Practice Lead – Global Payments Sanctions and Anti-Fraud at Northern Trust in Chicago, Illinois

Job Description:

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.

Within the Global Payments Practice, the Sanctions and Anti-Fraud Practice Lead is responsible for managing the Global Sanctions and Payments Fraud Team. The Practice Lead provides leadership and direction through their team and is accountable for the performance and results of the Sanctions and Payments Fraud team. Executes business plans and contributes to the development of functional strategy.

Responsible for collaborating with Asset Servicing senior leaders, as well as other business leaders to develop strategic and financial objectives and for leading the execution of those objectives. Responsible for assessing opportunities to streamline processes and implement change via system enhancements and/or automation, as appropriate. Proactively build relationships and partner with capability teams to uncover opportunities and develop strategies to improve service.

Management responsibilities and decisions likely include hiring, performance reviews, pay decisions and development. Conduct the performance management process, identify training and development needs, and establish performance standards for the Practice.

Major Duties:

• Responsible for directing and supporting the Payments Sanctions and Fraud Operations functions


• Responsible for regulatory oversight for the corporation, at the corporate level of compliance policy development and/or evaluation of regulatory policies and procedures


• Define the Sanctions and Fraud function and necessary production organization to carry out business objectives


• Advises partners, including senior management, on compliance with applicable laws, rules and standards, including keeping them informed on developments with business procedures and processes


• Oversees the development of Sanctions and Fraud compliance programs that impact the corporation


• Proactively research and coordinate enhancements and transformation


• Support Business in providing thought leadership to benefit NT


• R esponsible for maintaining quality service with future considerations


• Ensure changes match industry trends and client expectations in terms of partnering with technology and service delivery


• Identify opportunities for continuous efficiencies, scale, and value


• Organize the functional work from a process and locational regulatory standpoint


• Provide input to Talent Decisions as related to upskilling the function from a service perspective


• Effectively manage change and transformation objectives


• Point of contact for issues specific to functions under management


• Coordinate operational response to complex issues


• Collaborate with other Practice Execs and capabilities to deliver and overall seamless operational offering


• Coordinate response between operational teams


• Liaise between BU stakeholders and operational leaders on recurring issues


• Stay updated on relevant laws, regulations and industry trends related to financial crimes.


• Monitor anomaly detection system performance and implement detection strategies to reduce false positives and increase detection rates.

Knowledge :

• Leadership and strategic thought skills are required to determine the Payments sanctions and fraud function's goals, resources needed and to asses and develop the skills of staff


• Excellent oral and written communication skills are required


• Knowledge of sanctions and fraud processes, laws, regulations, and legislate and regulatory processes are required


• Requires strong leadership and forethought to lead the function globally


• Exceptional ability to analyze and interpret complex data sets and metrics.

Experience:

• Proven experience contributing to the development of functional/operational long-term strategy and developing annual business plans to ensure alignment


• Relevant proven work experience in regulatory oversight, ani-money laundering/sanctions and compliance risk management

• Association of Certified Anti Money Laundering Specialists (ACAMS), Certified Fraud Examiner (CFE) or similar professional certification preferred.


• Expertise in fraud analysis.


• Deep understanding of digital banking and Wealth Management, Asset Servicing and Asset Management businesses.


• Ability to exercise good judgment to make timely decisions, while working in a fast-paced and results-driven environment.

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.