Ai Risk Manager Jobs in Illinois (NOW HIRING)

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.

Role Purpose

The AI Risk & Controls Lead is responsible for establishing and operationalising first-line-of-defence (1LOD) controls for AI across the enterprise.

This role ensures that AI solutions are designed, deployed, and managed in line with regulatory, risk, and audit expectations, while enabling responsible innovation at scale.

Key Responsibilities

🔹 AI Governance & Control Framework

• Define and implement AI control frameworks aligned to enterprise risk standards
• Embed 1LOD controls across AI lifecycle (design build deploy monitor)
• Partner with Risk, Compliance, and Audit to ensure alignment with enterprise policies

🔹 AI Model Management & Oversight

• Oversee AI model inventory, classification, and lifecycle management
• Define and enforce model governance standards (documentation, approvals, controls)
• Ensure traceability of models, datasets, and decision logic

🔹 Documentation & Regulatory Readiness

• Own end-to-end AI documentation standards (models, use cases, controls)
• Ensure readiness for internal audit, regulatory inspection, and model validation
• Maintain audit-ready evidence repositories

🔹 Controls Monitoring & Reporting

• Define and track AI control metrics, usage tracking, and compliance indicators
• Monitor adherence to policies (ethical AI, data usage, model risk)
• Provide risk dashboards and reporting to leadership

🔹 AI Risk & Audit Partnership

• Act as primary 1LOD interface with 2LOD (Risk) and 3LOD (Audit)
• Support audits, reviews, and issue remediation
• Translate regulatory expectations into practical control execution

🔹 Enablement & Advisory

• Advise AI delivery teams (CoPilot, Digital Co-Worker, ACE, etc.) on control requirements
• Embed controls into AI operating model and delivery pipelines
• Drive awareness of responsible AI practices across teams

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.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Working with 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 committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust's history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com, or alternatively you can discuss your individual requirements with the recruiter you are working with.