Audit Specialist - Asset & Wealth Management

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.

Audit Services offers financial services professionals the opportunity to work on some of the most complex and impactful issues in the industry. Our team applies insight, objectivity, and technical expertise to help protect and strengthen Northern Trust’s legacy. We are a collaborative, globally connected team of over 200 professionals.

The Audit Specialist is responsible for conducting and documenting audits across Asset and Wealth Management. 

Major Duties

• Support the development and execution of risk-based audit coverage over Asset Management and Wealth Management activities, leveraging subject matter expertise to identify key risks, controls, and emerging themes.
• Serve as a subject matter resource for audit engagements involving investment management, fiduciary services, wealth management, portfolio administration, client servicing, and supporting business processes.
• Participate in audits, issue validations, risk assessments, continuous monitoring activities, and advisory engagements in roles ranging from lead auditor to technical specialist.
• Assist Audit Services management in evaluating emerging risks, regulatory developments, industry trends, and business changes impacting the AMWM portfolio.
• Provide technical guidance to audit teams regarding business processes, products, risks, controls, and regulatory requirements within assigned areas of expertise.
• Review and evaluate the design and effectiveness of governance processes, risk management activities, and internal controls across business units.
• Analyze audit results and identify themes, trends, and potential areas requiring additional audit coverage or management attention.
• Support the preparation of audit reports, executive summaries, and committee materials by providing subject matter expertise and risk insights.
• Participate in meetings with business management to discuss risks, control concerns, audit observations, remediation activities, and business developments.
• Monitor regulatory and industry developments affecting Asset Management and Wealth Management activities and communicate potential impacts to Audit Services leadership and engagement teams.
• Apply analytical techniques and data-driven approaches to identify control weaknesses, emerging risks, and opportunities to enhance audit coverage.
• Build and maintain knowledge of assigned business units, including organizational structure, products, services, operational processes, regulatory requirements, and strategic initiatives.
• Partner with Audit Managers, Senior Specialists, and Directors in the development of audit scopes, risk assessments, and testing strategies.
• Support special projects, thematic reviews, and strategic initiatives within Audit Services.
• Contribute to continuous monitoring and ongoing risk assessment activities by identifying changes in the business environment and risk profile.
• Assist in developing audit staff through coaching, knowledge sharing, and subject matter training within areas of expertise.
• Represent Audit Services on working groups, risk committees, and business forums as assigned.
• Support strategic initiatives and continuous improvement efforts designed to enhance audit effectiveness, efficiency, and use of data analytics.

Knowledge

• Working knowledge of internal auditing standards, risk management principles, and internal control frameworks.
• Understanding of Asset Management and Wealth Management products, services, operations, and associated risks.
• Familiarity with regulatory requirements impacting investment management, trust, fiduciary, and wealth management activities.
• Strong analytical and problem-solving skills with the ability to identify control weaknesses and emerging risks.
• Effective report-writing, presentation, and communication skills.
• Ability to analyze complex business processes and communicate technical concepts to diverse audiences.
• Knowledge of data analytics and technology-enabled audit techniques preferred.
• Professional certification such as CPA, CIA, CISA, CFA, or equivalent certification preferred.
• Strong organizational and project management skills.

Experience

• Bachelor's degree in Accounting, Finance, Business, Information Systems, Economics, or a related field.
• 10+ years of experience in internal audit, risk management, compliance, public accounting, or financial services.
• Experience auditing, assessing, or supporting Asset Management and/or Wealth Management activities preferred.
• Prior experience serving as a lead auditor, senior auditor, audit manager, risk specialist, or subject matter expert preferred.
• Demonstrated ability to manage multiple assignments while working effectively with business partners and audit teams.

Working Model: Hybrid (#LI-Hybrid)

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Salary Range:

$114,700 - 194,900 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

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 [email protected], or alternatively you can discuss your individual requirements with the recruiter you are working with.