1LoD Control Testing- Lead
Join our team at Northern Trust as a 1LoD Control Testing Lead! We are seeking a highly skilled and experienced individual to lead our team in conducting control testing for our first line of defense (1LoD) functions. As a lead, you will play a crucial role in ensuring the effectiveness and efficiency of our control environment, mitigating risks and promoting a culture of compliance within the organization. If you have a strong background in control testing and a passion for driving continuous improvement, we want you on our team. Read on to learn more about the qualifications and responsibilities for this exciting role.
- Lead and manage a team of control testing professionals to ensure the effectiveness and efficiency of our control environment.
- Develop and implement control testing strategies and methodologies to evaluate the adequacy of controls in the first line of defense (1LoD) functions.
- Conduct control testing activities in accordance with established policies, procedures, and regulatory requirements.
- Identify control gaps and deficiencies and work with relevant stakeholders to develop and implement remediation plans.
- Monitor and track control testing results and provide regular updates to senior management on the status of control environment.
- Collaborate with the second line of defense (2LoD) functions to ensure alignment of control testing activities and to share best practices.
- Continuously review and enhance control testing processes to drive efficiency and effectiveness.
- Provide guidance and support to team members on complex control testing matters.
- Foster a culture of compliance and risk management by promoting awareness and understanding of control testing processes and results.
- Stay updated on industry best practices, regulatory developments, and emerging risks related to control testing and implement necessary changes to our processes.
- Develop and maintain relationships with key stakeholders, including business units, internal audit, and external regulators.
- Prepare and present control testing reports and findings to senior management and other relevant parties.
- Mentor and train junior team members to develop their skills and knowledge in control testing.
- Act as a subject matter expert and provide guidance to other teams on control testing matters.
- Ensure compliance with all relevant policies, procedures, and regulations related to control testing.
Extensive Knowledge Of Regulatory Requirements: A Successful Candidate For This Role Should Have A Deep Understanding Of Relevant Regulations And Industry Standards, Such As Basel Iii, Sox, And Dodd-Frank. This Knowledge Will Be Critical In Designing And Executing Effective Control Testing Programs.
Strong Analytical And Problem-Solving Skills: The 1Lod Control Testing Lead Will Be Responsible For Identifying Control Weaknesses And Recommending Appropriate Remediation Measures. Therefore, They Should Possess Excellent Analytical And Problem-Solving Abilities To Effectively Assess Risks And Implement Solutions.
Experience In Control Testing And Assurance: The Ideal Candidate Should Have A Minimum Of 5 Years Of Experience In The Field Of Control Testing And Assurance, Preferably In A Financial Institution. They Should Have A Proven Track Record Of Designing And Executing Control Testing Programs And Providing Assurance To Senior Management.
Excellent Communication And Influencing Skills: As A Lead, This Individual Will Be Required To Communicate Complex Information In A Clear And Concise Manner To Various Stakeholders, Including Business Leaders, Auditors, And Regulators. They Should Also Possess Strong Influencing Skills To Promote A Culture Of Control Awareness And Accountability Across The Organization.
Team Management And Leadership Skills: The 1Lod Control Testing Lead Will Be Responsible For Managing A Team Of Control Testers And Collaborating With Other Control Functions Within The Organization. Therefore, They Should Have Experience In Managing And Developing A Team, As Well As The Ability To Lead By Example And Foster A Positive Team Dynamic.
Process Improvement
Project Management
Data Analysis
Communication
Internal controls
Team Leadership
Risk assessment
Problem-Solving
Stakeholder management
Compliance monitoring
Audit planning
Regulatory Knowledge
Communication
Conflict Resolution
Leadership
Problem Solving
Time management
creativity
Attention to detail
collaboration
Adaptability
Empathy
According to JobzMall, the average salary range for a 1LoD Control Testing- Lead in Chicago, IL, USA is $90,000 - $130,000 per year. However, this can vary depending on factors such as the individual's experience, education, and the specific company they are working for. Additionally, bonuses and other benefits may also affect the overall salary for this position.
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Northern Trust Corporation is a financial services company that caters to corporations, institutional investors, and ultra high net worth individuals. It is one of the largest banks in the United States and one of the oldest banks in continuous operation.
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