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.
Position Overview
As the Pre‑Approval Controlled Functions (PCF) Head of Client Asset Oversight (PCF‑53) and Head of Material Business Line – Custody (PCF‑50), subject to Central Bank approval, you will be responsible for compliance with the Client Asset Requirements (CAR) and oversight of custody operations at Northern Trust Company Ireland Branch (TNTC‑IB – subject to CBI authorisation). You will develop and maintain organisational culture, values and reputation in the market and with all partners, clients, suppliers, counterparties and regulatory bodies.
Responsibilities
Execute the day‑to‑day responsibilities for TNTC‑IB in accordance with the PCF‑50 and PCF‑53 Statement of Responsibilities.
Identify, manage and mitigate client asset and Depositor Protection risks on an ongoing basis via the performance of control reviews and root‑cause investigations into CAR breaches.
Ensure that the Client Asset Management Plan is produced, maintained and reviewed.
Report any potential or actual breaches to the relevant parties.
Approve any returns in relation to client assets that are required, as per the relevant regulations, and are reported to the Central Bank.
Submit relevant reporting to the Central Bank as required in accordance with applicable timeframes, including any breach notifications.
Prepare daily, monthly and ad‑hoc Management Information around client assets.
Establish appropriate local governance for the oversight and risk management of the Client Asset and Depositor Protection requirements, reporting to senior governance forums as required.
Oversee custody activities including safekeeping of assets, trade processing, securities settlement, payments, entitlements, tax reclaims, network management, custody transitions & account opening, asset pricing & coding, reconciliations and cash management & liquidity services.
Manage all aspects of functions with due skill, care and diligence, ensuring effective controls, risk management and delegation to appropriately skilled persons.
Collaborate with Risk and Compliance to ensure adequate systems and controls are in place to comply with all legal and statutory requirements.
Implement the strategy & activities comprising Custody, Depositor Protection and Client Asset Safety impacting TNTC‑IB.
Oversee development and implementation of robust resiliency and business continuity arrangements (BCP) for custody services, including appropriate stress testing.
Apply the Third‑Party and Outsourcing requirements for Custody services impacting TNTC‑IB.
Develop the business unit budget and manage expenses.
Provide leadership and guidance to staff, fostering an environment which encourages participation, teamwork and communication.
Evaluate key business challenges and direct the development of new or innovative solutions.
Skills and Experience
Technical expertise of CBI Client Asset Requirements and prior experience performing a Client Asset Oversight role.
Experience with custody products and services.
Strong understanding of policy, compliance and best‑practice security principles.
Well‑developed management and leadership skills.
Knowledge of relevant legal and regulatory requirements.
Excellent communication skills, both verbally and in writing, to technical and non‑technical audiences at all levels within Northern Trust and outside the organization.
Ability to think strategically, navigate and communicate effectively across a complex organization.
Note: This role will be subject to the Senior Executive Accountability Regime (SEAR), which imposes a legal Duty of Responsibility on persons carrying out this PCF role.
Working With Us – Benefits
Financial: Life Assurance, Disability Plan, Pension/Gratuity, Annual Pay Review.
Work‑Life Balance: Flexible Work Options, Incremental Annual Leave, Community Volunteer Days.
Health & Wellbeing: Private Medical Insurance, Active Sports & Social Clubs, Employee Assistance Program.
Professional Development: Clear Career Path, Education Assistance, Recognition Programme, NT University and employee‑led Business Resource Councils dedicated to diversity and inclusion initiatives.
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 so we can achieve greater together.
Reasonable Accommodation: Northern Trust is committed to working with and providing 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.
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