Head of Enterprise Critical Vendor Management

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.

Responsible for establishment of a centralized third party management program (monitoring and risk) for enterprise critical (EC) third parties. In addition, this role will manage enterprise critical vendor managers (ECVM) and apply operational or strategic management skills. Management responsibilities and decisions include hiring, performance reviews, pay decisions and development. Achieves goals mostly through the work of others. Manages professional staff and/or supervisors/ team leads. Accountable for the performance and results of a team within own area of specialty. Adapts departmental plans and priorities to address resource and operational challenges. Decisions and problem solving are guided by policies, procedures, and department plan; receives guidance from manager. Provides guidance to partners, colleagues and/or clients.

MAJOR DUTIES

• Establish framework for managing EC third parties based on existing third party management (TPM) policies, standards, and tools.
• Manage a team of enterprise critical vendor managers (ECVM) located in different regions, including coaching, providing regular performance feedback to employees and responsible for performance evaluation reviews.
• Responsible for prioritizing and overseeing day-to-day team's activities across regions and training staff on requirements and changes to the TPM program and related templates.
• Oversee EC third party monitoring activities globally and perform follow up with assigned region vendor managers to ensure compliance with the TPM program.
• Consult and facilitate meetings with assigned region (Business Unit) vendor managers to leverage Northern's scale and achieve negotiated value from third party contract.
• Resolve global/regional escalated issues and monitor timely resolution of issues by BU vendor managers.
• Assess and monitor all EC BU (Vendor Manager) activities, and report to BU Senior Management and other NT internal groups on issues and risks.
• Use judgment to identify, troubleshoot and resolve day-to-day technical and operational problems.
• Develop and maintain strong working relationships with key stakeholders internally and externally.
• Organize and conduct EC Business Reviews to include the reporting and tracking of KPIs/SLAs.
• Maintain a close working relationship with EC third parties to help reduce risk and drive performance management discussions to ensure that any issues are surfaced and can be mitigated before they become a problem.
• Ensure continuous collaboration with EC Third Party vendors to assess any ongoing risks to NT operations and/or supply/ system outages and make alternative plans in a timely fashion if required.
• Ensure adherence with internal standards and external regulations to mitigate risk.
• Develop escalation processes for dispute resolution and incident reporting for EC third parties.
• Participate in teams to develop and execute strategies that increase savings, efficiency and where opportunities to gain productivity.
• Stay informed and identify trends in the vendor management/ risk oversight space.

KNOWLEDGE/SKILLS

• Strong analytical, communication, interpersonal and leadership skills to be impactful.
• Good business acumen with proven ability to interact with all levels of the organization.
• Highly flexible and adaptable to change.
• Leadership and organizational skills are required to direct activities.
• Project Management skills.
• Applies understanding of the business and how own area integrates with others to achieve departmental objectives.
• Guides and influences others either internally or externally to adopt a different point of view.
• Applies understanding of the business and how own area integrates with others to achieve departmental objectives.
• Guides and influences others either internally or externally to adopt a different point of view.

EXPERIENCE

• Prior experience managing teams.
• An undergraduate or graduate degree in Finance or Risk and/or another appropriate academic major is highly preferred.
• Demonstrated hands-on experience working with vendors/clients in other large financial institutions in a Risk/ Vendor Management practice.
• 8+ years of experience as a Senior Consultant/ Manager with a public accounting firm, or business/industry experience to meet special needs of vendor manager/ 3rd party oversight.

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 andapply 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 [email protected].

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.