Enterprise Risk Manager

  • Location: Luxembourg
  • Salary: Competitive
  • Job Type: Full time

This role is for Enterprise Risk Manager for the forthcoming Luxembourg Bank with 5 foreign branches as a result of Brexit. This role will report into the Chief Risk Officer for the Luxembourg Bank and will work intelligently and in partnership with Global & EMEA Northern Trust entities, but also with the Business in Luxembourg and foreign branches.

Main Duties:

• The key duties of the role include the participation to:

• Implementation and monitoring of the entire Supervisory Review and Evaluation Process (SREP): Coordinating the definition, operationalisation and monitoring of the various components of the SREP process to ensure that a robust and consistent risk management framework is in place to enable the Bank to achieve its business objectives:

1. Set-up of the IC/LAAP framework and drafting of the corresponding IC/LAAP report with quarterly update (for the Luxembourg Board Risk Committee),

2. Establishment of a robust and consistent Stress Tests framework,

3. Establishment of recovery and resolution plans of the Bank under the BRRD,

4. Regulatory watch in coordination with the EMEA Compliance team related to the Bank's risk management,

• Production/Oversight of  prudential reports: Pillar III, Annual and semi-annual reports, Long Form Report, Risk Management Internal Control Report,

• Production of internal reports to Governing Bodies (BoD, Board Risk Committee) / Senior Management on prudential risk and compliance,

• Handling of requests from supervisors (Federal Reserve Bank of Chicago, ECB, CSSF, BCL, National Competent Authorities of the foreign branches),

• Revision of Risk procedures & policies under Bank status and in the effort to streamline those,

• Participation to specific (or parts of) programmes or projects: Brexit…,

• Establishment of a consolidated risk monitoring system: Participation to the implementation of a risk monitoring system for the branches of the Bank as well as the production of corresponding internal reports,

• Follow-up of the supervisory / regulatory recommendations e.g. following on-site visits and off-site monitoring related or not to the SREP process,

• Follow-up of the External / Internal Audit recommendations related to prudential matters,

• Follow-up of the Global & EMEA requests related to prudential matters,

• Organization of the on-site visits and of the visits related to the off-site segment of the SREP process (meetings with the supervisors).


Qualifications and Skills Required:

• Minimum holding of a Master's Degree in economics or finance, any certification (FRM/CFA) would be an additional benefit

• Banking experience of minimum 10 years, a direct exposure to the Asset Servicing, Fund Administration and Custody / Depositary services business segments in Luxembourg would be an additional benefit
• Risk Management experience of minimum 7 years with proven track record of managing prudential matters: SREP, IC/ILAAP, Recovery, Resolution…

• Solid written and verbal communication competences in English and French including the ability to develop sustainable working relationships within a diverse and international  working environment and to inspire trust to the Executive Management and others business contacts

•Excellent team player, empathetic attitude.


About Northern Trust

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,100 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.


We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.


Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion.


As of June 30, 2018, Northern Trust Corporation had:

$135 billion in banking assets
$8.1 trillion in assets under custody
$10.7 trillion in assets under custody/administration
$1.1 trillion in assets under management

As Northern Trust is a financial organisation; all new employees will be required to undergo a criminal record check.