Strategic Sourcing Specialist, Technology

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. Major Duties & Responsibilities1) Cross-Vendor Security & Risk Commercial Strategy (Primary Ownership)Build and maintain the multi-vendor strategy across identity/security controls, risk tooling, and protective service layers, aligned to enterprise risk posture and resiliency goals.Drive vendor rationalization/substitution strategies and contract runway planning to avoid surprise renewals and unmanaged risk exposure.Lead commercial design for security tooling where value is measured by adoption, coverage, and risk reduction outcomes (not shelfware).2) Channel & Reseller Governance / Margin Transparency (Primary Ownership)Own strategy and controls for reseller/channel economics: discount governance, rebate programs, pass-through requirements, fee structures, and price protection.Establish playbooks and guardrails that prevent margin leakage, duplicative purchases, and fragmented sourcing across channels.Drive demand management opportunities (standardization, preferred channel routing, catalog discipline) in partnership with Procurement Ops.3) Complex Negotiations & Escalation Path (Shared Ownership; Complexity Lead)Support Category Managers on renewals/RFx and step in as escalation for impasses or highly complex negotiations (security terms, audit rights, incident-related clauses, regulatory addenda, channel price disputes).Ensure negotiation posture and outcomes align to enterprise standards for security, privacy, resiliency, and regulatory requirements.4) Value Tracking, Controls, and Risk-Focused Governance (Primary Ownership Within Scope)Develop scorecards and value realization frameworks for security and optimization vendors (license utilization, coverage metrics, outcome validation, unit-cost curves).Establish periodic strategic reviews with Security/Risk leadership and IT Finance to confirm roadmap alignment and quantify delivered value.Ensure sourcing decisions reinforce a sustainable risk culture and reduce operational/compliance surprises.What This Role Does Not Own (By Design)Day-to-day vendor operational governance/QBR ownership and performance management (Vendor Management lane), though this role participates to enforce commercial controls and drive value realization.Routine purchasing admin, PO/invoice troubleshooting, or CLM data hygiene (Procurement Ops lane).Owning all RFx execution end-to-end (Category Manager lane), except when a sourcing event is strategically critical or stalled.Preferred Knowledge & Specialized Expertise (Not Required)Security + Risk Commercial Acumen (Role-Specific)Security contracting patterns: audit rights, breach notification, SLAs for protective services, cyber indemnity constructs (in partnership with Legal/Risk)Understanding of identity/security architectures at a conceptual level (IAM, WAF/CDN, posture mgmt, monitoring/telemetry) to align commercials to real usage and coverageChannel / Reseller Economics (Role-Specific)Discount structures, rebates, MDF-like programs, services attach, margin controls, price protection, and governance models for large resellers/telecom/optimization providersOptimization / Value-Realization MindsetStrong orientation to utilization, leakage reduction, and measurable outcomes; ability to build executive-ready value narrativesExperience & Qualifications10+ years in technology sourcing with demonstrated strength in security/risk contracting and/or channel economics (resellers/telecom/optimization platforms)Master’s preferred; advanced negotiation or conflict management specialization a plusProven track record of building governance models, leading difficult negotiations, and operating credibly with CISO/Risk/Compliance leadersKey Deliverables / Success MeasuresDeliverablesPortfolio commercial strategy and governance playbooks; channel economics controls; executive decision papers; value tracking scorecards; benchmark insightsMeasures of SuccessReduced risk exposure via stronger contract posture; improved margin transparency; decreased value leakage; measurable savings and verified adoption/utilization outcomesSalary Range:$114,700 - 194,900 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: Chicago, ILType: Full time