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.