Consultant, Risk

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 worlds 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 worlds most sophisticated clients using leading technology and exceptional service. Position Summary The Enterprise Risk Identification Consultant is responsible for supporting the execution and continuous enhancement of the Enterprise Risk Identification (Risk ID) Program. The role partners with business units, corporate functions, legal entities, and second line risk teams to identify, assess, document, and report enterprise risks across the organization. The consultant serves as a key contributor to the maintenance of the Enterprise Risk Inventory, facilitates risk assessment activities, supports governance reporting, and provides effective challenge to ensure risks are appropriately identified, assessed, and escalated. The role requires strong analytical capabilities, stakeholder management skills, and a solid understanding of enterprise risk management frameworks. Key Responsibilities Enterprise Risk Identification & Assessment Facilitate quarterly and ad hoc risk identification activities across Risk Categories, Business Units, Corporate Functions, and Significant Legal Entities Support the execution of enterprise risk assessment methodologies and procedures Assist stakeholders in identifying current and emerging risks impacting the organization Review and challenge risk assessments to ensure consistency, completeness, and alignment with enterprise standards Evaluate risk drivers, impact factors, and likelihood assessments supporting risk materiality determinations Enterprise Risk Inventory Management Maintain and enhance the Enterprise Risk Inventory Ensure risks are appropriately aligned to enterprise risk taxonomy requirements Validate risk descriptions, classifications, risk drivers, and ownership information Partner with stakeholders to ensure timely completion of assessments, to include independent review and challenge Support quality assurance reviews of inventory data and reporting outputs Governance, Reporting & Analytics Prepare risk identification reporting for senior management, risk committees, and executive governance forums Analyze risk trends and concentrations across businesses, functions, and legal entities Develop dashboards, metrics, and presentation materials as necessary to support enterprise risk profile reporting Produce actionable insights regarding material and emerging risks Stakeholder Engagement Build relationships with First Line and Second Line partners to support effective risk identification and assessment Facilitate workshops, working sessions, and challenge meetings Provide guidance and training on Enterprise Risk Identification standards, procedures, and taxonomy requirements Support responses to regulatory, internal audit, and management inquiries regarding risk identification activities Continuous Improvement Identify opportunities to streamline risk identification processes, templates, and reporting Contribute to methodology enhancements and risk program transformation initiatives, to include the integration of AI capabilities Support integration of Enterprise Risk Identification activities with other key risk management functions such as Risk Appetite, Stress Testing, Scenario Analysis, Strategic Planning, and Operational Resilience Required Qualifications For internal applications - 24 months as Associate Consultant Bachelor's degree in finance, Business, Risk Management, Economics, Accounting, Information Systems, or related field 2-5 years of experience in Enterprise Risk Management, Operational Risk, Compliance, Audit, Consulting, Financial Services, or related disciplines Strong analytical and problem-solving skills Experience working with large data sets and reporting tools Experience using AI related tools Advanced Microsoft Excel and PowerPoint skills Excellent written and verbal communication skills Ability to influence stakeholders across multiple organizational levels Preferred Qualifications Experience supporting enterprise-wide risk programs within a regulated financial institution Knowledge of risk taxonomies, risk inventories, and risk assessment methodologies Familiarity with risk management .