Assistant Director - Wealth Business Controls (WMC Officer)

at  Northwestern Mutual

AT NORTHWESTERN MUTUAL, WE ARE STRONG, INNOVATIVE AND GROWING. WE INVEST IN OUR PEOPLE. WE CARE AND MAKE A POSITIVE DIFFERENCE.

About the role:
Accountable for the first line (business) oversight and controls, including the development, implementation, monitoring and, when required, updating of controls to manage risks associated with the Northwestern Mutual Wealth Management Company’s third party vendor risk management and affiliate oversight programs.
Includes assessing the proposed and ongoing use of third party vendors and Northwestern Mutual affiliates that provide services to the Wealth Management Company in accordance with Office of the Comptroller of the Currency (OCC) guidance and expectations.
As a named WMC Officer responsible for entity’s third party vendor risk management, represents WMC with regulators to discuss the above controls and oversight, and address/respond to any regulatory concerns.

Primary responsibilities include:

• Accountable for the management and coordination of activities related to internal audits conducted and owns the resolution of outstanding audit issues, and execution of management action plans.
• Collaborates and coordinates with partners in Enterprise Risk Assurance, Corporate Audit and Anti Fraud, Enterprise Compliance, Data Privacy, Cybersecurity, Technology, Sourcing and Procurement, and Business Continuity Programs.
• Responsible for monitoring and reviewing regulatory changes and industry practices related to OCC guidance on controls and oversight of third-parties and affiliates.
• Provides support for business disruptions to critical third-party vendors which may occur during non-standard business hours.
• Responsible for metrics and reporting related to assigned programs and maintains currency of approved vendors for use by WMC-affiliated field members.
• May present to the WMC Board of Directors discussing the above controls and oversight, any concerns identified and how such concerns are being addressed.
• Leads initiatives, projects of varying levels of complexity on behalf of WMC that may extend beyond the subjects of third-party vendor risk management and affiliate oversight.
• Makes policy change and exception recommendations on behalf of WMC.
• Responsible for program automation, reduction of duplicative work efforts throughout the organization, and maintaining a centralized documentation library.

Position Experience:

• Minimum of 8 years of experience in financial services industry with specific experience in supervision, investment management, vendor management, and/or information technology.
• Understanding of business processes, technology infrastructure and applications, and demonstrated ability to relate technology to business processes in financial services context.
• Investment management, compliance, contract management and/or risk mitigation experience preferred.
• Bachelor’s Degree with an emphasis in Finance, MIS, Business, or related field, or an equivalent combination of education and work experience. MBA preferred.
• IT/IS background and experience a plus.
• Proven ability to establish and maintain cross-functional relationships, influence change without authority, and lead the decision-making processes.
• Superior verbal and written communication skills.
• Strong customer focus and interpersonal skills.
• Excellent research, analytical, problem solving, planning and organization skills required as well as a high degree of personal initiative and motivation.

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We are an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.
If you work or would be working in California, Colorado, New York City, Washington or outside of a Corporate location, please click here for information pertaining to compensation and benefits.

Primary responsibilities include:

• Accountable for the management and coordination of activities related to internal audits conducted and owns the resolution of outstanding audit issues, and execution of management action plans.
• Collaborates and coordinates with partners in Enterprise Risk Assurance, Corporate Audit and Anti Fraud, Enterprise Compliance, Data Privacy, Cybersecurity, Technology, Sourcing and Procurement, and Business Continuity Programs.
• Responsible for monitoring and reviewing regulatory changes and industry practices related to OCC guidance on controls and oversight of third-parties and affiliates.
• Provides support for business disruptions to critical third-party vendors which may occur during non-standard business hours.
• Responsible for metrics and reporting related to assigned programs and maintains currency of approved vendors for use by WMC-affiliated field members.
• May present to the WMC Board of Directors discussing the above controls and oversight, any concerns identified and how such concerns are being addressed.
• Leads initiatives, projects of varying levels of complexity on behalf of WMC that may extend beyond the subjects of third-party vendor risk management and affiliate oversight.
• Makes policy change and exception recommendations on behalf of WMC.
• Responsible for program automation, reduction of duplicative work efforts throughout the organization, and maintaining a centralized documentation library