Northern Trust

Strategic Sourcing Specialist - Technology

Northern Trust • $114K — $194K *
Chicago, IL 60629In-Person
Enterprise Technology
8 - 10 years of experience
2 weeks ago
Job Overview by Ladders

Qualifications

  • 10+ years in technology sourcing, emphasizing security/risk contracting or channel economics.
  • Master's degree preferred; advanced negotiation or conflict management is a plus.
  • Strong history of building governance models and executing complex negotiations.
  • Established credibility with CISO, Risk, and Compliance leaders.
  • Expertise in vendor management and commercial strategy development.

Responsibilities

  • Develop and maintain a multi-vendor security strategy aligned with enterprise risk objectives.
  • Lead vendor rationalization approaches to mitigate unmanaged risks and surprise renewals.
  • Oversee channel and reseller economic strategies to enhance margin transparency and prevent leakage.
  • Create guardrails and playbooks to manage investment and purchasing efficacy across channels.
  • Support complex negotiations and resolve escalations related to security terms and compliance requirements.
  • Track value realization for security vendors and present insights to leadership.

Benefits

  • Comprehensive health benefits including medical, dental, and vision coverage.
  • Retirement benefits including 401k matching and pension plans.
  • Paid time off, including parental and caregiver leave.
  • Life and accident insurance, along with other voluntary benefits.
  • Discretionary bonus programs that may include equity components.
Full Job Description
Major Duties & Responsibilities

1) Cross-Vendor Security & Risk Commercial Strategy (Primary Ownership)
  • Build and maintain the multi-vendor strategy across identity/security controls, risk tooling, and protective service layers, aligned to enterprise risk posture and resiliency goals.
  • Drive vendor rationalization/substitution strategies and contract runway planning to avoid surprise renewals and unmanaged risk exposure.
  • Lead commercial design for security tooling where value is measured by adoption, coverage, and risk reduction outcomes (not shelfware).

2) Channel & Reseller Governance / Margin Transparency (Primary Ownership)
  • Own strategy and controls for reseller/channel economics: discount governance, rebate programs, pass-through requirements, fee structures, and price protection.
  • Establish playbooks and guardrails that prevent margin leakage, duplicative purchases, and fragmented sourcing across channels.
  • Drive demand management opportunities (standardization, preferred channel routing, catalog discipline) in partnership with Procurement Ops.

3) Complex Negotiations & Escalation Path (Shared Ownership; Complexity Lead)
  • Support Category Managers on renewals/RFx and step in as escalation for impasses or highly complex negotiations (security terms, audit rights, incident-related clauses, regulatory addenda, channel price disputes).
  • Ensure negotiation posture and outcomes align to enterprise standards for security, privacy, resiliency, and regulatory requirements.

4) Value Tracking, Controls, and Risk-Focused Governance (Primary Ownership Within Scope)
  • Develop scorecards and value realization frameworks for security and optimization vendors (license utilization, coverage metrics, outcome validation, unit-cost curves).
  • Establish periodic strategic reviews with Security/Risk leadership and IT Finance to confirm roadmap alignment and quantify delivered value.
  • Ensure sourcing decisions reinforce a sustainable risk culture and reduce operational/compliance surprises.


What This Role Does Not Own (By Design)
  • Day-to-day vendor operational governance/QBR ownership and performance management (Vendor Management lane), though this role participates to enforce commercial controls and drive value realization.
  • Routine purchasing admin, PO/invoice troubleshooting, or CLM data hygiene (Procurement Ops lane).
  • Owning all RFx execution end-to-end (Category Manager lane), except when a sourcing event is strategically critical or stalled.


Preferred Knowledge & Specialized Expertise (Not Required)

Security + Risk Commercial Acumen (Role-Specific)
  • Security contracting patterns: audit rights, breach notification, SLAs for protective services, cyber indemnity constructs (in partnership with Legal/Risk)
  • Understanding of identity/security architectures at a conceptual level (IAM, WAF/CDN, posture mgmt, monitoring/telemetry) to align commercials to real usage and coverage

Channel / Reseller Economics (Role-Specific)
  • Discount structures, rebates, MDF-like programs, services attach, margin controls, price protection, and governance models for large resellers/telecom/optimization providers

Optimization / Value-Realization Mindset
  • Strong orientation to utilization, leakage reduction, and measurable outcomes; ability to build executive-ready value narratives


Experience & Qualifications
  • 10+ years in technology sourcing with demonstrated strength in security/risk contracting and/or channel economics (resellers/telecom/optimization platforms)
  • Master's preferred; advanced negotiation or conflict management specialization a plus
  • Proven track record of building governance models, leading difficult negotiations, and operating credibly with CISO/Risk/Compliance leaders


Key Deliverables / Success Measures

Deliverables
  • Portfolio commercial strategy and governance playbooks; channel economics controls; executive decision papers; value tracking scorecards; benchmark insights

Measures of Success
  • Reduced risk exposure via stronger contract posture; improved margin transparency; decreased value leakage; measurable savings and verified adoption/utilization outcomes


Salary Range:
$114,700 - 194,900 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.

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 Enterprise Technology Jobs

Find similar Strategic Sourcing Specialist - Technology jobs:

NationwideChicago, IL