Senior Consultant, Due Diligence - Third Party Risk Management

About Northern Trust

Northern Trust (Nasdaq: NTRS) is a global leader in innovative wealth management, asset servicing, asset management, and banking services. Founded in 1889, the company is known for its commitment to integrity and excellence, guiding the world’s most successful individuals, families, corporations, and institutions.

Third Party Program Execution / Program Management

The Chief Procurement Officer’s team for Third Party Management (TPMO) is responsible for the design and execution of the Third Party risk management program, aligning with regulatory expectations and the Third Party Risk Management Policy. The TPMO is the first line of defense for third party risk, and the role involves strategy and design decisions, process improvements, and program execution.

• Track program throughput through planning, IRQs, DDQs, ongoing monitoring, contracting, and termination phases.
• Periodically review inventory, open issues, and risk acceptance reviews.
• Design and periodically review program-related artifacts, risk methodologies, service categories, and associated risk profiles.
• Afford assistance and guidance to business partners throughout the third-party lifecycle to ensure quality program execution.
• Identify gaps and drive continuous improvement across the TPRM lifecycle.
• Engage with risk domain SMEs, vendors, and vendor relationship managers.
• Provide program performance updates, risk issue escalations, and regulatory reviews.
• Participate in cross-functional teams for Third Party program requirements.

Knowledge/Skills

• Proven track record in managing vendor risk and leading large-scale risk or compliance initiatives.
• Expertise in third-party risk frameworks and regulatory requirements.
• Experience with tools such as Coupa, Service Now, Cybeta, Interos, or similar.
• Strong organizational skills.
• Ability to influence activities across multiple teams and business units.
• Outstanding writing, communication, and presentation skills.
• Sound analytical and problem-solving skills.
• Strong networking ability to build internal and external networks based on integrity and credibility.
• Bachelor's degree and approximately 10 years of related work experience with a clear understanding of and experience in the Three Lines of Defense model.
• Thorough understanding of third-party risk management, including designing program solutions, risk scoring, and aggregation methodologies.
• Understanding of global risk regulatory requirements, with emphasis on US (OCC Bulletins, FFIEC, FRB, FDIC) or UK (PRA, FCA).
• TPRM-related certifications such as CTPRP or CTPRA.