Senior Consultant - Third Party Risk Management

Third Party Risk Senior Consultant

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.

Role

The Third-Party Risk Sr. Consultant is responsible for monitoring compliance with various risk programs, including, but not limited to, Intercompany Agreements, Non-Traditional Third-Party and other third-party lifecycle programs. Detects and advises management of potential risk issues and recommends procedural changes to mitigate risk while working independently with minimal guidance to solve complex problems and take new perspectives on existing solutions. This role requires in-depth conceptual and practical knowledge of third-party risk and a basic understanding of related disciplines such as procurement, audit, legal and regulatory compliance.

You may be asked to lead small projects or specific project steps and take accountability for ongoing risk initiatives. You will research and develop solutions to departmental issues, interpret and clarify policies and procedures, and respond to inquiries. Additionally, you may recommend or implement operational efficiencies and deliver presentations to help the broader risk management team understand root causes of control gaps, industry trends, and peer practices.

Responsibilities

• Oversight of the 1st Line of Defense adherence to the Third-Party Risk policy and standard.
• Provide 2LOD effective challenge and oversight to program requirements and align to defined Risk Taxonomies.
• Provide objective oversight of risks through quality control using defined methodologies and subject matter expertise.
• Review, disseminate, and interpret policies and procedures, and proactively establish and document related policies, procedures and standards within the parameters of any relevant laws and regulations.
• Verify that activities meet regulatory requirements and monitor outcomes/risk levels for the organization or assigned area.
• Consult with partners regarding daily decisions that could pose risk and conflict with existing policy.
• Communicate and provide advice to managers and appropriate personnel.
• Identify situations which pose significant risk and guide management in developing policies and/or procedures that balance risk and reward, exercising judgment based on analysis of multiple sources of information.
• Interact with regulators, internal and external auditors on regulatory topics as needed.
• Provide direction and training to more junior staff.
• Serve internal and external groups to provide and receive advice on industry trends.
• Communicate with management, leading efforts to discuss the business/risk environment, and identify issues/risks.
• Research applicable subject areas to support increased team and department knowledge.
• Apply best practices and understand how Third-Party Risk integrates with other functions (IT, Operations, Legal, Procurement); maintain awareness of the competitive landscape and the factors that differentiate our firm’s risk program from others.
• Lead the coordination of a limited scope project or initiative, balancing manageable risk and resource requirements while mentoring more junior colleagues.
• Your activities will impact a range of customers, operational, project, and service outcomes within your own team and in adjacent teams. You will operate within broad guidelines and be empowered to recommend refinements.
• When communicating with difficult or sensitive information, explain it clearly and work to build consensus among stakeholders.

Knowledge, Skills, and Experience

• 24 months as Consultant
• In-depth conceptual and practical knowledge of third-party risk management and a basic understanding of related disciplines such as procurement, audit, legal and regulatory compliance.
• Knowledge of risk management and strategic goals for the organization’s business.
• Knowledge of 3rd party risk management regulations and practices within the financial services industry.
• Familiarity with industry best practices and an awareness of the competitive landscape – what differentiates our approach from others.
• Strong communication and analytical skills necessary to consult with partners/clients, analyze information, and develop compliant policies and procedures.
• Ability to exercise judgment based on analysis from multiple sources, to solve complex problems and present solutions.
• Ability to work in a fast-paced environment as part of a Global Non-Financial Risk team across multiple time zones and jurisdictions.
• Bachelor’s degree or qualification in relevant audit, risk management, regulatory, or compliance areas.
• 9 to 12 years of risk management experience; third party risk management preferred but not required.

Leadership / Additional Attributes

• Acts as a resource for colleagues with less experience, both formally (training, mentoring) and informally.
• Experience leading or coordinating small projects or workstreams, with manageable risks and resources.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.

We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.

About Our Pune Office

The Northern Trust Pune office, established in 2016, is now home to over 3,000 employees. The office handles various functions, including Operations for Asset Servicing and Wealth Management, as well as delivering critical technology solutions that support business operations across the globe.

Our Pune team takes our commitment to service to heart. In 2024, they volunteered more than 10,000+ hours into the communities where they live and work. Learn more.

Experience Level

Senior Level