Third Party Management 4th Party Specialist

Company: Northern Trust Corp
Location: Chicago
Posted on: November 12, 2024

Job Description:

Third Party Management 4th Party Specialist
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.
Key Responsibilities:

• Responsible for assisting with designing certain enterprise-wide third party risk management 4th & Nth Party processes and managing through sustainability and maturity.
  
• Responsible for designing and periodically reviewing program related artifacts, risk methodologies, service categories and associated risk profile, reporting thresholds etc.
  
• Generation and enhancements of program documentation including development, periodic review, version control and organized storage for various program documents such as Third Party Management Practice Standard, training materials, desk procedures, etc.
  
• Monitor regulatory updates that correspond to the assigned area being designed and provide team with guidance on impact of changes in regulatory environment and how to adjust enterprise-wide program to support.
  
• Responsible for managing, designing, and enhancing program activities and mature the program including serving as the TPM Program Subject Matter Expert for technology enablement.
  
  Success candidates will benefit from having:
  
  
• Excellent verbal and written communication skills.
  
• Functional/Industry knowledge is required.
  
• Knowledge of 4th & Nth Party third-party risk framework controls.
  
• Analytical and communication skills are required to analyze information and disseminate information.
  
• Leadership and organizational skills to direct the activities for the multiple business units.
  
• Ability to foster positive and proactive approach to process assessment and improvement and to identify trends and improve processes for both the customer and the business.
  
• Strong organization, attention to detail, time management, planning skills and the ability to handle multiple competing priorities.
  
• Strong organizational skills, a collaborative approach to work, with strong interpersonal skills.
  
• Demonstrates strong analytical skills with the ability to generate complex reports.
  
• Highly flexible and adaptable to change in a high demand environment.
  
• Proficiency in Microsoft Word, Excel, PowerPoint as well as data analytic tools including PowerBI.
  
  Qualifications:
  
  
• Bachelor's degree and approximately 5-10 years of related work experience with clear understanding of and experience in financial services / internal audit / risk consulting preferred.
  
• An undergraduate or graduate degree in Accounting, Finance or Risk and/or another appropriate academic major is highly preferred.
  
• A thorough understanding of third-party (i.e., vendor, supplier, etc.) risk management, with prior experience in designing program solutions, risk scoring and aggregation methodologies and designing committee reporting.
  
• Understanding of global risk regulatory requirements with emphasis on US (OCC Bulletins, FFIEC, FRB, FDIC) or UK (PRA, FCA).
  
  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 MyHRHelp@ntrs.com.
  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.
  #J-18808-Ljbffr

Keywords: Northern Trust Corp, Joliet , Third Party Management 4th Party Specialist, Executive , Chicago, Illinois