Specialist, Third Party Management Office Risk Governance

Northern Trust; Chicago (IL); On-site; USD 115,000 - 195,000; Full time

Job summary

Northern Trust seeks a seasoned risk professional to lead the TPMO governance and reporting efforts across enterprise risk. You will coordinate risk inputs, manage governance materials, and escalate emerging risks to senior leadership while ensuring alignment with enterprise standards.

With 7+ years in corporate risk, you will translate complex risk concepts into practical processes, collaborate across functions, and support third-party risk controls and documentation to strengthen governance

Qualifications

• Bachelor’s degree in Business, Finance, Risk Management, or a related field.
• 7+ years of relevant experience in Corporate Risk Management, Enterprise Risk Management, Operational Risk, risk governance, internal controls, audit, compliance, or a related discipline.
• Strong understanding of enterprise risk frameworks, control environments, issue management, and governance requirements.
• Ability to translate risk management requirements into practical processes, documentation, defined responsibilities, and reporting.

Responsibilities

• Lead TPMO risk governance routines, including materials preparation, decisions documentation, action assignment, and monitoring.
• Identify dependencies, reporting gaps, and elevated issues through governance channels.
• Support risk management processes, documentation expectations, timelines, and reporting obligations.
• Provide guidance to TPMO partners regarding Corporate Risk Management.

Skills

Risk governance

Third-Party Risk

Analytical skills

Communication skills

Cross‑functional collaboration

Independent judgment

Education

Bachelor’s degree in Business/Finance/Risk Management

Tools

Power BI

Job description

About Northern Trust

As 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.

Key Responsibilities

• Manage TPMO participation in applicable Corporate Risk Management processes, including risk and control assessments, issue management, operational risk events, control governance, and related risk activities.
• Coordinate the implementation of Corporate Risk Management requirements within TPM processes, documentation, responsibilities, and reporting routines.
• Maintain the TPMO calendar of required risk activities, assessments, governance reviews, reporting, and deliverables.
• Coordinate inputs from TPMO process owners and subject matter experts to support timely and accurate completion of risk management obligations.
• Maintain a consolidated view of TPMO risks, controls, issues, action plans, operational risk events, and related governance commitments.
• Incorporate Corporate Risk Management information into established TPMO reporting, including key themes, emerging risks, overdue activities, and matters requiring leadership attention.
• Facilitate TPMO risk governance routines, including preparation of materials, documentation of decisions, assignment of actions, and monitoring of commitments.
• Support the identification, documentation, escalation, and reporting of risks, issues, control gaps, and operational risk events in accordance with enterprise requirements.
• Maintain governance documentation and supporting evidence to demonstrate completion of TPMO’s Corporate Risk Management responsibilities.
• Identify dependencies, recurring themes, and reporting gaps across TPMO risk activities and elevate them through established governance channels.
• Provide guidance to TPMO partners regarding Corporate Risk Management processes, documentation expectations, required timelines, and reporting obligations.
• Support enhancements to TPMO governance procedures, reporting processes, roles, and supporting documentation.
• Assist TPMO leadership with governance materials and risk information for management discussions and applicable forums.
• Leads in the Third‑Party Risk governance framework in the 1st Line of Defence, with oversight and reporting to enterprise leadership on related risk and control profile, issues / incidents and any relevant emerging risks.
• Works with Vendor Managers to ensure that Third Party Risk policies and guidelines are adhered to, and provide actionable support and guidance to the Business.
• Escalates any concerning trends to Senior Management. This may include (but not limited to) oversight and monitoring of emerging risks, weaknesses in controls and material change programs, deterioration in service / performance standards, and provide guidance on mitigating actions.
• Assists in review of internal and external Third‑Party Risk related events and issues, to ensure that the root cause is adequately identified and remediation actions are fit for purpose.
• Works to ensure appropriate oversight / governance of intra‑group arrangements is in place, and changes to business models are accurately reflected in applicable group documentation.
• Assists in the support of local regulatory and audit engagements pertaining to Third Party Risk; this includes supporting remediation activities.
• Supports Third Party Risk awareness and risk management culture in order to ensure that the material risks are both evident and effectively managed.
• Exercises judgment based on the analysis of multiple sources of information.
• Able to lead cross functional or complex projects with manageable risks and resource requirements.
• Acts as a subject matter expert for all team members, substitutes for manager when required.
• Knowledge: Bachelor’s degree in Business, Finance, Risk Management, or a related field.
• Approximately 7+ years of relevant experience in Corporate Risk Management, Enterprise Risk Management, Operational Risk, risk governance, internal controls, audit, compliance, or a related discipline.

Required Qualifications

• Strong understanding of enterprise risk frameworks, control environments, issue management, and governance requirements.
• Ability to translate risk management requirements into practical processes, documentation, defined responsibilities, and reporting.
• Experience preparing risk and governance information for leadership or governance forums.
• Proven ability to coordinate complex deliverables across multiple stakeholders without direct authority.
• Strong analytical and organizational skills, with the ability to connect information across risks, controls, issues, audit matters, and operational activities.
• Strong written and verbal communication skills, including the ability to present complex risk information clearly and concisely.
• Ability to exercise independent judgment while operating within an established functional framework and escalation structure.
• Strong understanding of Third‑Party Risk management principles, including experience with policy development, control definition, and application of controls in the business.
• Strong knowledge of Third‑Party Risk control environment.
• Strong knowledge of corporate risk policies and standards.
• Strong working knowledge of technologies relevant to responsibilities.
• Strong analytical skills including the use of relevant Tools such as Power BI.
• Strong collaboration and communication skills.
• Ability to drive to execution.
• Applies knowledge of key business drivers and the factors that maximize department performance.
• Experience within Third‑Party Risk Management, Procurement, financial services, or another regulated environment.
• Experience working within, or closely with, a Corporate Risk Management or Operational Risk Management function.
• Knowledge of first‑line responsibilities within enterprise risk management frameworks.
• Familiarity with financial services regulatory expectations.
• Experience with governance, risk, and compliance platforms or enterprise risk systems.
• Professional certification such as CRMA, CIA, CISA, CRCM, FRM, or an equivalent risk‑related credential is preferred.
• A College or University degree and/or relevant proven work experience is required 5‑7 years of related experience in roles working in Third Party risk related topics.

Salary

Salary Range: $114,700 - 194,900 USD Salary range is a good faith estimate of base pay.

Benefits

Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well‑being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment‑based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment‑based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

Northern Trust is committed to working with and providing reason fine accommodations to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1‑800‑807‑0302 (North America), +630‑276‑5353 (Asia Pacific), 1800‑425‑0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

APAC/INDIA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non‑discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

Canada EEO STATEMENT

Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship status, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected under federal, provincial, or local law, regulation, or ordinance.

EMEA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non‑discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

USA EEO STATEMENT

It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status.

EEO Know Your Rights (U.S.)

EEO Know Your Rights (U.S.)

Terms and Conditions

Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1‑800‑807‑0302 (North America), +630‑276‑5353 (Asia Pacific), 1800‑425‑0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.