Job description

In conjunction with Northern Trust’s FX Risk Manager, performs assigned duties covering the administration, risk management, and reporting of international credit risk. Provides thoughtful, balanced guidance at assigned credit committees and to relationship staff and business unit credit staff, especially for credit risks relating to global custody, subcustody, FX, derivatives, product development, and operational matters. Liaises with business units in evaluating business development strategies to minimize risk and ensure compliance with relevant laws and legislation, including Basel II US Final Rules. Analyzes and evaluates legal agreements and new products and business proposals to assess risk and compliance. Provides back-up coverage and support to FX Risk Manager and Head of International Risk.

Knowledge/Skills

• Knowledge of:

o Basel II knowledge essential

o credit risk management, including FX and derivatives,

o federal, state, and local laws and regulations (including Basel II Final Rules) pertaining to global custody and related institutional credit products and services, and

o corporate fiduciary compliance,

acquired through formal education and work experience, is required to ensure that credit, client, product, and operational risks are managed and maintained within acceptable risk tolerances.

• Knowledge of counterparty, credit, and institutional trust and custody risk management is required to translate corporate strategic goals into policies, practices, and processes that minimize risk and ensure compliance with relevant laws and regulation.

• Negotiation and analytical skills are necessary to consult with partners and clients, evaluate credit risk, and apply regulations.

• International awareness and interest are required due to the global nature of the credit and related risks managed.

Major Duties 1. Performs assigned duties relating to the administration, risk management, and reporting of FX credit risk.

2. Recommends approval or denial of business and lending agreements for assigned credit committees. Advises partners on the acceptance of various pieces of new institutional trust and custody business. Evaluates Northern Trust’s ability to provide specific services, and/or to restructure processes and products to accommodate client needs.

3. Provides leadership, and/or thoughtful, balanced participation at assigned risk committees (e.g. Country Risk Management Council, Subcustodian Oversight Committee, Counterparty Risk Management Committee, New Product Risk).

4. Works with risk, custody product, client contact, and operational areas to proactively establish and document bank business and credit policies as changing market needs dictate. Guides management in developing policies that minimize risk.

5. Consults with partners regarding day-to-day client and product decisions and potential new product offerings that could pose potential risk to Northern Trust or which conflict with existing bank policy.

6. As needed, analyzes, and evaluates proposed changes to standard legal agreements between the bank and clients to assess business and credit risk and recommends an appropriate course of action.

7. Serves as a member of internal and external committees and groups (counterparty, global custody, and similar areas) to provide and receive advice regarding current industry trends.

8. Communicates with regulators and auditors (internal and external) regarding questions on institutional trust and custody and related credit policies and procedures.

9. Provides leadership input for Basle-related decision-making relating to assigned units. In particular, provides leadership for custody exposure ratings and reporting needs.

10. In the absence of the FX Risk Manager and/or Head of International Risk, provides coverage for FX and International credit risk activities of the Credit Policy - International Risk unit.

Substantial experience of institutional trust, custody, asset services, credit, derivatives, compliance, and risk management experience.