Senior Risk Consultant, Operational Risk

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 Luxembourg based Risk Management function is part of the International Risk Management organisation and is responsible to oversee, assess and advise on risk management for NTGS SE (Northern Trust's European banking entity) including service delivery, board and/or risk committee representation and reporting, risk management framework implementation, significant change activity, and facilitate embedding a risk management culture.

As a key member of the team, the role will primarily focus on operational risk and maintain the local operational risk framework, oversee its effective implementation, provide consultation and advice and make recommendations where appropriate to mitigate risk.  The role will require engagement with business management as well as collaboration with the broader Corporate and Business Unit risk functions. Key aspects of the framework include operational resiliency, third party / outsourcing and RCSA. 

The role will also support the local governance processes, prepare risk reporting and assessments to senior management, as well as acting as an escalation point for local risk issues.

The successful candidate will demonstrate some of the following skills:

• Supports appropriate application of the risk management lifecycle (identify, assess, measure, treat and control, and  monitor and report) activities at NTGS level.  

• Maintain and implement effective processes to demonstrate NTGS Risk Management Function oversight of operational risk in line with regulatory expectations. 

• Works closely with Corporate Operational Risk, including to ensure effectiveness and alignment of the operational risk management framework with regulatory requirements.

• Perform a documented NTGS level review and challenge of policy/program implementation, including Risk Control Self-Assessment (RCSA), Operational Resiliency, third party/outsourcing, loss events as well as oversight of incidents and issues.

• Develop and maintain relationships with business functions (including branches) and business unit risk management teams to foster an environment for open dialogue, collaboration and to be a trusted advisor on risk matters.

• Support NTGS risk reporting (including risk appetite and metrics), ensuring that the Risk Committee, Operational Continuity Committee and Board receives appropriate legal entity level information

• Support and enhance embeddedness of risk framework elements, including improvements to business level awareness and engagement on risk management.

• Provide input to operational risk related prudential deliverables e.g. risk assessments and scenario analysis.

• Represent the NTGS Risk Management Function as required in governance forums.

• Promotes effective collaboration within the broader NTGS Risk Management Function and support its activities as required.    

Skills/Qualifications:

The successful candidate will benefit from having:

• Demonstrated experience in the Financial Services industry is essential and an understanding of fund administration and/or custody / depositary services is desirable.

• Proven background in Operational risk including operational resiliency, third party/outsourcing and RCSA programs.

• In depth understanding of the Luxembourg regulatory environment, including DORA and experience in ICT risk would be advantageous

• Proven experience in risk governance, reporting and oversight, including presenting to and engaging with senior internal and external stakeholders.

• Self-motivated with the ability to operate independently or work as part of a team;

• Effective time management;

• Good written skills with an ability to prepare succinct risk reporting;

• Well-developed verbal communication skills with an ability to effectively present and contribute in business meetings and risk forums.

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.