Northern Trust Launches Operational Risk Consulting

Shanny Basar
Northern Trust Launches Operational Risk Consulting

Northern Trust Front Office Solutions announced the launch of Operational Risk Consulting, a bespoke service that provides management consulting with a specialized focus on investment operations. The service deploys the expertise of Northern Trust as an industry leader in asset management and asset servicing to identify enhancements to operating models and drive operational efficiencies.

“The velocity of change accelerated within the investment industry in 2020, and institutions can no longer ignore the effects on both operations and business,” said Vincent Molino, Head of Operational Risk Management Solutions at Northern Trust, who will lead the new consulting service. “Looking to 2021, many investment organizations realize their operating models will need to evolve to respond to the expectations of key stakeholders such as investors or beneficiaries, business partners, investment consultants and governance bodies.”

As organizations evolve, Operational Risk Consulting can provide enhancements to front, middle, and back offices, advising on the adoption of new technologies and recent trends toward consolidation. Along with asset management firms, organizations such as outsourced chief investment officer (OCIO) firms and family offices are looking for help in building out robust and future-proofed operations as they grow in complexity and sophistication.

“Northern Trust’s extensive experience in helping investment groups manage and evolve their operating models aligns with our Whole Office strategy to provide integrated services and technology across the investment lifecycle. Combining this perspective with insights from our Operational Due Diligence practice leverages our expertise in enterprise assessment and provides solutions that enhance operations to the specific needs of individual clients,” Molino said.

Within the Operational Risk Consulting offering, solutions can be provided through a variety of  disciplines, including:

  • Advisement on operating model enhancements and risks
  • Technology and system evaluations
  • Vendor and service provider assessments
  • Operational process gap analysis

Northern Trust Operational Risk Management Solutions is part of Northern Trust Front Office Solutions, an integrated, cloud-based service and data platform that enables investment offices to analyze data from disparate sources across all asset classes in a centralized repository. The platform is enhanced by a la carte support services, including Operational Risk Management, and outsourced middle- and back-office services.

Source: Northern Trust

Related articles

  1. Richard Turner of Insight Investment sees more automation and more transparency around cost and outcomes.

  2. The suite enables GAM to seamlessly manage market risk exposure and liquidity and investment risk.

  3. Asset manager anticipates an SEC decision on converting its fund to a spot bitcoin ETF by early July.

  4. Fidelity continues to hire thousands to support cryptocurrency.

  5. Tradeweb Draws Buy Side in Europe

    Net sales registered net outflows of €3bn, compared to €42bn in March 2022.