Manager, Procurement and Third-Party Governance & Compliance
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Job Location:
Chicago, IL - USA
Monthly Salary:
$ 114700 - 194900
Posted on:
17 hours ago
Vacancies:
1 Vacancy
Job Summary
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 worlds 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 22000 partners we serve the worlds most sophisticated clients using leading technology and exceptional service.
The Head of Procurement Governance & Compliance is a senior leadership role responsible for designing implementing and sustaining a comprehensive governance audit and compliance framework across Global Procurement and Third-Party Management. This role serves as the First Line of Defense (1LOD) subject matter leader accountable for audit readiness regulatory change management risk and control effectiveness and remediation execution.
The role partners closely with the Global Sourcing Third-Party Management Office (TPMO) Risk Compliance Internal Audit and business stakeholders to ensure strong control discipline timely issue resolution and transparent executive reporting.
Major Duties :
Governance Risk & Compliance Leadership
- Design implement and sustain a comprehensive Procurement and Third-Party governance and compliance program aligned with enterprise risk and regulatory requirements.
- Implement and maintain the Risk and Control Matrix (RACM) for Procurement and Third-Party Management ensuring control clarity ownership and operating effectiveness.
- Establish and maintain a structured Regulatory Change Management intake and oversight process for Procurement and Third-Party programs.
- Launch and manage internal governance dashboards reporting and metrics to enable proactive monitoring of audit status risks issues and remediation progress.
- Track monitor and report on self-identified issues ensuring timely escalation and resolution.
Audit Management & Readiness
- Lead and efficiently complete Third-Party Procurement and TPMO audits serving as the primary 1LOD owner.
- Design and execute a sustainable audit readiness program including control documentation evidence standards and walkthrough preparedness.
- Proactively address audit findings and regulatory feedback ensuring timely and effective remediation.
- Continue to mature the audit function driving consistency discipline and continuous improvement.
- Establish and oversee a 1LOD testing program within Third-Party Management to proactively validate control operating effectiveness.
Risk & Control Execution (RCE) Oversight
- Sustain the 1LOD RCE Quality Control (QC) process for Procurement and Third-Party deliverables prior to submission.
- Partner with the TPMO Control Tower to support RCE submission packages and executive memos as required.
- Provide bi-weekly RCE status updates to the Chief Procurement Officer.
- Deliver monthly executive reporting to the CPO on audit outcomes issue remediation status and emerging risk themes.
Policies Procedures & Standards
- Review maintain and enhance Procurement and Third-Party policies standards and SOPs ensuring alignment with regulatory expectations and operational reality.
- Develop new SOPs as needed to support new regulations control enhancements or operating model changes.
- Ensure policy and procedure governance is consistently embedded across Global Procurement.
Stakeholder Management
- Act as a trusted advisor to the CPO TPMO Risk Compliance and Internal Audit teams.
- Represent Procurement in regulatory discussions audits and control forums as the authoritative 1LOD leader.
Knowledge :
- Audit & Regulatory Readiness
- Risk & Control Design (RACM RCE 1LOD Testing)
- Third-Party Risk & Procurement Compliance
- Executive Reporting & Governance Metrics
- Policy & Procedure Governance
- Stakeholder Influence & Cross-Functional Leadership
Experience :
- 10 years of experience in procurement governance risk management audit compliance or third-party risk preferably within financial services or a highly regulated environment.
- Demonstrated experience leading regulatory exams audits issue remediation and control programs within a First Line of Defense model.
- Deep knowledge of Third-Party Risk Management Procurement controls RACMs RCSA audit lifecycle and regulatory change management.
- Proven ability to design governance frameworks and translate regulatory expectations into scalable operating practices.
- Strong executive presence with the ability to communicate clearly with senior leaders and regulators.
Salary Range:
$114700 - 194900 USDSalary range is a good faith estimate of base pay. 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.
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.
Wed love to learn more about how your interests and experience could be a fit with one of the worlds most admired and sustainable companies! Build your career with us andapply 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 youre 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.
Required Experience:
Manager
About Company
Discover Northern Trust’s trusted financial services for individuals, families, and institutions. Guided by service, expertise, and integrity since 1889, we offer wealth management, asset servicing, and investment solutions tailored to your goals.
