Northern Trust

Senior Consultant, Third Party Risk Management

Northern Trust • $95K — $162K *
Tempe, AZ 85281In-Person
Finance & Insurance
8 - 10 years of experience
Today
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • Undergraduate degree in Risk or Finance or 10 years of experience in Third Party Risk Management.
  • Hands-on experience with vendors/clients in large financial institutions.
  • 10 years of experience as a Third Party Relationship Manager for complex service providers.
  • Strong understanding of 3rd party regulatory requirements and risk treatment exercises.
  • Proficiency in data visualization tools like Tableau or Power BI.

Responsibilities

  • Serve as the institution's central owner for third-party engagements across business units.
  • Maintain oversight of third-party performance, risk posture, and exposure to the institution.
  • Cultivate relationships with vendors and internal stakeholders to facilitate collaboration.
  • Ensure compliance with contractual terms and risk management provisions with third parties.
  • Conduct timely risk assessments and address issues promptly with a proactive approach.
  • Report on third-party performance to senior management, highlighting key issues and risks.
  • Utilize dashboards and key risk indicators to monitor third-party risk and performance.

Benefits

  • Comprehensive retirement benefits including 401k and pension.
  • Health and welfare benefits including medical, dental, and vision.
  • Paid time off, parental and caregiver leave.
  • Life and accident insurance options available.
  • Discretionary bonus program potentially including equity.
Full Job Description
Major Duties
  • 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.


Skills/Knowledge:
  • 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.


Experience:
  • 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.


Salary Range:
$95,600 - 162,400 USD

Salary range is a good faith estimate of base pay. 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.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

About Northern Trust

Northern Trust is a global leader in delivering innovative investment management, asset and fund administration, and fiduciary and banking solutions to corporations, institutions, and affluent individuals. They have evolved with the changing needs of their clients and their world.

Northern Trust Careers

Joining Northern Trust means becoming part of a global financial services institution that is dedicated to providing expert guidance and innovative solutions to its clients. At Northern Trust, we pride ourselves on fostering a culture of leadership, diversity, and innovation, which makes us a premier destination for career growth in the financial industry.

Work You’ll Do

At Northern Trust, you will collaborate with some of the most talented professionals in the financial sector. Our team is committed to excellence and equipped with a diverse range of skills that contribute to our dynamic environment. Here, you will have the opportunity to lead projects that transform our services and drive significant value for our clients across the globe.

Explore Job Opportunities and Internships

Whether you are starting your career or looking to make a significant impact in the financial industry, Northern Trust offers a variety of job opportunities and internships that will help you achieve your professional goals. From entry-level positions to leadership roles, our company is actively hiring individuals who are passionate, curious, and driven to excel.

Innovative Work

Northern Trust is at the forefront of financial innovation. Our employees are encouraged to think creatively and leverage cutting-edge technologies to solve complex problems. By joining our team, you will work on pioneering solutions that redefine the standards of financial services.

Be Part of a Great Team

Our team at Northern Trust is more than just a group of employees – we are a community. We value collaboration, and our culture is built on mutual respect and a commitment to diversity and inclusion. Working with us, you will experience a supportive network that is passionate about sharing knowledge and ideas.

Future-Proof Your Career

Northern Trust is dedicated to your professional development. We offer comprehensive benefits, diversity training, and numerous resources to help you grow your career. With our support, you can expand your skills, gain valuable experience, and achieve professional certifications that will enhance your career trajectory.

Stay Connected

Join Our Team

Discover the perfect role for you at Northern Trust by exploring our current job openings that match your skills and interests. We are looking for professionals who are solution-driven and eager to contribute to our legacy of financial excellence.

Keep Up to Date

Stay informed with the latest career tips, industry insights, and professional growth opportunities—all available through our careers blog. At Northern Trust, we ensure that our team members are always ahead in the industry.

Job Alert Emails

Customize your experience by subscribing to job alerts and insider tips tailored to your preferences. At Northern Trust, exciting and rewarding opportunities are always on the horizon, and we are eager to see where your talents can take us. Join Northern Trust today and be part of a company that values innovation, leadership, and a diverse and inclusive workplace. Here, every position is a chance to contribute to something bigger and to turn your job into a meaningful career.
Learn more about Northern Trust
Size
21,100 employees
Market Cap
$18.1 billion
Industry
Finance & Insurance
Net Income
$1.2 billion
Founded
1889
5 Year Trend
+4.9%
Revenue
$6.1 billion
NASDAQ
NTRS
* Ladders Estimates

Similar Jobs

Ad banner background

Get Ready For Your
Next Interview

More Jobs at Northern Trust

More Finance & Insurance Jobs

Find similar Senior Consultant, Third Party Risk Management jobs:

NationwideTempe, AZ