Senior Consultant, Third Party Governance & Oversight - Asset Management at Northern Trust

Dublin, County Dublin, Ireland

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Asset Management, Financial ServicesIndustries

Requirements

Comprehensive experience in a third party risk management and/or oversight role at a global asset manager
Knowledge of service provider requirements supporting Front, Middle and Back Office investment management services, including risk assessments, due diligence, service oversight, and governance of critical third parties
Good knowledge of the UK and EU regulatory environment, in particular the CBI Outsourcing Guidelines (CP138) and other regulations related to third party management and vendor risk management
Experience of dealing with third party fund accountants, custodians, transfer agents and investment managers
Knowledge of operational resilience, business continuity, controls, and exit strategy requirements

Responsibilities

Perform oversight of all third party and intercompany services relevant to the legal entity, including delegates such as Investment Managers and Distributors
Drive, oversee and support all third party lifecycle activities, including risk assessments, due diligence, contracting, and ongoing monitoring, in close collaboration with the business designated vendor managers
Act as a point of escalation for issues and escalate as applicable to the relevant Designated Person, Senior Management, and/or Governance Committees
Partner with the business to drive adoption and adherence to the third party management framework. This involves providing continual guidance and expertise on governance, oversight, and risk mitigation, including through regular formal training sessions
Maintain the register for all third party, fourth party, and intercompany arrangements
Support the implementation of changes to address regulations related to outsourced activities, including CP138, CP140 and DORA
Create and present management information, dashboards, and reports to senior stakeholders and governance forums, including the calculation of concentration risk
Support with business continuity and operational resilience requirements, including controls testing and business continuity plan testing
Develop exit strategies for critical vendors, including leading exit plan and scenario testing workshops
Drive as needed vendor deep dives to ensure the appropriate documentation is in place, to ensure the appropriate operational resiliency strategies are in place, or to improve vendor performance
Review and coordinate reviews of key documentation including contractual agreements, service descriptions, service menus, and policies (utilising knowledge of regulations and conducting gap analyses as appropriate)
Support and lead coordination of due diligence and service review meetings
Work with Procurement and the enterprise Third Party Management Office to assess the appropriate treatment of third parties, inclusive of Non-Traditional Third Parties if necessary