Senior Consultant, Non-Traditional Third Parties - Third Party Risk Management

About Northern TrustAs a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service. Associate Specialist – Non-Traditional Third-Party Management & SourcingPosition SummaryThe Senior Associate, Non-Traditional Third-Party Management & Sourcing, serves as a hybrid resource between Procurement and the Third-Party Management Office (TPMO). This role supports atypical and non-traditional third-party (NTTP) engagements throughout the relationship lifecycle, providing expertise in sourcing, contracting, governance, and third-party risk management requirements. The position partners with business stakeholders, Legal, Procurement, and TPMO to ensure engagements are established and managed in accordance with Northern Trust policies, standards, and regulatory expectations.Key ResponsibilitiesSupport NTTP engagements from onboarding through renewal or termination.Lead and coordinate complex or non-standard contracting activities with Procurement, Legal, TPMO, and business stakeholders.Facilitate unique contract requirements and ensure alignment with Northern Trust policies and third-party management standards.Provide guidance on sourcing, contracting, due diligence, and ongoing monitoring requirements for NTTP categories.Review contracts and engagement structures periodically to ensure continued compliance with governance, risk, and regulatory expectations.Partner with business units that execute third-party risk management activities under TPMO oversight.Identify process gaps, contract risks, and compliance issues, and drive remediation with stakeholders.Serve as a key liaison between Procurement, TPMO, Legal, Risk SMEs, and the businessQualificationsExperience in Procurement, Strategic Sourcing, Third-Party Risk Management, Vendor Management, or Contract Management.Understanding of contracting processes and third-party lifecycle requirements.Strong stakeholder management, problem-solving, and communication skills.Ability to navigate complex business arrangements and regulatory requirements in a financial services environment.Success ProfileThe ideal candidate combines procurement and contracting expertise with third-party risk management knowledge, enabling effective oversight of non-traditional third-party relationships and ensuring compliance throughout the engagement lifecycle.Salary Range:$90,820 - 154,280 USDSalary 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.Work AuthorizationApplicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa). Working with UsAs a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities. Reasonable Accommodation Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at View email address on click.appcast.io, or alternatively you can discuss your individual requirements with the recruiter you are working with. SummaryLocation: Tempe, AZ; Chicago, ILType: Full time