Senior Consultant Compliance, EMEA GFX

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

About The Role:

The Banking and Markets business at Northern Trust is one of the fastest growing areas of our asset servicing business. The core products are institutional brokerage, global foreign exchange, securities financing & portfolio solutions. However, the product roadmap is full, including additional asset classes & new markets. The compliance team that supports and oversees the business is a vital part of our control function & forms a solid partnership with the business whilst keeping its own independence.

What you will do:

You will be responsible for overseeing the review, interpretation, and dissemination of current and proposed laws and regulations relevant to the EMEA FX Business, regionally located in London. Provide guidance and advice to partners regarding Compliance risks and participate in the establishment of business development strategies to minimize risk and ensure compliance with applicable laws and regulations.

EMEA FX Compliance forms part of the Global Banking and Markets Compliance team, which sits within the Global Compliance and Corporate Risk function and is entrusted with ensuring identification, risk assessment and monitoring of all our regulatory obligations in the locations we operate.

This role is in the second line of defence and will assist in the implementation of the Northern Trust Compliance framework. The Compliance function is responsible for ongoing oversight and reporting on regulatory obligations to our senior compliance and business management.

This role supports the EMEA FX business in relation to all aspects of the compliance programme including understanding and interpreting regulatory requirements and working closely with our legal entity compliance officers in any relevant regulatory engagements. This role requires monitoring, policy drafting, training and other duties as assigned. This role will also require strong stakeholder management and the ability to consult with and advise senior management on an independent basis.

This role will report to the International Head of Banking and Markets Compliance.

The Key Responsibilities of the Role Include:

1. Provide compliance advisory support to the EMEA FX team in London, providing input and advice to the business and management partners regarding regulatory requirements and market best practice.
2. Manage the monitoring and surveillance program for the EMEA FX business.
3. Represent compliance in relevant governance forums and committees, analysing, preparing and submitting relevant reports, data and documentation as required.
4. Evaluate existing and proposed regulatory requirements and expectations against existing processes and control to identify and escalate potential gaps or regulatory risks, including providing recommendations on procedural changes if necessary.
5. Review and provide feedback on regulatory consultation papers or other guidance and work with applicable industry bodies where relevant and applicable (e.g. ISDA and ASIFMA).
6. Communicate, evaluate and assist with implementation of regulatory changes where required.
7. Prepare and provide inputs to regulatory requests and queries; occasional regulatory interactions may also be required.
8. Advise on Compliance programs and applicable laws, regulations, rules, standards, risks and documentation including keeping partners and management informed of developments or changes that may affect their area.
9. Review compliance program against existing regulatory best practices and new developments.
10. Implement and embed the global and regional Compliance Program, including monitoring, testing, and assurance frameworks and executing against action plans.
11. Work closely with legal entity compliance officers for the execution of local compliance programs in FX locations related to individual licensing, complaints, breaches, errors and investigations.
12. Work in partnership with risk, compliance and controls team colleagues regionally / globally, including sharing of information and knowledge.
13. Take responsibility for EMEA FX policies and procedures for the regional business, including those for internal Compliance use.
14. Develop and conduct training as required.
15. Develop, execute and deliver compliance related projects.

Skills/Experience Required:

1. Knowledge of UK and EMEA FX regulations.
2. Knowledge of FX Derivatives Regulations (e.g. Trade Reporting) and an understanding of operational processing requirements of the FX business such as trade booking, settlement and confirmations.
3. Experience of providing compliance advisory and operational support including managing and supporting business changes and new product launches.
4. Strong organisational skills, a collaborative approach to work, with strong interpersonal skills.
5. Ability to operate effectively as part of a global team, facilitating connectivity of the business and compliance with regional and global stakeholders.
6. Knowledge of global market conduct guidelines a plus (e.g. Global FX Code and FCA Handbook/COBS).
7. Effective communication skills (verbal and written).
8. Strong financial industry knowledge/background coupled with compliance or audit or legal or risk management course of work.
9. Experience in interfacing and communication with all levels of staff.
10. Project management skills preferred.
11. Understanding of financial products in a Capital Markets business.
12. Experience of dealing with regulators and responding to regulator enquiries.
13. Experience of effectiveness reviews and optimization projects.
14. Ability to create, enhance and maintain risk assessments for markets compliance advisory activities.
15. Prior experience working in a markets compliance advisory function at a global financial institution or at a regulator a plus.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us.

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.

We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Talk to us about your flexible working requirements and together we can achieve greater.

For further information, and to apply, please visit our website via the “Apply” button below.