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Audit Manager - Finance & Shared Servies at Northern Trust

Posted in General Business 30+ days ago.

This job brought to you by eQuest

Type: Full-Time
Location: Chicago, Illinois

Job Description:


Northern Trust's corporate-wide services groups are responsible for helping our employees deliver outstanding products and services to our clients by providing expert consulting throughout the company. The Finance and Shared Services Team conducts global and/or targeted audits throughout the company to assess and validate the effectiveness of business unit controls. With this focus, team members have the unique opportunity to develop views towards enterprise risks across global processes and key technologies, drive thought leadership in assessing risks and controls, and create data analytics strategies to increase assurance effectiveness. Team members are encouraged to build authentic relationships, think creatively and challenge the status quo, seek emerging trends and develop an insightful point-of-view, and hold themselves accountable in a flexible and delivery driven culture.

Based in Chicago but operating as part of a global matrix team structure, the Audit Manager is responsible for supporting the delivery of the global financial and shared services audit plan through oversight of audit engagement execution, which includes planning and contributing to the project's scope, managing the budget and timeframes of the project, and ensuring delivery of high quality reporting and documentation in line with department Standards. The role is a direct report to a Senior Audit Manager based in Chicago. The individual will be responsible for their assigned staff's performance management process, recruiting and retention of and development of staff within the audit team. The role requires technical expertise and performs supervisor related work including training new employees or those with lesser experience, reviewing work of others, and providing regular feedback and coaching to employees. Additionally, the role will actively assist the Senior Audit Manager and the Audit Director in interacting with Regulators and Senior and Executive management, both locally and globally.

Principal Responsibilities

Audit Execution

• Functioning in various roles on audit engagements and other special projects as assigned, including leading projects and providing consulting or oversight functions based on the needs of the team

• Effectively managing teams and audit timelines to ensure on time delivery

• Escalating to Management on a timely basis any delays to audit deliverables

• Ensuring timely reporting on Audit Services matters to management

• Participating in meetings with business unit to discuss audit results

• During audit engagements, assigning work to auditors both locally and globally, setting priorities and monitoring activity

• Reviewing audit work including work paper documentation, findings and recommendations and the final report to ensure appropriate adherence to the Corporation's/Department's Policies and Standards and ensuring work is performed within established timeframe

• Applying analytical skills to review information and determine potential control weaknesses

• Demonstrating a thorough understanding of the Internal Audit Manual and audit approach

• Demonstrating the ability to appropriately discuss the business/risk environment and relevant audit issues with senior management


• Effectively challenging the audit team on audit coverage including comprehensiveness of risks, controls and corresponding test steps to meet the objective of the audit

• Building authentic relationships through thoughtful and respectful challenge; being clear, concise, and timely; being comprehensive and transparent, and simplifying complex messages

• Demonstrating knowledge of core banking and financial reporting activities typically gained in a financial services audit environment, through the following:

• Providing subject matter and technical expertise to the Audit Team and;

• Staying current on regulatory rules and changes within the asset servicing industry and how these impact the audit planning activities

• Interacting and partnering with Senior and Executive Management, both locally and globally, to understand the risks within the business, business changes and other significant events that could significantly affect the business and/or the audit plan, and additionally developing and presenting recommendations on operations and controls for the business unit

• Working with global teams to ensure the risk-based audit program captures and covers relevant activities and functions

• Increasing familiarization and technical expertise with the business unit(s) including organizational structure, personnel, activities and products, new product development, financial performance and risk and problem areas

Talent Management

• Fostering a high performing Audit Services team culture by encouraging employee participation, teamwork and communication

• Developing the Audit Services teams' capability to articulate core audit objectives, risks and procedures

• Overseeing the professional development and performance management processes by identifying training and development needs and providing effective feedback

• Conducting the annual performance management process for direct reports, in consultation with the functional manager to agree ratings


• CPA is required.

• CFA, CISA, CIA, ACA, ACCA are preferable but not mandatory

• Strong analytical, leadership, and organizational skills

• Strong report writing and workpaper documentation skills

• College or University degree

• Adept auditing experience in a financial institution, or similar public accounting experience in the financial services industry

• Subject matter expertise

• Project management

• Analytical thinking

• Time management

• Communication

• Focused client relationships

• Team player

• Ability to work with a high level of autonomy

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 18,500 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.

As of March 31,2019, Northern Trust Corporation had:

$10.9 trillion in assets under custody/administration
$8.2 trillion in assets under custody
$1.2 trillion in assets under management
$122 billion in banking assets