Third Party Management Issue and Incident Management Program Lead

Northern Trust•Chicago, IL

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. This position will be responsible for leading operational support of the Third Party Management Office (TPMO) within the First Line of Defense to strategize on the areas throughout the lifecycle of Third Party Management Program that are required to be designed, enhanced, and implemented. The Issue and Incident Management Program Lead will be responsible for designing and implementing certain program lifecycle areas; while strategizing to ensure the multi-year program plan is adhered to. This role will interact with business units globally to implement processes and providing oversight once fully rolled out. The lead also serves as a seasoned thought leader and subject matter expert that has strong technical understanding of third party, risk management, reporting and gap analysis within the risk and/or financial services industries. The role will involve on-going program evolution and design, as well as, significant stakeholder management and collaboration across locations and across business units / functions as we look to evolve established programs to ensure risk management obligations while also addressing the existing and imminent cross jurisdictional regulations and regulatory expectations.

Requirements

Excellent verbal and written communication skills
In-depth Functional/Industry Knowledge is required
In-depth knowledge of the third-party risk management lifecycle activities
Ability to execute risk management strategy development to provide long term planning and managing ongoing risk performance
Experience with supporting and/or leading system implementations
Analytical and communication skills are required to analyze information and disseminate information
Leadership and organizational skills to direct the activities for the multiple business units
Ability to foster positive and proactive approach to process assessment and improvement and to identify trends and improve processes for both the customer and the business
Strong organization, attention to detail, time management, planning skills and the ability to handle multiple competing priorities
Ability to make independent decisions and also to be a team player and effective communicator to ensure that issues are appropriately resolved
Confidence and expertise to advise management and the business
Ability to use initiative and work unsupervised in a proactive manner
Strong organizational skills, a collaborative approach to work, with strong interpersonal skills
Demonstrates strong analytical skills with the ability to generate complex reports
Highly flexible and adaptable to change in a high demand environment
Proficiency in Microsoft Word, Excel, PowerPoint as well as data analytic tools including PowerBI
Bachelor's degree and approximately 5-10 years of related work experience with clear understanding of and experience in financial services / internal audit / risk consulting preferred
A thorough understanding of third-party (i.e., vendor, supplier, etc.) risk management, with prior experience in designing program solutions, risk scoring and aggregation methodologies and designing committee reporting
Understanding of global risk regulatory requirements with emphasis on US (OCC Bulletins, FFIEC, FRB, FDIC) or UK (PRA, FCA)

Nice To Haves

An undergraduate or graduate degree in Accounting, Finance or Risk and/or another appropriate academic major is highly preferred

Responsibilities

Providing strategic thought leadership in designing and operationalizing third party risk management programs
Responsible for designing certain enterprise-wide third party risk management processes and managing through roll out and maturity
Responsible for designing and periodically reviewing program related artifacts, risk methodologies, service categories and associated risk profile, reporting thresholds etc.
Responsible for creating gap analysis to identify all potential risks that require the design of risk-mitigating controls
Accountable for program documentation including development, periodic review, version control and organized storage for various program documents such as Third Party Management Practice Standard, training materials, desk procedures, etc.
Accountable for the creation of operating models
Accountable for developing training materials, conducting firmwide TPM training and overseeing training performance for the program areas they have designed
Monitor regulatory updates that correspond to the assigned area being designed and provide team with guidance on impact of changes in regulatory environment and how to adjust enterprise-wide program to support
Responsible for review and prioritization of user specifications for technology enablement and process automations
Responsible for managing, designing, and enhancing program activities and mature the program including serving as the TPM Program Subject Matter Expert for technology enablement

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.

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