Senior Consultant, Compliance

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.

Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.

With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Primary Duties:

• Provide compliance advisory support to the APAC FX team in Singapore, Australia, and China, providing input and advice to the business and management partners regarding regulatory requirements and market best practice.
• Assist in the management of the monitoring and surveillance program for the APAC FX business
• Represent compliance in relevant governance forums and committees, analysing, preparing and submitting relevant reports, data and documentation as required
• Evaluate existing and proposed regulatory requirements and expectations against existing processes and control to identify and escalate potential gaps or regulatory risks, including providing recommendations on procedural changes if necessary
• Review and provide feedback on regulatory consultation papers or other guidance and work with applicable industry bodies where relevant and applicable (e.g. ISDA and ASIFMA).
• Communicate, evaluate and assist with implementation of regulatory changes where required
• Prepare and provide inputs to regulatory requests and queries, occasional regulatory interactions may also be required
• Advise on Compliance programs and applicable laws, regulations, rules, standards, risks and documentation including keeping partners and management informed of developments or changes that may affect their area 
• Review compliance program against existing regulatory best practices and new developments
• Implement and embed the global and regional Compliance Program, including monitoring, testing, and assurance frameworks and executing against action plans
• Work closely with legal entity compliance officers for the execution of local compliance programs in FX locations related to individual licensing, complaints, breaches, errors and investigations
• Work in partnership with risk, compliance and control team colleagues regionally / globally, including sharing of information and knowledge
• Take responsibility for APAC FX policies and procedures for the regional business, including those for internal Compliance use
• Develop and conduct training as required
• Develop, execute and deliver compliance related projects

Knowledge/Skills/Experience:

• Previous FX experience and knowledge, preferably within a global financial institution and with sales/trading desk advisory experience (primarily covering FX with derivatives knowledge a plus).
• Knowledge of Asia FX regulations (primarily MAS) and relevant Singaporean, Korean, Australian, and Chinese law.
• Knowledge of FX Derivatives Regulations (e.g. Trade Reporting) and an understanding of operational processing requirements of the FX business such as trade booking, settlement and confirmations, including ASIC Derivative Transaction reporting obligations
• Experience of providing compliance advisory and operational support including managing and supporting business changes and new product launches.
• Strong understanding of the MAS Cross Border Exemption framework
• Previous exposure to CFTC Swap Dealer compliance requirements for FX.
• Strong organisational skills, a collaborative approach to work, with strong interpersonal skills
• Ability to operate effectively as part of a global team, facilitating connectivity of the business and compliance with regional and global stakeholders.
• Knowledge of global market conduct guidelines a plus (e.g. Global FX Code and MAS Blue Book)
• Fluent in English and ability to communicate in a clear, concise and effective manner (verbal and written).
• Strong financial industry knowledge/background coupled with compliance or audit or legal or risk management course of work.  This will include knowledge of brokerage businesses, preferably within a global financial institution
• Experience in interfacing and communication with all levels of staff
• Project management skills preferred

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected], or alternatively you can discuss your individual requirements with the recruiter you are working with.