HEAD OF BUSINESS GOVERNANCE AND OPERATIONAL OVERSIGHT – ASSET MANAGEMENT

  • Location: London, England, United Kingdom
  • Salary: Competitive
  • Job Type: Full time

HEAD OF BUSINESS GOVERNANCE AND OPERATIONAL OVERSIGHT – ASSET MANAGEMENT

Role Purpose:

A newly created role within the International COO office for NTAM ('the firm'), this role is accountable for the ongoing development and implementation of a business governance and oversight framework embedded within first line operations for NTGIL. This key role has been created in response to firm's plans to evolve its operating model for the future growth (e.g. consolidation of technology platforms and realignment of activities in IOO and asset servicing back into the firm). This individual will work closely with operations partners across the firm, ensuring effective governance structures, policies, procedures and operational controls are in place in order to meet expectations of Clients, Regulators and other Key stakeholders.

This governance framework will ensure that due consideration is given to ensuring the firms internal operational governance and oversight model applies key oversight principles (e.g. Know Your Outsourcer, risk based assessments, ownership & governance framework) in order to ensure effective governance of the outsourcing (outsourced/partially outsourced and or offshored) of either regulated activity or functions which are critical and important to NTGILs regulated activities. Team will work closely on a day to day basis with investment operations/middle office within the firm establishing good work relationships and practices across the firm and key service providers

The successful individual will also be responsible for supporting the SMF in meeting their responsibilities under the SM&CR as required as well as managing other front office regulatory reporting obligations ensuring the firm is not exposed to reporting failures, risks or financial costs.

Key Responsibilities:


• Accountability for the independent reporting of operational issues across all operational functions to the SMF and senior management for NTGIL and ensure events or issues are appropriately escalated to and reported to the SMF for Operations.
• Establish, maintain and oversee adherence to a clear governance framework, encompassing operational risk and controls within first line operations.
• Responsible for ensuring there is appropriate understanding of activities outsourced/ offshored across the firm over the life cycle of the relationship performing both periodic formal review of services being provided and of the documentation (e.g. SLA, KPI, Rate cards etc.) governing the services being provided to the firm, ensuring they remain appropriate to the nature, scale and services being provided to NTGIL.
• Responsible for ensuring team are executing timely and accurate regulatory reporting via various system platforms to support EMIR and MiFID2 obligations.
• Ownership of the production of management information including independent root cause and trend analysis on operational issues.
• Maintain and document clearly defined internal roles, responsibilities and reporting lines in addition to maintaining clearly defined ownership of outsourced/partially outsourced and or offshored arrangements.
• Operate and monitor the change management process agreeing jointly on changes both internally and externally with relevant outsourced provider.
• Coordination of and oversight of internal/external audit and compliance testing as and when needed.
The Person
• You will have extensive knowledge and experience in the financial services industry, in particular asset management operations.
• In-depth knowledge of current/future regulatory reporting landscape.
• Understanding of operational risk frameworks.
• Active engagement in industry forums/user groups to ensure teams continue to have the appropriate skill, awareness and expertise to appropriately oversee activities.
• You will have significant experience of conducting governance and controls reviews as well as operational due diligence or investment operations reviews having had broad experience in investment operations function at an asset management firm, hedge fund or investment consultancy.
• You will have gained a good knowledge of key policies, processes and control environments at an asset manager and have experience working with organisations to advise on and implement industry best practices. This will include but not be limited to governance arrangements, trade life cycle, and operational risk and compliance arrangements.
• You have a strong understanding of various asset classes, including but not limited to, equities, fixed income, real estate and private equity as well as the investment strategies that employ these asset classes.
• You have assisted in developing robust operational control environments within the asset management industry and have a good knowledge of how key players (e.g. asset managers, asset servicers, benchmark providers, valuation agents) operate.
• You adapt quickly in a fast-paced environment, taking on new challenges, grasping new technical concepts rapidly, whilst delivering work to a high standard of quality and demonstrating strong attention to detail.
• The above skills makes you a strong role model for more junior staff and you willingly share your technical and professional knowledge taking a genuine interest in developing the careers of your team.
• Share your technical and professional knowledge taking a genuine interest in developing the careers of your team.

Qualifications


Background
• Graduate or relevant professional qualification
• Post qualification experience in increasingly senior roles
• Excellent analytical skills, with the ability to identify problems and develop solutions. Ability to manage details while maintaining a strategic view.
• Ability to work effectively with ambiguity and change
• Effective communicator with the ability to concisely articulate complex risk issues and solutions
• Ability to identify and promote global solutions to local issues
• Proven leadership skills and ability to manage multiple responsibilities concurrently
• Strong organisation and co-ordination capabilities
• Knowledge and experience of dealing with application of FCA and international regulations to enable identification of potential issues that may arise

Direct reports:
• Regulatory Reporting Specialist
• Business Analyst
• 3rd party vendor oversight relationship managers (x2)

Committees/Memberships:
• Chair the NTGIL CASS Committee and report to appropriate board/committees
• Chair the NTGIL T&C Committee and report to appropriate board/committees
• Member of NTAM EMEA leadership team
• Member of NTAM EMEA and APAC Business Risk Committees
• Member of the NTGIL CASS Committee

Internal key stakeholders:

• NTAM Business Unit Operations partners in London, Dublin, HK, NA and India
• NTAM Business Unit Risk and Compliance, Audit Services
• Committee Members of the London T&C, NTAM Operations and Infrastructure Committee
• COO, CEO and NTGIL Board of Directors. NTAM Ireland Management Company

External key stakeholders:

• Regulators e.g. FCA, CBI, ESMA
• Outsourced Service Providers such as Administrators and Custodians
• Relevant CASS Industry groups such as those run by trade bodies eg AFME

Other: The profile above is not an exhaustive list of the activities that the role holder may be required to undertake. The Company may require the role holder to perform other duties as the Company deem necessary to fulfil the requirements of the role. Role may be captured as a Certified Person

About Northern Trust

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion.

As of December 31, 2018, Northern Trust Corporation had:

• $10.1 trillion in assets under custody/administration
• $7.6 trillion in assets under custody
• $1.1 trillion in assets under management
• $132 billion in banking assets