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Risk Management Control-Hedge Funds Location: Chicago, IL ______________________________
S eeking a risk management control professional to work closely with our business units' leadership as well as corporate risk management, compliance, internal audit, and external audit firms. The control professional will devise a program to track, monitor and test the implementation & effectiveness of controls derived from a number of sources (legal, audit, risk management, compliance, business oversight, business operations, regulatory bodies, etc.) and communicate results and recommendations to various stakeholders for dissemination to the appropriate areas of management. The successful candidate will be a seasoned and autonomous self-starter who will develop strong collaborative relationships with senior managers across a variety of functions.
At the direction of the Control Lead, with input from risk and compliance, conduct proactive assessments and periodic testing of internal processes, procedures, and client specific servicing deliverables to a) ensure compliance with SLA's, corporate policies, organization standards and regulatory requirements and b) ensure proper | effective controls are in place
Applies analytical skills to review processes and ensure proper preventative and detective controls are in place for business functions and prepares recommendations to strengthen identified control weaknesses.
Escalate risk and control related matters for the entire department to the Control Lead, Risk Consultant and Compliance Manager, as appropriate.
Oversee the status of action items resulting from for all audits and regulatory examinations to ensure timely implementation.
Responsible for testing the efficacy of the action items with the business units to ensure ongoing compliance.
Collaborate with the business units to further enhance control environment
Produce independent risk and control reporting which will include (but not limited to) - statistics on mandatory training, meeting attendance & action items, remediation of the status of audit | compliance | regulatory issues, status of strategic change and impact to operational model and controls, etc. This will include ongoing communication of test results, related reporting & any recommendations | enhancements to Control Lead, Risk Consultant, and Compliance Manager for additional consideration or appropriate escalation. Testing results will also be presented at monthly Risk Management Council as appropriate.
Collaborate with Compliance Manager to ensure regulations and enforcement actions applicable to the business are communicated to management and taken into account when considering control environment enhancements and related monitoring activities. Compliance Manager will also provide direction regarding necessary assessments and testing.
Collaborate with Centralized Accounting Policy team to ensure new accounting guidance is being implemented or escalated for further assessment.
Participate in monthly reviews with Financial Control to highlight items for further investigation or escalation.
8+ years of experience in risk management, operations, control or internal audit (or similar work experience). Public accounting firm experience desirable and/or prior work with SOC1 or similar projects
Understanding of risk and controls, basic understanding of IT general controls a plus. The applicant must be able to apply these to 'real-life' scenarios
Ability to work independently and self-motivated as well as effectively manage projects (e.g., define and manage scope, milestones, deliverables)
Detail oriented and critical thinker
Ability to work with individuals from all levels of the organization
Excellent communication and organizational ability
MS Office proficient
Financial Services experience in the asset management sector (e.g. fund administration, capital markets) preferred