Description:
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
International Compliance, a unit which forms part of Global Compliance and Corporate Risk, is entrusted with providing regulatory advice and assurance to senior management, boards, relevant committees, regulators and clients and ensuring Northern Trust (“NT”) meets its regulatory obligations at all times.
As head of Middle East Compliance, this role is to act as the second line of defence, and Head of the MENA Legal Entity Compliance Oversight function. Provide leadership and guidance in relation to the activities of all products & services (excluding capital markets) but including Anti Money Laundering impacting our MENA Asset Servicing and Global Family Office (GFO) businesses.
In addition, responsible for all Anti Financial Crime activity and will act as Money Laundering Reporting Officer (MLRO) registered with the Capital Markets Authority in Saudi Arabia and with the Financial Services Regulatory Authority in the Abu Dhabi Global Market.
This role sits within the International compliance & financial crime function and reports into the International Chief Compliance Officer. CCO will also have a dotted line to the Chief Executive officer and board members of the company. In the capacity of the MLRO will have a dotted line to the EMEA MLRO coordinator, also will have a dotted line to the Luxembourg Compliance and MLRO functions.
The Key Responsibilities Of The Role Include
- Provide consultative support and guidance to the MENA Business, covering all Asset Servicing products, and Sales and Marketing activities
- Pro-actively produce and take ownership for Compliance reporting on to Senior Management, Boards, Committees and Risk & Compliance Management for consideration, using a legal entity, regional and global lens as required.
- Look for efficiencies in the compliance programme reducing duplication, removing siloed thinking & look for automation & simplification wherever practicable.
- Work in partnership with the wider Compliance and Controls teams, especially Risk, Legal, and Operational Resiliency Office.
- Be a constructive & vocal member of the EMEA Compliance leadership team.
- In addition to providing Anti-Financial Crime, Sanctions and Anti-Bribery and Corruption compliance advice, work closely with global and regional Anti-Financial Crime Units and the global and regional Money Laundering Reporting Officers (MLRO) to ensure that all international requirements are understood and complied with;
- Deliver compliance advice to partners in the Saudi Arabia and Abu Dhabi businesses, including in relation to business projects, new product offerings, offshoring considerations, providing challenge to the business and escalation to senior Compliance management as necessary;
- Set the compliance objectives and initiatives for the MENA team including:
- Input into and oversee the execution the Compliance programme for the businesses as directed by the Head of Compliance International
- Ensure the timely development and maintenance of the list of regulatory rules, guidance, controls and risk ratings that relate to the businesses.
- Support the creation and maintenance of Compliance policies and standards, and the development and delivery of training to partners.
- Monitor and assess on a day to day basis the adequacy and effectiveness of the measures, controls and procedures put in place by the business to address the company’s compliance with its regulatory obligations.
- Attend relevant business, compliance and governance meetings and provide the compliance view of the business.
- Support the Regulatory Change Framework and the business to monitor regulatory developments, including industry thinking and guidance.
- Manage the resources within the team, ensuring that the structure & responsibilities allows for team-work, efficiency and exposure, learning & growth opportunities for all members of the team
Skills/Qualifications
- Strong experience in Compliance in a senior position at a major asset servicing/ investment management firm or experience working in a senior position within a professional services firm or experience working at a relevant regulator;
- Good communication (written & oral) and influencing skills.
- Solid Asset Servicing business knowledge including AML.
- Experience in managing and leading a team, including remote management;
- Be an SME on MENA regulation impacting Asset Servicing, with the ability to interpret business and operational impact where the business model or regulations change;
- Experience of working within a global compliance team would be advantageous;
- Experience in regulatory exams and audit management preferable