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Senior Consultant Team Leader, Third Party Governance & Oversight, London

Northern Trust
London, United Kingdom
Closing date
Oct 1, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
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.

About Northern Trust Asset Management

Northern Trust Asset Management (NTAM) is a global Investment Manager with $1.1 Trillion Assets Under Management, is a top 20 global asset manager, top 10 largest factor investor globally and the 12th largest ETF provider.

We believe investing ultimately serves a greater purpose and should be done intentionally and efficiently ...

... by people who are passionate, astute and tenacious problem solvers
... with the understanding that all investing involves risk and
... is best accomplished by using an empirically based process.

At Northern Trust Asset Management, we understand that investing ultimately serves a greater purpose. That is why our philosophy is rooted in the fundamental belief that investors should get compensated for the risks they take - in all market environments and in any investment strategy.

At the heart of our philosophy is how we think about, view and analyze risk. As risk-aware investors, we take risk intentionally, to achieve investors' desired outcomes and minimize unintended consequences.

In EMEA, Northern Trust Asset Management serves professional investors offers a wide range of investment management capabilities, across active and passive, equities, fixed income and cash management. This includes quant active, sustainable investing, multi-asset, liquidity focused solutions as well as more traditional index management. Capabilities are available through both pooled funds and segregated accounts, with a focus on designing investment strategies to meet the specific needs of investors. NTAM manages the largest European ESG fund and 5/10 largest ESG index funds globally*.

Role/ Department:

Reporting into the Head of Business Governance and Oversight, this 1st line role within the Business will help further develop and drive a scalable third party management framework to support the continued evolution of said framework, ensuring the ability to continue to safeguard NTAM EMEAs legal entities, clients and regulatory deliverables.

The role sits within an existing team who serve as the main point of escalation for key service providers for the local business unit and has a broad remit across various departments/teams. Superior communication and relationship building skills combined with a keen eye for detail are essential as is good IT skills, power BI, excel, power-point and database used for analysis, documentation, reporting purposes. There is an opportunity for the successful candidate to be involved in driving forward the oversight model within the team and to assist in the build out of operational oversight and vendor management processes that are in place today both a local and global level with the business unit.

The key responsibilities of the role include:
  • Drive the adoption and provide expertise to ensure business unit compliance with the NT Corporate third party vendor management framework, procedures and guidelines together with all relevant regulatory requirements where appropriate, providing guidance to stakeholders on third party governance, oversight and risk mitigation
  • Support the Head of Business Governance and Oversight with team management responsibilities for the third party governance and oversight function
  • Act as the Outsourcing Manager for the legal entity, the accountable individual who is responsible for performing legal entity-level oversight for all third party vendors and Intercompany Services.
  • Maintain the Register for all third party and Intercompany Arrangements including Sub-contracting, where applicable
  • Maintain Intercompany Service Agreements, in consultation with Legal, in line with regulatory expectations
  • Creating and presenting Legal Entity Management Information (MI), dashboards, reports and escalations to business unit stakeholders and legal entity governance forums
  • Supporting Ongoing Monitoring and, where required, Exit Strategy activities; review issues/challenges identified during the risk assessment and ongoing monitoring process and escalate as applicable to relevant Senior Management and Governance Committees
  • Assist the business unit in business as usual processes to ensure the smooth running of day to day operations with key third party relationships, providing oversight and ensuring deliverables are managed to deadlines and in accordance with SLAs. Report issues and potential errors in a timely and accurate manner, escalating to Head of and/or Senior management as and when required.
  • Drive as needed critical vendor deep dives, working with both the business and relevant vendor manager, to ensure there is the appropriate assessment of services, documentation to support the vendor relationship and operational resiliency strategies in place.
  • Build relationships with key internal and external stakeholders at both a local and global level, acting as an internal escalation for complex issues and working to oversee external parties on operational processes and resolution of issues.
  • Work with key stakeholders as both a local and global level on the implementation of changes required to operating models to support new regulations in respect to outsourced activities as an when required.
  • Help with the design of a training plan to support business teams awareness of legal entity requirements in respect of offshored/outsourced activities.

Knowledge / Skills:
  • Extensive experience in a third party oversight role with proven experience of service provider/outsourced operational requirements supporting Front, Middle and Back office Investment management services
  • Proven relationship building skills with the ability to quickly gain trust and manage stakeholders effectively both internally (within a highly matrixed and global operating model) and externally with 3rd party relationships.
  • Good knowledge of UK and EU regulatory environment, and other regulation as it relates to third party management, outsourcing and offshoring operating models associated risks and controls and applying them to third party relationships.
  • Experience of both reviewing/negotiating SLAs and KPIs and leading service reviews and due diligence reviews
  • Team player and strong leadership capabilities
  • Possess strong written and verbal communication skills, including presentation, stakeholder and senior executive reporting.
  • Ability to multitask, quickly assess issues, propose solutions and convey complex information in a simple way in a fast paced environment across a wide range of stakeholders (from peer group to C suite/Board members)
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 .

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/

Additional Information

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