Head of Due Diligence and Issues Management
- Recruiter
- Northern Trust
- Location
- Chicago, Illinois, United States
- Salary
- Unspecified
- Posted
- 31 Mar 2023
- Closes
- 11 Apr 2023
- Ref
- 105583
- Job role
- Accountant, Business analyst, Compliance/risk, Head of finance
- Contract type
- Permanent
- Hours
- Full time
- Experience level
- Director
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.
We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.
Northern Trust’s (NT) Chief Procurement Officer’s team for Third Party Management (TPMO) is responsible for the design and execution of the Third Party Risk Management Program in line with regulatory expectations, NT’s Third Party Risk Management Policy, and Third Party Practice Standard.
The Head of Due Diligence and Issues Management will report to the Head of TPMO and will be liaising with 1st Line of Defense for third party risk. Primarily this individual will work closely with the Head of TPMO to ensure timely and effective due diligence of Third Party engagements and robust issues management and risk treatment of open issues. This individual will be an expert in Third Party Risk Management and would be well versed in program execution related to the entire lifecycle of third-party engagements. This role interacts with the Head of Program Execution, business partners, vendors, and outsourced service providers to ensure timely assessments and issues management.
Responsibilities
- Accountable for overall Due Diligence of third parties across all risk domains, including quality check for all due diligence assessments completed by the managed service provider (MSP)
- Workload management, oversight, tracking and performance review of the MSP
- Challenging due diligence residual risk ratings and findings proposed by the MSP
- Overseeing the periodic review of all vendors for financial, reputational, cyber, and regulatory compliance risks using automated scanning tools and vendor databases
- Developing and maintaining criteria for residual risk and issue ratings and submitting for periodic review
- Tracking all open due diligence issues through their life cycle
- Adding and dispositioning issues in a timely manner, including resolving escalations (including vendor managers, ECVMs) from the due diligence service provider
- Periodic interaction with Business partners to update status related to due diligence and open issues for their engagements or to escalate issues on a risk basis.
- Responsible for all reporting related to due diligence and issues management ensuring that it is complete and accurate
- Will collaborate with the Head of Program Execution, 2nd Line of Defense, and Risk Domain Subject Matter Experts to periodically review domain questionnaires, control standards and residual risk rating and issue rating criteria
- Developing and reviewing desk procedures related to due diligence and issues management
- Must have a strong analytical and communication skills to be impactful with external regulators and partners
- Strong business acumen with proven ability to interact with all levels of the organization
- Highly flexible and adaptable to change
- An undergraduate or graduate degree in Accounting, Finance or Risk and/or another appropriate academic major is highly preferred.
- 5+ years of experience in particular business/industry experience to meet special needs of vendor manager/ 3rd party oversight or as a Consultant/ Senior Consultant with a public accounting firm
- Knowledge of ERM/GRC concepts and third-party risk management topics including information security; data privacy; leading security standards (ISO27001, NIST); certification reports (SOC 1, SOC 2) or control frameworks (COSO, ISO, COBIT, OCEG, etc.)
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.
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.
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.
Similar jobs
-
New
-
New
-
New