Senior Consultant, Third Party Governance

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. Role: This is a first line role at Vice President level, offering an opportunity for an individual with third party risk management experience to join the Third Party Oversight team as a Legal Entity Outsourcing Manager. The successful candidate will be a self-starter with high attention to detail, and will be involved in driving forward the oversight model to ensure compliance with the third party management framework and regulatory requirements, utilising strong communication, relationship building, analytical, and teamwork skills to do so. Key Responsibilities: Perform oversight of all third party and intercompany services relevant to the legal entity, including delegates such as Investment Managers and Distributors. Drive, oversee and support all third party lifecycle activities, including risk assessments, due diligence, contracting, and ongoing monitoring, in close collaboration with the business designated vendor managers. Act as a point of escalation for issues and escalate as applicable to the relevant Designated Person, Senior Management, and/or Governance Committees. Partner with the business to drive adoption and adherence to the third party management framework. This involves providing continual guidance and expertise on governance, oversight, and risk mitigation, including through regular formal training sessions. Maintain the register for all third party, fourth party, and intercompany arrangements. Support the implementation of changes to address regulations related to outsourced activities, including CP138, CP140 and DORA. Create and present management information, dashboards, and reports to senior stakeholders and governance forums, including the calculation of concentration risk. Support with business continuity and operational resilience requirements, including controls testing and business continuity plan testing. Develop exit strategies for critical vendors, including leading exit plan and scenario testing workshops. Drive as needed vendor deep dives to ensure the appropriate documentation is in place, to ensure the appropriate operational resiliency strategies are in place, or to improve vendor performance. Review and coordinate reviews of key documentation including contractual agreements, service descriptions, service menus, and policies (utilising knowledge of regulations and conducting gap analyses as appropriate). Support and lead coordination of due diligence and service review meetings. Work with Procurement and the enterprise Third Party Management Office to assess the appropriate treatment of third parties, inclusive of Non-Traditional Third Parties if necessary. Skills / Experience: Comprehensive experience in a third party risk management and/or oversight role at a global asset manager. Knowledge of service provider requirements supporting Front, Middle and Back Office investment management services, including risk assessments, due diligence, service oversight, and governance of critical third parties. Good knowledge of the UK and EU regulatory environment, in particular the CBI Outsourcing Guidelines (CP138) and other regulations related to third party management and vendor risk management. Experience of dealing with third party fund accountants, custodians, transfer agents and investment managers. Knowledge of operational resilience, business continuity, controls, and exit strategy requirements. Valuable Competencies: Team player with superior relationship building skills, with the ability to quickly gain trust and manage stakeholders effectively both internally and externally with third parties. Ability to work independently, proactively and on own initiative, as well as supporting other team members as required. Highly organised with strong attention to detail. Good IT skills including Excel and PowerPoint, and ability to manage data for analysis, documentation, and reporting purposes. Strong written and verbal communication skills, and presentation skills, particularly to senior executives. Ability to multitask, quickly assess issues, propose solutions and convey complex information in a simple way in a fast paced environment across a wide range of stakeholders. Working with Us: As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve Join a workplace with a greater purpose. We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies Build your career with us and apply today. #MadeForGreater Reasonable accommodation Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at . We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people. Apply today and talk to us about your flexible working requirements and together we can achieve greater.