Third Party Management - Oversight Committee and Reporting Lead
Welcome to Northern Trust – a leading global provider of asset servicing, asset management, and banking solutions. We are currently seeking a highly motivated and experienced individual to join our team as the Third Party Management - Oversight Committee and Reporting Lead. In this role, you will be responsible for ensuring effective oversight and management of third party relationships, as well as providing critical reporting and analysis to support our business objectives. We are looking for someone with a strong background in third party management, exceptional communication and analytical skills, and a passion for driving continuous improvement. If you thrive in a fast-paced and dynamic environment and are committed to delivering excellence, we invite you to apply for this exciting opportunity.
- Develop and implement strategies for effective oversight and management of third party relationships.
- Conduct regular evaluations of third party vendors to ensure compliance with company policies and procedures.
- Collaborate with internal stakeholders to identify and mitigate potential risks associated with third party relationships.
- Monitor and track key performance indicators for third party vendors to ensure service level agreements are met.
- Prepare and present detailed reports to senior management on the status of third party relationships and any identified risks or issues.
- Develop and maintain strong relationships with third party vendors to facilitate effective communication and issue resolution.
- Stay current on industry best practices and regulations related to third party management and make recommendations for improvement.
- Lead and facilitate meetings with the oversight committee to review and discuss third party relationships and any associated risks.
- Collaborate with cross-functional teams to identify opportunities for cost savings and process improvements related to third party management.
- Train and mentor junior team members on third party management processes and procedures.
- Ensure compliance with all applicable laws, regulations, and company policies related to third party management.
- Proactively identify areas for improvement and implement solutions to enhance the overall efficiency and effectiveness of third party management processes.
- Serve as a subject matter expert on third party management to internal and external stakeholders.
- Foster a culture of continuous improvement and innovation within the third party management team.
- Act as a liaison between different departments to ensure seamless communication and coordination related to third party relationships.
Extensive Knowledge Of Third Party Management: The Ideal Candidate For This Role Should Possess A Deep Understanding Of Third Party Management Practices, Including Vendor Selection, Due Diligence, Contract Negotiation, And Ongoing Oversight. This Knowledge Will Enable Them To Effectively Lead The Oversight Committee And Report On Third Party Activities.
Strong Communication And Reporting Skills: As The Reporting Lead For Third Party Management, The Candidate Must Have Excellent Communication Skills And The Ability To Convey Complex Information In A Clear And Concise Manner. They Should Also Have Experience In Creating And Presenting Reports To Senior Management And Regulators.
Project Management Experience: This Role Will Involve Managing Multiple Projects And Initiatives Related To Third Party Management. The Candidate Should Have A Proven Track Record Of Successfully Managing Projects, Including Setting Timelines, Coordinating With Stakeholders, And Ensuring Successful Project Delivery.
Regulatory Compliance Knowledge: Third Party Management Is A Heavily Regulated Area, And The Reporting Lead Must Have A Thorough Understanding Of Relevant Regulations And Guidelines. They Should Also Have Experience In Conducting Compliance Reviews And Audits To Ensure Adherence To Regulatory Requirements.
Analytical And Problem-Solving Skills: The Oversight Committee And Reporting Lead Will Be Responsible For Identifying Potential Risks And Issues With Third Party Relationships. The Candidate Should Possess Strong Analytical And Problem-Solving Skills To Proactively Address These Risks And Find Solutions To Any Issues That May Arise.
Communication Skills
Project Management
Data Analysis
Contract Negotiation
Reporting
Team Leadership
Risk assessment
Due Diligence
Problem-Solving
Stakeholder management
Compliance monitoring
Vendor evaluation
Communication
Conflict Resolution
Emotional Intelligence
Leadership
Time management
creativity
Attention to detail
Teamwork
Adaptability
Problem-Solving
According to JobzMall, the average salary range for a Third Party Management - Oversight Committee and Reporting Lead is between $80,000 and $120,000 per year. This can vary depending on the specific company, location, and level of experience. Some positions may also offer additional benefits such as bonuses, stock options, and other perks.
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Northern Trust Corporation is a financial services company that caters to corporations, institutional investors, and ultra high net worth individuals. It is one of the largest banks in the United States and one of the oldest banks in continuous operation.
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