Third Party Management Risk Contracting Support
2 weeks ago
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.
This position will be responsible for reviewing contracts and identification risk assessment requirements within the Third Party Management Office (TPMO). The Risk Contracting Support will be responsible for assisting with implementing and executing the contracts review process, determining whether a risk assessment is required, as well as leading and overseeing critical global strategic sourcing and procurement projects. This role will interact with business units and the Procurement team on a daily basis.
Key Responsibilities
- Works collaboratively with strategic sourcing leads, business partners, and, if required, suppliers to identify service/product requests and assess criticality of risk resulting in the need for a risk assessment.
- Responsible for continuous oversight and management of service/product changes throughout the contract negotiations that would then result in the need for a risk assessment.
- Thought leader with experience or interest leading risk contracting projects
- Influences and drives improvements of global policies, programs and processes.
- Manages and supports regulatory and compliance requirements.
- Supports and helps present TPMO / Procurement performance metrics and projects to senior management.
- Establish and maintain relationship with key partners, education on policy/guidelines and resolving related request issues.
- Responsible for collaborating with the strategic design and development team to automate and periodically reviewing program related artifacts, risk methodologies, service categories and associated risk profile, reporting thresholds etc. for continued enhancements.
Success candidates will benefit from having:
- Excellent verbal and written communication skills.
- Functional/Industry knowledge is required.
- Contracting review and risk analysis oversight experience.
- Analytical and communication skills are required to analyze information and disseminate information.
- Leadership and organizational skills to direct the activities for the multiple business units.
- Ability to foster positive and proactive approach to process assessment and improvement and to identify trends and improve processes for both the customer and the business.
- Strong organization, attention to detail, time management, planning skills and the ability to handle multiple competing priorities.
- Strong organizational skills, a collaborative approach to work, with strong interpersonal skills.
- Demonstrates strong analytical skills with the ability to generate complex reports.
- Highly flexible and adaptable to change in a high demand environment.
- Proficiency in Microsoft Word, Excel, PowerPoint Visio as well as data analytic tools including PowerBI.
Qualifications
- Bachelor's degree and approximately 2-5 years of related work experience with clear understanding of and experience in financial services / internal audit / risk consulting preferred.
- An undergraduate or graduate degree in Accounting, Finance or Risk and/or another appropriate academic major is highly preferred.
- A thorough understanding of third-party (i.e., vendor, supplier, etc.) risk management, with prior experience in designing program solutions, risk scoring and aggregation methodologies and designing committee reporting.
- Understanding of global risk regulatory requirements with emphasis on US (OCC Bulletins, FFIEC, FRB, FDIC) or UK (PRA, FCA).
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.
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
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.
For further information, and to apply, please visit our website via the "Apply" button below.
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