Operational Resiliency, Vendor Management

Location
Chicago, Illinois, United States
Salary
Unspecified
Posted
16 Sep 2021
Closes
11 Oct 2021
Ref
90819
Contract type
Permanent
Hours
Full time
Experience level
Manager

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.

Operational Resiliency, Vendor Management 

Summary: 

The Third Party Vendor Management role serves as a specialist within the Operational Resiliency team. This role will closely interact with different stakeholders across the organization to ensure that Third Party risks are appropriately managed, and that Corporate Risk Policy and supporting guidelines are embedded and adhered to. 

Responsibilities: 

  • Lead the Third Party Risk governance framework in the 1LOD, with oversight and reporting to C&IS and Global Services Leadership on related risk and control profile, issues / incidents and any relevant emerging risks
  • Leads the Third Party Vendor Management Team
  • Ensure that Third Party Risk policies and guidelines are adhered to, and provide actionable support and guidance to the Business 
  • Identify and assess any concerning trends and address with the Business. This may include (but not limited to) oversight and monitoring of emerging risks, weaknesses in controls and material change programs, deterioration in service / performance standards, and provide guidance on mitigating actions 
  • Review of internal and external Third Party Risk related events and issues, to ensure that the root cause is adequately identified and remediation actions are fit for purpose
  • Ensure appropriate oversight / governance of intra-group arrangements is in place, and changes to business models are accurately reflected in applicable group documentation. This will include liaising (as needed) with Legal Entity Outsourcing Managers 
  • Support local regulatory and audit engagements pertaining to Third Party Risk; this includes supporting remediation activities
  • Promote and develop Third Party Risk awareness and risk management culture in order to ensure that the material risks are both evident and effectively managed
  • Act as a point of coordination between the GS & C&IS teams and the Corporate Risk team 
  • Build and maintain relationships with different stakeholders including regulators and Audit, to keep up to date with developments

Skills and Knowledge: 

  • 10+ years of experience in risk management roles working in Third Party Risk related topics including understanding of local regulatory guidelines. 
  • Fluid understanding of Third Party Risk management principles, including experience with policy development, control definition, and application of controls in the business
  • Comprehensive knowledge of Third Party Risk control environment
  • Strong knowledge of corporate risk policies and standards
  • Strong working knowledge of technologies relevant to responsibilities
  • Strong analytical skills including the use of relevant Tools such as Power BI
  • Ability to drive to execution
  • Strong collaboration, influencing, communication and presentation skills
  • Strong leadership skills

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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