Responsible for the oversight and governance of the Vendor relationships within EMEA Product, ensuring monitoring is in compliance with the Vendor Management Practice Standard. The role will focus on the key vendor relationships within Global Fund Services, fully understanding the service provided by each vendor, together with their inter-dependencies and impacts across each jurisdiction. Ensuring delivery of service is aligned with business requirements.
Establish and maintain ongoing relationship with each vendor
Escalate to vendor when service standards are not being achieved
Act as point of escalation between vendor and Northern Trust and vice versa.
Evaluate vendor performance and escalate to senior management where vendor represents a business risk.
Monitor the vendor against the terms of the contract and service level agreements
Support any negotiations to contract and commercials, service parameters, rate card, contract duration, service credits, cost savings.
Support any negotiation of service level agreements with vendor, roles and responsibilities, service level definitions, management information, key performance indicators
For new Statements of Work, oversee the flow of change with the vendor, funding availability to support request, cost centre for invoice payments.
Oversee and ensure vendor review and governance model is in line with business criticality and Overall Inherent Risk (OIR).
Ensure oversight of vendor is in compliance with the Vendor Management Practice Standard (VMPS)
Facilitate interaction with the Third Party Outsourcing Committee responsible for determining the OIR for each arrangement
Facilitate interaction with Information Security Technology Risk Management (ISTRM) where arrangements are in scope for Information Technology Third Party Due Diligence Risk Assessments
Manage items identified during ISTRM risk assessment process
Arrange/attend vendor meetings at suitable intervals to facilitate oversight of ongoing business as usual arrangements or ad-hoc engagements via statements of work. Ensure evidence of these vendor meetings is available.
Maintain any necessary documents associated with vendor interaction in line with the VMPS and ensure availability for audit
Receive approval of invoices for contracted services
Receive approval of invoices for ad-hoc services, statements of work
Facilitate allocation of costs to business owners, expense and capital
Review of vendor performance and costs versus contract and budget
Day to day oversight, monitoring and responding to general email and phone enquiries from vendors and or Northern trust teams.
The successful candidate will benefit from having:
Significant Fund services experience in an active Financial Services environment
Demonstrated experience serving as a subject matter expert within a global financial services organization
Effective communicator with the ability to articulate and develop an argument
Proven track record of excellent process management and leadership skills
Strong analytical, numerical and reasoning skills
Proven track record of achieving results within agreed time frames
Ability to work collaboratively with others, taking the initiative to resolve complex business problems and support cross functional vendor relationships
Flexibility and adaptability to change
Structured communication skills
Good interpersonal skills
About Northern Trust:
Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
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 that is committed to strengthening the communities we serve!
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity in 2018. 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 ethical companies. Build your career with us and apply today!
Want to learn more about our company? Visit www.northerntrust.com
We are a leading global financial institution- Click here to check out our company accolades! https://www.northerntrust.com/united-states/about-us/accolades
Internal Number: 6101911
About Northern Trust
eFinancialCareers is a career site specializing in financial services.