Senior Consultant, Enterprise Critical Vendor Program - Third Party Risk Management

Northern Trust • Tempe, AZ

2d

About The Position

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. Major Duties: · Supports transformation of Third Party Management (TPRM) program by partnering with Business, Procurement, Risk, 1st line Controls function and external consultants, including cross communication and change management efforts. · Provides ongoing monitoring and oversight of assigned critical or high priority vendors to ensure that the terms of the contracts are achieved. Includes reporting on adherence to KPIs, SLAs and financial targets. · Leads periodic QA/QC of TPRM deliverables and ECVM Lifecycle deliverables to ensure quality deliverables and compliance against policies. · Drives and supports proactive issue identification, mitigation, reporting and remediation by engaging internal stakeholders and vendors. · Shepherds’ discussions and coaches assigned vendor managers within the broader business on TPRM program requirements to ensure compliance with regulatory and business requirements. · Develops and cultivates strong relationships with assigned vendors and internal stakeholders. · Drives and supports implementation of automated controls and reporting to mitigate third party risk. · Performs ad-hoc business and operational data analytics to support management decision making, identify insights and make recommendations on a broad range of business initiatives. · Performs vendor analysis for criticality. · Strong understanding of 3rd party regulatory requirements and risk treatment exercises. · Supports full lifecycle of market data enablement which is critical to the business – drives entire lifecycle from understanding business needs for market data, identifying alternative vendors, engaging with Procurement, vendors and business to achieve commercially favorable terms, prepare business cases, steering its enablement and supporting governance and reporting. Knowledge: · Strong consultative skills ranging from structured problem solving, identifying and gathering relevant data, solution and business case development, influencing and communicating the story. · Outstanding communication skills, both written and verbal, with demonstrated ability to develop presentation materials and effectively present to and persuade executive audiences. · Intellectually curious with the ability to roll up the sleeves to drive change and business outcomes. · Strong project management skills with experience leading projects in a highly matrixed agile organization. · Advanced analytical and financial modeling skills using Excel, with ability to organize, structure and process moderate to large sets of data efficiently and effectively into meaningful and actionable insights. · Data Visualization skills using Tableau, Power BI or equivalent tools is highly desirable. · Highly flexible, adaptable to change and comfortable in a dynamic and fast paced work environment. · Excellent prioritization skills and comfort dealing with ambiguity. · Ability to be flexible with start and end dates as we will work across the Globe. · Global outlook with sensitivity and awareness of social and cultural differences.

Requirements

• An undergraduate or graduate degree in Risk or Finance and/or other appropriate academic major.
• Demonstrated hands-on experience working with vendors/clients in other large financial institutions in a 3rd party Risk/ Vendor Management/Market Data Vendor oversight practice.
• 2-3 years of experience as a Consultant/ Senior Consultant with a public accounting firm, or particular business/industry experience to meet special needs of vendor manager/ 3rd party oversight and contracting.
• Experience leading small cross-functional teams or projects with moderate risk and/or complexity.
• Strong consultative skills ranging from structured problem solving, identifying and gathering relevant data, solution and business case development, influencing and communicating the story.
• Outstanding communication skills, both written and verbal, with demonstrated ability to develop presentation materials and effectively present to and persuade executive audiences.
• Intellectually curious with the ability to roll up the sleeves to drive change and business outcomes.
• Strong project management skills with experience leading projects in a highly matrixed agile organization.
• Advanced analytical and financial modeling skills using Excel, with ability to organize, structure and process moderate to large sets of data efficiently and effectively into meaningful and actionable insights.
• Highly flexible, adaptable to change and comfortable in a dynamic and fast paced work environment.
• Excellent prioritization skills and comfort dealing with ambiguity.
• Ability to be flexible with start and end dates as we will work across the Globe.
• Global outlook with sensitivity and awareness of social and cultural differences.

Nice To Haves

• Experience working with Market Data Vendors in an Asset Management or Asset Servicing organization is highly desired.
• Data Visualization skills using Tableau, Power BI or equivalent tools is highly desirable.

Responsibilities

• Supports transformation of Third Party Management (TPRM) program by partnering with Business, Procurement, Risk, 1st line Controls function and external consultants, including cross communication and change management efforts.
• Provides ongoing monitoring and oversight of assigned critical or high priority vendors to ensure that the terms of the contracts are achieved. Includes reporting on adherence to KPIs, SLAs and financial targets.
• Leads periodic QA/QC of TPRM deliverables and ECVM Lifecycle deliverables to ensure quality deliverables and compliance against policies.
• Drives and supports proactive issue identification, mitigation, reporting and remediation by engaging internal stakeholders and vendors.
• Shepherds’ discussions and coaches assigned vendor managers within the broader business on TPRM program requirements to ensure compliance with regulatory and business requirements.
• Develops and cultivates strong relationships with assigned vendors and internal stakeholders.
• Drives and supports implementation of automated controls and reporting to mitigate third party risk.
• Performs ad-hoc business and operational data analytics to support management decision making, identify insights and make recommendations on a broad range of business initiatives.
• Performs vendor analysis for criticality.
• Strong understanding of 3rd party regulatory requirements and risk treatment exercises.
• Supports full lifecycle of market data enablement which is critical to the business – drives entire lifecycle from understanding business needs for market data, identifying alternative vendors, engaging with Procurement, vendors and business to achieve commercially favorable terms, prepare business cases, steering its enablement and supporting governance and reporting.

Benefits

• Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits.
• Northern Trust also provides a discretionary bonus program that may include an equity component.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees