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.

1. Execute the day-to-day responsibilities for TNTC-IB in accordance with the PCF-50 and PCF-53 Statement of Responsibilities.

2. Identification, management and mitigation of client assets and Depositor Protection risks on an on-going basis via the performance of control reviews and root cause investigations into the “CAR” breaches.

3. Ensuring that the Client Asset Management Plan is produced, maintained and reviewed.

4. Responsible for ensuring that any potential or actual breaches are reported to the relevant parties.

5. Responsible for approving any returns in relation to client assets that are required, as per the relevant regulations, and are reported to the Central Bank.

6. Ensure relevant reporting is submitted to the Central Bank as required in accordance with the timeframes applicable inclusive of any breach notifications.

7. Prepare daily, monthly and ad-hoc Management Information around client assets.

8. Establishing appropriate local governance for the oversight and risk management of the Client Asset and Depositor Protection requirements. Report to various senior governance forums on related matters.

9. Responsible for the oversight of custody activities including safekeeping of assets, trade processing and securities settlement, payments, entitlements, tax reclaims, network management, custody transitions & account opening, asset pricing & coding, reconciliations, and cash management & liquidity services .

10. Manage all aspects of functions with due skill, care and diligence including effective controls, risk management and mitigation and delegation of activities to appropriately skilled and competent persons.

11. Collaborate with Risk and Compliance with a view to ensuring adequate systems and controls are in place such that all functions in area of responsibility comply with all legal and statutory requirements as applicable.

12. Primary responsibility for implementing the strategy & activities comprising Custody, Depositor Protection and Client Asset Safety impacting TNTC-IB.

13. Responsible for overseeing the development and implementation of robust and effective resiliency and business continuity arrangements (BCP) addressing market and client needs incorporating appropriate stress testing for the activities comprising Custody as a business service impacting TNTC-IB.

14. Primary responsibility for understanding and applying the Third Party and Outsourcing requirements for the activities comprising Custody as a business service impacting TNTC-IB.

15. Develops business unit budget and manages the expenses for the business unit.

16. Provides leadership and guidance to staff, fostering an environment which encourages employee participation, teamwork, and communication.

17. Evaluates key business challenges; directs the development of new or innovative solutions.

Culture:
•   Working with the TNTC-IB Management team, develop and maintain organisational culture, values and reputation in the market and with all partners, clients, suppliers, counterparties and regulatory bodies.
•   Set the tone from the top for TNTC-IB through creating a culture where everyone has ownership and responsibility for doing the right thing in accordance with the Central Bank (Individual Accountability Framework) Act 2023 Conduct Standards.
•   Act as a role model and demonstrate behaviours in a way that is aligned to the global conduct framework and enforces the values and ethical standards of the business.

Knowledge:
•   Technical Expertise of CBI Client Asset Requirements and preferably prior experience of performing a Client Asset Oversight role.
•   Experience of custody products and services.
•   Strong understanding of policy, compliance, and best practice security principles.

Experience:
•   Well-developed management and leadership skills.
•   Knowledge of relevant legal/regulatory requirements.
•   Excellent communication skills, both verbally and in writing, to technical and non-technical audiences of various levels within Northern Trust or outside the organization (executives, regulators, clients, etc.).
•   Able to think strategically, navigate and communicate effectively across a complex organisation.

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 and apply today. #MadeForGreater

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.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.

PCF - 50 Head of Client Asset Safety and Custody Oversight

Job Description