Senior Compliance Consultant
Northern Trust · Luxembourg · 2mo ago
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.
The team:
The compliance team of Northern Trust Global Services SE is in charge of:
Identifying, mapping and assessing the impacts of new regulations on financial services;
Building and conducting a monitoring plan on an annual basis;
Provide advisory to the business on regulatory topics;
Coordinating and following-up on correspondence with competent authorities in Luxembourg and across branches;
Reporting to governance forums and competent authorities on compliance topics.
Northern Trust Global Services SE is a credit institution supervised by the Commission de Surveillance du Secteur Financier in Luxembourg. It provides custody, depositary fund administration and capital markets services. NTGS SE is also preparing an extension of its scope of services to banking during the course of 2026.
Key responsibilities of the role:
Identifying, controlling, assessing and reporting compliance of NTGS SE with the Luxembourg regulations other than AML/CTF, in particular LSF, Circulars CSSF 12/552, 16/644 and 18/697, 22/811, Client complaints, Data Privacy, MiFID/MiFIR, CSDR, EMIR and SFTR.
Timely and accurate completion of the compliance program of NTGS SE in line with the Global Compliance Framework for the regulations other than AML/CTF; this entails completion of related:
Map of Rules,
Compliance Risk Assessment (CRA), including answers to Corporate Compliance quality check questions,
CRA actions formalisation and tracking,
Coordination of the performance of the monitoring plan by the compliance team,
Performance of certain parts of the compliance monitoring plan mentioned above.
Support preparation of ad hoc reports both internally to governance forums and externally (Long Form Report) on topics other than AML/CTF
Contribute to the review cycle of the compliance policies.
Maintain a log at NTGS SE, and inform EMEA Regulatory Liaison, of all interactions with the financial supervisory authorities of NTGS SE, including the ones of NTGS SE branches
Alert and deliver “consultancy” style service to NTGS SE partners, including the branches, as well as to other compliance or business partners across NT group, in regards to the Luxembourg regulation other than AML/CTF. This includes:
Attendance to relevant business or project steering committees, or ad hoc meetings
Answer specific asks per email or memorandum
Review and require when necessary enhancements to the e training modules for NTGS SE partners, or provide ad hoc trainings if necessary
Control that the 1st Line of Defence has:
Understood the regulatory requirements
Taken ownership and set the adequate resources for getting its operational processes and related 1st Line controls adapted to ensure effective compliance with it
Committed to take corrective actions on eventual gaps and delivers on the action in time
Taken good note at the executive level of eventual slippages on corrective actions
Represent NTGSE SE Compliance Function at the EMEA Regulatory Change & Oversight meetings; identify, assess and report to the Authorised Management those regulations, directives and circulars appliable to NTGS SE. Together with the CCO, lead the communication with the 1LOD for the subsequent implementation of those regulations as applicable.
Prepare the yearly Compliance Report to the CSSF, discuss changes and enhancements with the CCO and regional Compliance Head.
Review regulatory notifications and applications prior to submission to the CSSF (E-desk, MFT, etc), including but not limited to attestations, outsourcing notifications and letters related to regulatory matters.
Support the CCO in the preparation of reports and presentations for the yearly meeting with the CSSF, monthly Management Risk Committee and quarterly Board Meetings.
Skills/Qualifications:
The successful candidate will benefit from having:
Several years of experience in the compliance area in the banking or asset servicing industry in Luxembourg.
In depth understanding of Custody, Depositary, Transfer Agency, Fund Accounting, Capital Market services and sound bank governance;
Proven expertise of all the laws, circulars ad regulations mentioned in this job description;
Proven experience in compliance governance, reporting and oversight, including presenting to and engaging with senior internal and external stakeholders.
Self-motivated with the ability to operate independently or work as part of a team;
Effective time management.
Very good written skills with an ability to prepare succinct risk reporting;
Well-developed verbal communication skills with an ability to effectively present and contribute in business meetings and risk forums.
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 MyHRHelp@ntrs.com, or alternatively you can discuss your individual requirements with the recruiter you are working with.
About Our Luxembourg Office
In 2024, the Northern Trust Luxembourg office celebrated their 20th anniversary, an important chapter in their history. Having opened in 2004 to support one client, they have since grown their client base substantially and increased their headcount significantly, which now stands at over 400.
From modern fully equipped meeting rooms to a vast canteen with a view over a vegetable garden, maintained by our team all year round, and a rooftop where beehives have been installed, this space is truly a source of pride for our team. Learn more.