Senior Consultant, Third Party Risk Management

Northern Trust • Chicago, IL

3d • Remote

About The Position

Serve as the institution’s central owner for the third party across all engagements and business units. Maintain a holistic view of the third party’s performance, risk posture, and concentration of exposure to the institution. Develops and cultivates strong relationships with assigned vendors and internal stakeholders. Ensure contractual terms, including risk, compliance, and resiliency provisions, are maintained, and enforced with third parties. Ensure timely completion of third-party risk assessments, periodic reviews, and issue remediation. Facilitate senior management or committee reporting on the third party, including performance against SLAs, material issues, concentration risk, exit strategies. Drives and supports proactive issue identification, mitigation, reporting and remediation by engaging internal stakeholders and third parties. Maintain strong documentation and evidence of controls, risk decisions, and remediations. Track milestones, dependencies, and deliverables across projects and/or an assigned portfolio of relationships. Rationalize supplier redundancy across the enterprise. Accountable for assisting and guiding business partners through various stages of third party lifecycle to ensure quality program execution. Use dashboards and key risk indicators (KRIs) to monitor third-party risk posture and performance and determine areas of focus. 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.

Requirements

• Strong consultative skills ranging from structured problem solving, identifying and gathering relevant data, solution and business case development, influencing and communicating the risk posture of third parties.
• Outstanding communication skills, both written and verbal, with demonstrated ability to develop presentation materials and effectively present to and persuade executive audiences.
• Strong understanding of 3rd party regulatory requirements and risk treatment exercises.
• 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.
• 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.
• An undergraduate degree in Risk or Finance and/or other appropriate academic major or 10 years of experience in Third Party Risk Management at a regulated financial institution.
• Demonstrated hands-on experience working with vendors/clients in other large financial institutions in a Vendor Management oversight practice.
• 10 years of experience as a Third Party Relationship Manager for large complex services providers that span multiple line of business.

Nice To Haves

• Data Visualization skills using Tableau, Power BI or equivalent tools is highly desirable.

Responsibilities

• Serve as the institution’s central owner for the third party across all engagements and business units.
• Maintain a holistic view of the third party’s performance, risk posture, and concentration of exposure to the institution.
• Develops and cultivates strong relationships with assigned vendors and internal stakeholders.
• Ensure contractual terms, including risk, compliance, and resiliency provisions, are maintained, and enforced with third parties.
• Ensure timely completion of third-party risk assessments, periodic reviews, and issue remediation.
• Facilitate senior management or committee reporting on the third party, including performance against SLAs, material issues, concentration risk, exit strategies.
• Drives and supports proactive issue identification, mitigation, reporting and remediation by engaging internal stakeholders and third parties.
• Maintain strong documentation and evidence of controls, risk decisions, and remediations.
• Track milestones, dependencies, and deliverables across projects and/or an assigned portfolio of relationships.
• Rationalize supplier redundancy across the enterprise.
• Accountable for assisting and guiding business partners through various stages of third party lifecycle to ensure quality program execution.
• Use dashboards and key risk indicators (KRIs) to monitor third-party risk posture and performance and determine areas of focus.
• 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.

Benefits

• 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
• other voluntary and well-being benefits
• discretionary bonus program that may include an equity component

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree