Senior Consultant, Third Party Risk Management

About Northern Trust: Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service. Senior Consultant, Third Party Risk Management - Relationship Management No matter what greater means to you, we can help you find it. We believe in empowering our partners with the resources, support and opportunities to achieve greater and reach their full potential. A strong focus on individual career development and growth is just one way we help you reach your goals. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to strengthening the communities in which we live and work. Work Location can be Tempe, Arizona or Chicago, Illinois Major Duties: The Relationship Manager is accountable for the overall oversight, governance, and strategic alignment of one or more third-party relationships, beyond individual engagements. Oversight and responsibilities of the Relationship Manager include: Serve as the institution's central owner for the third party across all engagements and business units. Maintain a holistic view of the third party's performance, risk posture, and concentration of exposure to the institution (Master Service Agreement (MSA) criteria) and help Rationalize supplier redundancy across the enterprise. Coordinate across Engagement Managers to ensure consistent treatment of the third party in line with enterprise standards and risk appetite. Ensure timely completion of third-party risk assessments, periodic reviews, and issue remediation. Act as the escalation point for significant performance, compliance, or risk issues. Facilitate senior management or committee reporting on the third party, including material issues, concentration risk, exit strategies and enterprise critical responsibilities. Ensure contractual terms, including risk, compliance, and resiliency provisions, are maintained, and enforced with third parties. Drives and supports proactive issue identification, mitigation, reporting and remediation by engaging internal stakeholders and third parties. Lead discussions and coaches assigned engagement managers within the broader business on TPRM program requirements to ensure compliance with regulatory and business requirements. Develops and cultivates strong relationships with assigned vendors and internal stakeholders. Drives and supports implementation of automated controls and reporting to mitigate third party risk. Performs ad-hoc business and operational data analytics to support management decision making, identify insights and make recommendations on a broad range of business initiatives. Knowledge Strong consultative skills ranging from structured problem solving, identifying and gathering relevant data, solution and business case development, influencing and communicating the story. Outstanding communication skills, both written and verbal, with demonstrated ability to develop presentation materials and effectively present to and persuade executive audiences. Strong understanding of 3rd party regulatory requirements and risk treatment exercises. Intellectually curious with the ability to roll up the sleeves to drive change and business outcomes. Strong project management skills with experience leading projects in a highly matrixed agile organization. Advanced analytical and financial modeling skills using Excel, with ability to organize, structure and process moderate to large sets of data efficiently and effectively into meaningful and actionable insights. Data Visualization skills using Tableau, Power BI or equivalent tools is highly desirable. Highly flexible, adaptable to change and comfortable in a dynamic and fast paced work environment. Excellent prioritization skills and comfort dealing with ambiguity. Ability to be flexible with start and end dates as we will work across the Globe. Global outlook with sensitivity and awareness of social and cultural differences Experience An undergraduate degree in Risk or Finance and/or other appropriate academic major or 10 years of experience in Third Party Risk Management at a regulated financial institu