Third Party Management Process Design & Execution Lead

$95,600 - $162,400/Yr

Northern Trust - Tempe, AZ

Full-time - Mid Level

Tempe, AZ

10,001+ employees

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The successful candidate will be responsible for leading operational support of the Third-Party Management Office (TPMO) within the First Line of Defense to design, build and oversee various areas throughout the lifecycle of the Third-Party Management Program. This individual will be responsible for designing, implementing, executing and ensuring sustainability for certain program lifecycle areas. This role will interact with business units globally to implement processes and provide oversight once fully rolled out. The lead also serves as a seasoned thought leader and subject matter expert that has strong technical understanding of third party, risk management, reporting and gap analysis within the risk and/or financial services industries.

Responsibilities

• Providing strategic thought leadership in designing and operationalizing third party risk management programs.
• Responsible for designing certain enterprise-wide third party risk management processes and managing through roll out and maturity.
• Responsible for designing and periodically reviewing program related artifacts, risk methodologies, service categories and associated risk profile, reporting thresholds etc.
• Accountable for program documentation including development, periodic review, version control and organized storage for various program documents such as Third Party Management Practice Standard, training materials, desk procedures, etc.
• Accountable for developing training materials, conducting firmwide TPM training and overseeing training performance for the program areas they have designed.
• Monitor regulatory updates that correspond to the assigned area being designed and provide team with guidance on impact of changes in regulatory environment and how to adjust enterprise-wide program to support.
• Responsible for review and prioritization of user specifications for technology enablement and process automations.
• Responsible for managing, designing, and enhancing program activities and mature the program including serving as the TPM Program Subject Matter Expert for technology enablement.

Requirements

• Undergraduate or graduate degree in Accounting, Finance or Risk.
• Bachelor's degree and approximately 5-10 years of related work experience with clear understanding of and experience in financial services / internal audit / risk consulting preferred.
• In-depth knowledge of concentration risk frameworks and/or in-depth knowledge of intercompany operational resiliency requirements.
• Ability to execute risk management strategy development to provide long term planning and managing ongoing risk performance.
• A thorough understanding of third-party (i.e., vendor, supplier, etc.) risk management, with prior experience in designing program solutions, risk scoring and aggregation methodologies and designing committee reporting.
• Understanding of global risk regulatory requirements with emphasis on US (OCC Bulletins, FFIEC, FRB, FDIC) or UK (PRA, FCA).
• Proficiency in Microsoft Word, Excel, PowerPoint as well as data analytic tools including PowerBI.

Nice-to-haves

• Excellent verbal and written communication skills.
• Analytical and communication skills are required to analyze information and disseminate information.
• Leadership and organizational skills to direct the activities for the multiple business units.
• Ability to foster positive and proactive approach to process assessment and improvement and to identify trends and improve processes for both the customer and the business.
• Strong organization, attention to detail, time management, planning skills and the ability to handle multiple competing priorities.
• Ability to make independent decisions and also to be a team player and effective communicator to ensure that issues are appropriately resolved.
• Confidence and expertise to advise management and the business.
• Ability to use initiative and work unsupervised in a proactive manner.
• Demonstrates strong analytical skills with the ability to generate complex reports.
• Highly flexible and adaptable to change in a high demand environment.

Benefits

• 401k
• pension
• medical
• dental
• vision
• spending accounts
• disability
• paid time off
• parental leave
• caregiver leave
• life insurance
• accident insurance
• voluntary benefits
• well-being benefits
• discretionary bonus program that may include an equity component