Senior Consultant, Third Party Risk Management

Northern Trust • Chicago, IL

22h

About The Position

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.

Requirements

• Strong understanding of Third-Party Risk management principles, including experience with policy development, control definition, and application of controls in the business
• Strong 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
• Strong collaboration and communication skills
• Ability to drive to execution
• Applies knowledge of key business drivers and the factors that maximize department performance
• A College or University degree and/or relevant proven work experience is required
• 5-7 years of related experience in roles working in Third Party risk related topics

Nice To Haves

• Management Experience preferred

Responsibilities

• Involved in the Third-Party Risk governance framework in the 1st Line of Defence, with oversight and reporting to enterprise leadership on related risk and control profile, issues / incidents and any relevant emerging risks
• Works with Vendor Managers to ensure that Third Party Risk policies and guidelines are adhered to, and provide actionable support and guidance to the Business
• Escalates any concerning trends to Senior Management. 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
• Assists in 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
• Works to ensure appropriate oversight / governance of intra-group arrangements is in place, and changes to business models are accurately reflected in applicable group documentation. This may include liaising (as needed) with Legal Entity Outsourcing Managers
• Assists in the support of local regulatory and audit engagements pertaining to Third Party Risk; this includes supporting remediation activities
• Supports Third Party Risk awareness and risk management culture in order to ensure that the material risks are both evident and effectively managed
• Exercises judgment based on the analysis of multiple sources of information
• May lead small to medium size projects with manageable risks and resource requirements
• Acts as a resource for colleagues with less experience

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