Banking & Markets Oversight

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.

Role/ Department:

The Practice Oversight role will provide governance and oversight for outsourced Banking and Capital Markets functions across Europe, ensuring compliance with regulatory requirements and alignment with Northern Trust's risk and control framework. This role requires strong knowledge of EU banking regulations, custody operations, and experience engaging with regulators such as CSSF. The individual will act as a key partner to internal teams and external providers, driving operational integrity and regulatory adherence.

The key responsibilities of the role include:

• Oversight & Governance

  • Design, implement, and maintain the oversight model for outsourced 1LoD Banking and Capital Markets functions.
  • Conduct periodic reviews, risk assessments, and on-site inspections to ensure adherence to contractual and regulatory obligations.

• Regulatory Compliance

  • Monitor and oversee regulatory reporting for Banking services, ensuring timely and accurate submissions to regulators (e.g., CSSF).
  • Stay current on EU regulations impacting banking and capital markets and advise on compliance requirements.

• Risk & Control Management

  • Perform ongoing oversight reviews, including KPI monitoring and risk assessments.
  • Partner with internal teams to ensure alignment with risk, compliance, and strategic objectives.

• Operational Excellence

  • Provide guidance on best practices for cash and payment regulations, transaction reporting, and operational controls.
  • Act as a subject matter expert for custody and capital markets operations, ensuring robust processes and controls.

Skills/Qualifications

• Experience in Banking and/or Capital Markets with a strong focus on risk, audit, and controls.
• Proven track record in oversight roles with exposure to EU regulatory frameworks and local market practices (Luxembourg).
• Knowledge of custody operations, cash and payment regulations, and regulatory transaction reporting.
• Strong project management and organizational skills; able to work independently in a dynamic environment.
• Excellent communication and stakeholder management skills, including experience interacting with regulators.

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

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.

About Our Luxembourg Office

In 2024, the Northern Trust Luxembourg office celebrated their 20th anniversary, an important chapter in their history. Having opened in 2004 to support one client, they have since grown their client base substantially and increased their headcount significantly, which now stands at over 400.

From modern fully equipped meeting rooms to a vast canteen with a view over a vegetable garden, maintained by our team all year round, and a rooftop where beehives have been installed, this space is truly a source of pride for our team. Learn more.

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