Senior Consultant, Compliance

About Northern Trust

Northern Trust stands as a global frontrunner in wealth management, asset servicing, asset management, and banking, supporting the world’s elite individuals, families, corporations, and institutions for over 135 years. Guided by the enduring principles of Service, Expertise, and Integrity, Northern Trust fosters these values among its 24,000+ partners and the clients and communities it serves worldwide.

Key Responsibilities

• Offer compliance advisory support to the APAC FX teams located in Singapore, Australia, and China, advising business and management on regulatory obligations and industry best practices.
• Assist in administering the monitoring and surveillance framework for the APAC FX operations.
• Act as compliance representative in governance committees, preparing and submitting pertinent reports, data, and documents as needed.
• Analyze current and forthcoming regulatory requirements compared to existing processes and controls to detect and escalate potential risks or gaps, proposing procedural adjustments as necessary.
• Review regulatory consultation papers and guidance, collaborating with relevant industry organizations such as ISDA and ASIFMA when applicable.
• Facilitate communication, assessment, and implementation of regulatory changes.
• Contribute to responses for regulatory requests and occasionally participate in interactions with regulators.
• Advise on compliance programs, relevant laws, regulations, standards, risks, and documentation, keeping stakeholders informed of developments impacting their areas.
• Evaluate compliance programs against evolving regulatory standards and new developments.
• Deploy and integrate global and regional compliance frameworks, including monitoring, testing, assurance, and action plan execution.
• Collaborate with compliance officers across legal entities to implement local compliance programs for FX locations involving licensing, complaints, breaches, errors, and investigations.
• Work jointly with risk, compliance, and control teams across regional and global teams, sharing insights and information.
• Maintain ownership of APAC FX policies and procedures relevant to the regional business and internal compliance functions.
• Design and deliver compliance-related training as required.
• Lead and execute compliance projects within the region.

Qualifications and Skills

• Previous experience in FX compliance within global financial institutions, notably involving sales or trading desk advisory, with derivatives knowledge considered a bonus.
• Familiarity with Asia FX regulations, particularly those of MAS, Singapore, Korea, Australia, and China.
• Understanding of FX Derivatives regulations including trade reporting, and operational processing such as trade booking, settlement, and confirmations, including ASIC derivative transaction reporting obligations.
• Experience providing compliance advisory and operational support, including facilitating business changes and product launches.
• Strong knowledge of MAS Cross Border Exemption framework.
• Exposure to CFTC Swap Dealer compliance requirements related to FX.
• Excellent organizational capabilities paired with a collaborative working style and strong interpersonal skills.
• Ability to collaborate efficiently within a global team environment, ensuring smooth engagement between business and compliance stakeholders across regions.
• Awareness of global market conduct standards like the Global FX Code and MAS Blue Book is advantageous.
• Fluent verbal and written English communication skills, with clarity and conciseness.
• Solid financial industry background supported by compliance, audit, legal, or risk management experience; especially knowledge pertinent to brokerage businesses in a global financial context.
• Proven experience interfacing with personnel at all organizational levels.
• Project management experience is preferred.

Working Environment and Culture

Employees at Northern Trust benefit from a flexible and collaborative culture with strong financial stability. The organization encourages internal mobility, access to senior leadership, and values inclusivity and community involvement. Philanthropy is a core aspect of the company culture, inspiring partners worldwide to contribute their time and talents to community betterment.

Reasonable Accommodation

Northern Trust is dedicated to supporting individuals with disabilities or health conditions through reasonable accommodations during the employment process. Candidates requiring accommodations may contact the HR Service Center or their recruitment contact to discuss their specific needs.