Senior Legal Counsel (Technology and Procurement)

About the role

Northern Trust, a Fortune 500 company founded in 1889, is a globally recognized financial institution known for its commitment to excellence and integrity. The company serves sophisticated clients worldwide through innovative financial services and guidance.

Key Responsibilities

• Support the Procurement and Technology legal team's efforts to accelerate Northern Trust's responsible adoption of AI consistent with legal and regulatory requirements and client and supervisory expectations.
• Advise business units, technology engineers, product development teams, and business unit legal teams in the development, negotiation, and support of vended AI tools, client-facing contracts involving technology products and concepts (e.g., SaaS; software licenses; data licenses; distributed ledger technology; federated single sign on).
• Develop and update template contracts, playbooks, terms of use, and other terms and conditions related to technology initiatives and products (e.g., Northern Trust web portals and platforms, APIs, other software) for use by business units across the enterprise.
• Collaborate with and provide legal support to other cross-functional teams and SMEs (e.g., Data Privacy, Information Security, Risk, Compliance, Tax), including in other jurisdictions, as needed.
• Advises and contributes to committees and working groups (e.g., IT Risk; Cloud governance; AI) focused on new technology initiatives at the bank.
• Advise and lead negotiations around strategic transactions including complex license agreements, reseller agreements, and other corporate development arrangements.
• Provide legal support for technology-related corporate initiatives as requested and support other Legal Department team members.
• Advise on legal and regulatory developments that impact Northern Trust's procurement organization and technology initiatives and adapt template contracts and playbooks as needed.

Skills/Qualifications

• Must possess a J.D. degree from an accredited law school and meet attorney licensing requirements in the jurisdiction in which the position will be located, prior to and after commencing employment.
• Minimum combined ten (10) years of experience at a nationally recognized law firm and/or in-house legal department advising clients in relevant areas.
• In-depth experience with the legal and regulatory aspects that can impact contract requirements, including familiarity with the impacts of placing data in the cloud. Financial Industry regulations preferred (e.g., FRB SR23-4, PRA SS2/21, GDPR, CCPA, DORA, EU AI Act).
• Experience working for a regulated industry, financial industry preferred.
• Ability to work cooperatively with all levels of the organization and provide legal advice and counsel on a wide range of technology-related matters.
• Excellent oral and written communication skills.
• Ability to manage relationships with business partners, clients, and outside counsel.
• Current knowledge of applicable existing and upcoming regulations impacting the banking industry highly desired.

Pay

$160,100 - 272,300 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.

Schedule

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.