Artificial Intelligence (AI) Risk Specialist

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

The Risk Manager for AI will serve as a senior member of the 2LOD team, responsible for providing independent oversight, challenge, and governance of AI-related risks across the enterprise. This role will focus on ensuring that AI initiatives—particularly those involving generative models, automation, and decision-support systems—are developed and deployed in alignment with regulatory expectations, ethical standards, and internal risk frameworks. This involved carrying out complex initiatives involving multiple disciplines and/or ambiguous issues.

The ideal candidate will a will be a seasoned multi-disciplinary expert with extensive technical and / or business knowledge and functional expertise in risk avoidance and compliance, with the ability to display a balanced, cross-functional perspective, liaising with the rest of the business to improve efficiency, effectiveness and productivity.

The key responsibilities of the role include:

AI Governance & Frameworks

• Contribute to the development and refinement of AI-specific risk frameworks, policies, and control standards.
• Embed AI risk considerations into enterprise-wide change programs and ensure alignment with the Enterprise Change Risk Policy.
• Monitor and report on the effectiveness of risk management methods and processes and make recommendations for continuous improvement for the AI risk program.
• Collaborate with cross-functional teams to ensure compliance with AI risk management policies and procedures.
• Stay current with industry trends and emerging threats to ensure Northern Trust’s AI risk management practices remain effective and up-to-date.

Risk Oversight & Challenge

• Independently review and challenge AI risk assessments conducted by 1LOD teams, including model risk, data integrity, operational, compliance, and reputational risks.
• Validate the completeness and accuracy of Level 4 risk descriptions and their alignment with the enterprise risk taxonomy.
• Conduct regular assessments to evaluate the effectiveness of AI management processes including completeness and accuracy and recommend appropriate corrective action.
• Develop and implement methods and processes consistent with Program strategy for managing technology risk.

Program Execution & Monitoring

• Facilitate and monitor the execution of AI-related Change Program Risk Assessments (CPRA), including coordination with 1LOD and risk SMEs.
• Track and report key risk indicators (KRIs), residual risk ratings, and mitigation progress using tools like RAIDD logs.
• Establish and maintain key performance indicators for the operating effectiveness of the program.

Stakeholder Engagement

• Partner with Legal, Compliance, Technology, and Data Governance teams to ensure AI risk posture is well understood and managed.
• Represent 2LOD in AI steering committees, working groups, and executive forums.
• Provide expert guidance and support to business units on AI risk management best practices.

Regulatory & Ethical Compliance

• Stay abreast of evolving AI regulatory frameworks (e.g., EU AI Act, U.S. Executive Orders) and ensure internal practices remain compliant.
• Promote responsible AI principles, including fairness, transparency, and accountability.

The successful candidate will benefit from having:

• 10+ years of experience in risk management, technology risk, or audit, with at least 3 years focused on AI, data science, or emerging technologies.
• Deep understanding of AI systems, model governance, and risk frameworks.
• In-depth knowledge of AI risk, including risk assessment methodologies and mitigation strategies.
• Strong communication and analytical skills to engage with cross-functional stakeholders and senior leadership.
• Strong analytical and problem-solving skills, with the ability to identify and address complex technology risks.

#LI-LK2, #LI-Hybrid

Salary Range:

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.

Working with Us: 

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater 

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.

 
We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.