Specialist, Third Party Management Office Risk Governance

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. Manage TPMO participation in applicable Corporate Risk Management processes, including risk and control assessments, issue management, operational risk events, control governance, and related risk activities.Coordinate the implementation of Corporate Risk Management requirements within TPM processes, documentation, responsibilities, and reporting routines.Maintain the TPMO calendar of required risk activities, assessments, governance reviews, reporting, and deliverables.Coordinate inputs from TPMO process owners and subject matter experts to support timely and accurate completion of risk management obligations.Maintain a consolidated view of TPMO risks, controls, issues, action plans, operational risk events, and related governance commitments.Incorporate Corporate Risk Management information into established TPMO reporting, including key themes, emerging risks, overdue activities, and matters requiring leadership attention.Facilitate TPMO risk governance routines, including preparation of materials, documentation of decisions, assignment of actions, and monitoring of commitments.Support the identification, documentation, escalation, and reporting of risks, issues, control gaps, and operational risk events in accordance with enterprise requirements.Maintain governance documentation and supporting evidence to demonstrate completion of TPMO’s Corporate Risk Management responsibilities.Identify dependencies, recurring themes, and reporting gaps across TPMO risk activities and escalate them through established governance channels.Provide guidance to TPMO partners regarding Corporate Risk Management processes, documentation expectations, required timelines, and reporting obligations.Support enhancements to TPMO governance procedures, reporting processes, roles, and supporting documentation.Assist TPMO leadership with governance materials and risk information for management discussions and applicable forums.Leads in the Third-Party Risk governance framework in the 1st Line of Defence, with oversight and reporting to enterprise leadership on related risk and control profile, issues / incidents and any relevant emerging risksWorks with Vendor Managers to ensure that Third Party Risk policies and guidelines are adhered to, and provide actionable support and guidance to the BusinessEscalates any concerning trends to Senior Management. This may include (but not limited to) oversight and monitoring of emerging risks, weaknesses in controls and material change programs, deterioration in service / performance standards, and provide guidance on mitigating actionsAssists in review of internal and external Third-Party Risk related events and issues, to ensure that the root cause is adequately identified and remediation actions are fit for purposeWorks to ensure appropriate oversight / governance of intra-group arrangements is in place, and changes to business models are accurately reflected in applicable group documentation. This may include liaising (as needed) with Legal Entity Outsourcing ManagersAssists in the support of local regulatory and audit engagements pertaining to Third Party Risk; this includes supporting remediation activitiesSupports Third Party Risk awareness and risk management culture in order to ensure that the material risks are both evident and effectively managedExercises judgment based on the analysis of multiple sources of informationAble to lead cross functional or complex projects with manageable risks and resource requirementsActs as a subject matter expert for all team members, substitutes for manager when requiredKnowledge:Bachelor’s degree in Business, Finance, Risk Management, or a related field.Approximately 7+ years of relevant experience in Corporate Risk Management, Enterprise Risk Management, Operational Risk, risk governance, internal controls, audit, compliance, or a related discipline.Practical experience applying Corporate Risk Management requirements within a first-line business function or in partnership with first-line teams.Experience coordinating risk governance processes such as risk and control assessments, issue management, operational risk events, control inventories, risk reporting, or audit activities.Strong understanding of enterprise risk frameworks, control environments, issue management, and governance requirements.Ability to translate risk management requirements into practical processes, documentation, defined responsibilities, and reporting.Experience preparing risk and governance information for leadership or governance forums.Proven ability to coordinate complex deliverables across multiple stakeholders without direct authority.Strong analytical and organizational skills, with the ability to connect information across risks, controls, issues, audit matters, and operational activities.Strong written and verbal communication skills, including the ability to present complex risk information clearly and concisely.Ability to exercise independent judgment while operating within an established functional framework and escalation structure.Strong understanding of Third-Party Risk management principles, including experience with policy development, control definition, and application of controls in the businessStrong knowledge of Third-Party Risk control environmentStrong knowledge of corporate risk policies and standardsStrong working knowledge of technologies relevant to responsibilitiesStrong analytical skills including the use of relevant Tools such as Power BIStrong collaboration and communication skillsAbility to drive to executionApplies knowledge of key business drivers and the factors that maximize department performanceExperience:Experience within Third-Party Risk Management, Procurement, financial services, or another regulated environment.Experience working within, or closely with, a Corporate Risk Management or Operational Risk Management function.Knowledge of first-line responsibilities within enterprise risk management frameworks.Familiarity with financial services regulatory expectations.Experience with governance, risk, and compliance platforms or enterprise risk systems.Professional certification such as CRMA, CIA, CISA, CRCM, FRM, or an equivalent risk-related credential is preferred.A College or University degree and/or relevant proven work experience is required5-7 years of related experience in roles working in Third Party risk related topicsSalary 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, IL; Tempe, AZType: Full time