Senior Consultant - Third Party Risk Management - Program Design at Northern Trust

Chicago, Illinois, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, BankingIndustries

Requirements

Strong understanding of Third-Party Risk management principles, including experience with policy development, control definition, and application of controls in the business
Strong knowledge of Third-Party Risk control environment
Strong knowledge of corporate risk policies and standards
Strong working knowledge of technologies relevant to responsibilities
Strong analytical skills including the use of relevant Tools such as Power BI
Strong collaboration and communication skills
Ability to drive to execution
Applies knowledge of key business drivers and the factors that maximize department performance
A College or University degree and/or relevant proven work experience is required
5-7 years of related experience in roles working in Third Party risk related topics

Responsibilities

Involved in the Third-Party Risk governance framework in the 1st Line of Defense, with oversight and reporting to enterprise leadership on related risk and control profile, issues / incidents and any relevant emerging risks
Works with Vendor Managers to ensure that Third Party Risk policies and guidelines are adhered to, and provide actionable support and guidance to the Business
Escalates any concerning trends to Senior Management, including oversight and monitoring of emerging risks, weaknesses in controls and material change programs, deterioration in service / performance standards, and provide guidance on mitigating actions
Assists 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 purpose
Works to ensure appropriate oversight / governance of intra-group arrangements is in place, and changes to business models are accurately reflected in applicable group documentation, including liaising (as needed) with Legal Entity Outsourcing Managers
Assists in the support of local regulatory and audit engagements pertaining to Third Party Risk, including supporting remediation activities
Supports Third Party Risk awareness and risk management culture in order to ensure that the material risks are both evident and effectively managed
Exercises judgment based on the analysis of multiple sources of information
May lead small to medium size projects with manageable risks and resource requirements
Acts as a resource for colleagues with less experience