Specialist, Third Party Risk

ntrs; Limerick; On-site; EUR 90,000 - 120,000; Full time

Job summary

Northern Trust in Ireland is seeking a Senior Third-Party Risk Consultant to oversee risk programs and ensure regulatory compliance. You will independently lead risk assessments, interpret policies, and advise management on mitigating controls.

The role requires deep knowledge of third-party risk, strong analytical skills, and the ability to mentor junior staff while coordinating risk initiatives across functions.

Qualifications

• Deep knowledge of third-party risk controls and regulatory requirements.
• Ability to interpret policies and implement controls.
• Strong communication and analytical skills.

Responsibilities

• Oversee 1st Line of Defense adherence to the Third-Party Risk policy.
• Provide 2LOD challenge and program oversight to requirements.
• Review, document, and update policies within relevant laws.
• Monitor regulatory compliance and risk outcomes for the organization.
• Advise managers on risk issues and policy conflicts.
• Mentor junior staff and coordinate risk projects.

Skills

Third-Party Risk

Regulatory Compliance

Risk Management

Communication

Project Leadership

Job description

About Northern TrustAs a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world's most successful individuals, families, corporations and institutions.Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.With more than 135 years of financial experience and over 24,000 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

• 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 Glo