14 days old

Wealth Management Data Privacy Lead, VP

Northern Trust
Chicago, IL 60602
  • Job Code
    23741

WHO WE ARE:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service. Today, we are going through a metamorphosis -starting with our Wealth Management business where we are embracing Agile ways of working and exploring new technologies like cloud, analytics, microservices architecture, etc. Last but not least, our advanced Digital design systems enable us to put our valued customers at the heart of our user experience.

WHO YOU ARE:

The Wealth Management (WM) Data Privacy Lead is responsible for the implementation and oversight of the Wealth Management Privacy Governance Program. The WM Data Privacy Lead provides proactive leadership and guidance to business leaders and partners to strengthen the privacy culture within the business model, and to ensure compliance to privacy regulations and any other applicable laws, rules and standards associated to privacy.

The WM Data Privacy Lead assists with mitigating the operational and reputational risk associated with managing client data. This partner contributes to the development of client-facing privacy materials and liaisons with the respective groups within WM to support privacy related client communications - both generically and in high risk situations. High Impact Privacy Notifications are drafted in conjunction with Business, Privacy and Legal. The role will drive privacy-related activities that are large in scope, cross-functional and technically demanding.

The WM Data Privacy Lead will adhere to and assist Northern Trust's privacy program in an effort to ensure the Company meets its regulatory and contractual obligations. This role is embedded in the Data Operations and Oversight (DOO) group, reporting to the Head of Wealth Management DOO. The position will work under supervision to provide privacy operational leadership, guidance, and support for WM.

Responsibilities:

Serve as the WM Business Unit privacy compliance officer, the WM Data Privacy Lead is the primary escalation point in WM related regulatory examinations and other privacy related matters

Work closely with global Privacy, keep abreast of new regulations, regulatory changes, and internal policy changes that have Wealth impact to ensure Wealth Management adheres to all privacy related mandates in order to eliminate / mitigate financial, operational and reputational risk

Create & implement a robust WM Privacy Program. Lead key WM privacy initiatives in collaboration with other stakeholders and be accountable for executing on the Privacy mission. Drive to eliminate privacy gaps

Identify and assess client privacy expectations and work with Global Privacy and the Business to establish a roadmap that defines the required controls to align with the client experience the firm wants to deliver, evidencing client data privacy as a top priority for the firm

Hold WM business units accountable for resolving issues in a timely manner. Ensure preventative measures are implemented to avoid reoccurring privacy incidents

Advise and communicate on relevant matters. Responsible for developing a sustainable plan to gradually reduce privacy incident risks and assist with reporting and mitigating privacy incidents. (Privacy reporting to WMRC and privacy incidents response with WM clients)

Contribute to the execution of the Global Privacy Risk Monitoring Plan across WM. Monitor privacy controls and perform annual risk assessments to verify controls are operating effectively at the business unit level

Partner with various risk management and control groups throughout the organization; actively participate in management and risk forums to represent data privacy

Complete data protection impact assessments (DPIA) or privacy by design (PbD) questionnaires for newly added or updated systems involving WM data and work with the Business to reduce privacy risks identified through this process

Foster and promote Northern Trust's commitment to a strong risk management culture by developing a thoughtful privacy mindset across Wealth Management

Provide advice and support on Wealth Management data protection issues in line with global data privacy strategies, policies and procedures

Work in close collaboration with the Data Governance Office, Information Security and Technology Risk Management, and Privacy teams to ensure compliance to CCPA and other privacy regulations applicable to WM. Fulfill individual rights requests promptly when received from the privacy team

Ensure compliance to the Retention Schedule. Validate the attestation of custodians on a yearly basis

Design, implement and enforce a mechanism for proper sharing of PII information within the Wealth Management business unit and beyond

Responsible for the review, maintenance and communication of required privacy notices to WM clients

Update RACI matrices to hold control owners accountable for privacy activities of both structured and unstructured data

Responsible for authoring relevant business unit privacy standards and training partners where applicable







QUALIFICATIONS:

JD or Master's degree from related field of study is required. Certified Information Privacy Professional (CIPP) is a plus

Mins 7-10 years of relevant work experience (in data protection and legal compliance) preferably from financial services industry

Previous experience as a Privacy Officer or an Internal Auditor for a reputable company is a plus

Solid understanding of applicable privacy regulations

Ability to handle confidential information. Forward-thinking and creative individual with high ethical standards. Ability to remain impartial and report all non-compliances

Strong communication, facilitation and negotiation skills to get alignment with the business even in difficult situation

Teamwork, collaboration and consultative skills required

Organizational skills with attention to detail and project management experience are preferred

Comfortable multi-tasking and working in a dynamic environment

Strong analytical and problem-solving skill

WHY 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 that is committed to strengthening the communities we serve. Our talented, driven and energetic people are truly changing the face of Northern Trust. The speed with which we work, the influence of each partner and the focus to positively change the client experience is our common passion. People are our greatest Wealth, so if you have a genuine desire to work in a fast-paced, Agile, inclusive environment which values teamwork, well-honed problem-solving skills, deadline management, ongoing and comprehensive communication, constant attention to detail, and a commitment to continuous improvement then

seek no more!

Additional Information






Posted: 2021-09-12 Expires: 2021-10-11
Sponsored by:
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Sponsored by:
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Wealth Management Data Privacy Lead, VP

Northern Trust
Chicago, IL 60602

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