Senior Vendor Manager (Assurance) - SVP

Location
Chicago, Illinois, United States
Salary
Unspecified
Posted
09 Jul 2021
Closes
09 Aug 2021
Ref
88314
Contract type
Permanent
Hours
Full time
Experience level
Manager

This role will be responsible for leading the Vendor Management team. Will be responsible for developing and implementing the Vendor Management strategy as well as managing the day to day operations of the team. This individual will partner with key stakeholders and our supply chain to ensure that the process and documentation are effectively created, monitored and cultivated to achieve business objectives.

Responsibilities

  • This role will take an entrepreneurial approach to defining and building out a boutique vendor management function for the bank. From defining the VM management roles & job descriptions to recruiting, hiring & training a new team of skilled vendor managers to support NT’s 3rd party management oversight program
  • Develop/maintain strong long terms working relationships with key business decision makers internally and externally with regulators, suppliers and key stakeholders throughout the year
  • Provide proactive centralized Vendor Management for key suppliers so that the terms of a contract are adhered to and the contractual benefits are realized
  • Organize and conduct Supplier Business Reviews (SBRs) to include the reporting and tracking of KPIs.
  • Risk Management - Maintain a close working relationship with vendors to help reduce risk; support regular performance management discussions for key suppliers to ensure that any issues are surfaced and can be mitigated before they become a problem
  • Resilience and continuity - maintaining a constant dialogue with key Third Party vendors the allows the business to assess any ongoing risks to supply/ system outages and make alternative plans in a timely fashion if required
  • Compliance – support periodic assessments of compliance so that any risk associated with legislation or company standards is minimized
  • Develops escalation processes for incident reporting and other key supplier risks and support resolving disputes across suppliers and NT. Leads the internal process redesign work for the vendor management group
  • Participate on teams to develop and execute strategies that increase savings, efficiency (and were possible opportunities to gain productivity) and reduces risks
  • Conducts market analysis and identifies trends in the vendor management/ risk oversight space

Knowledge & Skills

  • Must also have strong analytical, communication, interpersonal and leadership 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
  • Leadership and organizational skills are required to direct the activities for the multiple units
  • Project Management skills

Requirements

  • An undergraduate or graduate degree in Finance or Risk and/or other appropriate academic major is highly preferred
  • Demonstrated hands-on experience working with vendors/clients in other large financial institutions in a Risk/ Vendor Management practice
  • 8-10 years of experience as a Senior Consultant/ Manager with a public accounting firm, or particular business/industry experience to meet special needs of vendor manager/ 3rd party oversight

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With over 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

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 that is committed to strengthening the communities we serve!

We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why we are honored to receive the following awards in 2021:

  • Gender Equality Index Member, Bloomberg
  • Top Financial & Banking Company, Black EOE Journal, Hispanic Network Magazine, Professional WOMAN'S Magazine

For further information, and to apply, please visit our website via the “Apply” button below.

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