Operations Manager – Controls – Corporate & Institutional Services recruitment

Global Fund Services (GFS) area of Northern Trust is one of the fastest growing businesses within the organization.  GFS lines of business in India include Fund Administration Fund Accounting, Investment Operations Outsourcing, and Transfer Agency.

Candidate should be a seasoned manager with extensive business experience, multi-disciplinary functional expertise and with a focus on proactive management within the operations group 

This role should ensure the adherence to established operational control processes of the operating group in accordance with the highest standards and best practices.  Develops controls and measures to identify excessive operational risk and/or control problems at an early stage and ensures that immediate measures are taken to maintain quality and efficiency standards.  Works cross-functionally with Department Managers to create highly efficient operational processes that avoid control and quality deficiencies and associated monetary losses.

The position reports directly to the GFS Global Head of Control in Chicago, IL and locally into the GFS Infrastructure Head in Bangalore

Principal Responsibilities

• Ensures the adherence to established operational control processes of the operating group in accordance with the highest standards and best practices

• Provides guidance to both direct and indirect staff, fostering an environment that encourages participation, teamwork and communications

• Establish Maintain Control Team structure/Model in India.

• Develops controls and measures to identify excessive operational risk and/or control problems at an early stage and ensures that immediate measures are taken to maintain quality and efficiency standards

• Works cross-functionally with Department Managers to create highly efficient operational processes that avoid control and quality deficiencies and associated monetary losses.

• Drives initiatives and participates in steering groups to implement control enhancements, compliance with corporate policy, or risk mitigation.

• Serves as the liaison and key point of contact for all Internal Audit and Regulatory reviews for the operating group. 

• Serves as the primary escalation point for various issues tied to material GFS errors/losses, audit compliance issues, regulatory matters and control breakdowns in Bangalore for all service regions.

• Works with Business Unit and Corporate Risk and Compliance to ensure that review findings are effectively resolved.  Participates with the operating group in selected scenario analyses for Operational Risk Management.

• Leads the development of controls and metrics to Partners with business units to make sure proper preventative and detective controls are in place to support business functions. Monitors key metrics to identify operational risk and/or control problems at an early stage and ensures that immediate measures are taken to maintain quality and efficiency standards.  Drives recommendations to strengthen control weaknesses.

• Conducts operations group audits of specific areas for audit, policy and regulatory compliance

• Manage the business unit’s Risk Control Self Assessment (RCSA) process – primary responsibility for preparation, sign-off and ongoing maintenance.

• Ensure the GFS processes/department complies with the requirements of the current Training and Competence regulatory regime.

• Assess operational readiness of the business unit’s ability to take on large, new clients, processes, or system migrations. Work with project team to identify gaps associated risks, recommend controls, track and monitor issues post go live date until resolved.

• Develops, analyzes and reports on metric processes/systems consistent with Northern Trust standards. 

• Develops and provides metric reporting for monthly operations group forum review.

• Maintains regular contact with peers internal and external to firm, including regulators and professional organizations wherever required however in consultation prior approval from Global Control Head.

• Responsible for managing a small group, including the performance management process, providing training and development an input for staff and disciplinary actions

Skills / Experience

• Self directed, highly driven, seasoned leader with extensive experience in operational aspects of the fund services business or the investment management world.  Possess an understanding of associated products and services as well as operational functions, regulatory requirements and industry best practices.  Demonstrated ability to work with cross-functional lines of business and prioritize accordingly.  Knowledge of risk management techniques and proven ability to assess business processes for efficiency control design.  Experienced manager who is able to work with virtual teams.

• Strong communication, negotiation and analytical skills are necessary to provide consultation at the highest technical level with partners throughout the organization as well as regulators and auditors. Effective project management skills are essential to help drive various initiatives. Strength of character, accompanied by excellent interpersonal skills, to enable the optimum balance between exercising firm command of a situation while maintaining the support and buy-in of senior management. Demonstrated ability to work with senior level partners across an organization.  A level of salesmanship is necessary to sell the value added benefit of the control discipline and drive improvements.

•   Previous experience of working with virtual teams (would be advantageous)

•   Ability to work under pressure to achieve the multiple daily deadlines for client deliverables, with a mature approach.

•   Excellent Numerical and computer literacy (including spreadsheet skills) – (e.g. Excel, Word, Lotus Notes etc)

•   Team development experiences

•   Knowledge of capital markets various instruments understanding is preferred

•   Complies with the Northern Trust policy educational standards.

•   Should be able to travel on a moderate basis

•   12 or more years of related business experience in operational areas of the fund services world coupled with a background in risk management, consulting, compliance monitoring, or auditing.