Intercompany Agreements Relationship Manager

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 world’s 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 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Role/Department: Regulatory guidelines for financial institutions have increased the requirements and responsibilities associated with outsourcing services to affiliates and third parties. The Intercompany Arrangement (ICA) Relationship Manager, who reports to the Head of Service Governance Office, oversees the ICA processes for The Northern Trust Company (TNTC) and is the primary owner of all ICA relationships between TNTC and all other global legal entities. As a Service Recipient and Service Provider, the ICA Relationship Manager is responsible for owning execution of ICA activities, while managing the risks over the life of the intercompany relationship. This position is responsible for facilitating, implementing, and ensuring a consistent approach to the ICA framework while collaborating closely with global partners. The ICA Relationship Manager is tasked with supporting the implementation, oversight, and sustainability of the ICA framework and target operating model. This role also involves collaboration with other key functions and partners to ensure the effectiveness of these activities.

Key Responsibilities:

• Responsible for the internal aggregate execution, monitoring and oversight of intercompany agreements across multiple legal entities, including collating data; challenging service recipients; identifying improvements; assisting with development of reporting for relevant Committees and Boards.
• Responsible for supplier governance and contract management through the implementation of service agreements and service descriptions.
• Supporting communication efforts and building a strong stakeholder engagement model to promote the intercompany outsourcing activities and support firm-wide change management in the outsourcing functions.
• Assisting businesses in responding to regulatory queries and follow-on requests for information.
• Supporting the completion of Regulatory submissions, as required for the outsourcing of material/critical services.
• Holding functions accountable to manage and oversee their relevant outsourcing risk.
• Monitoring and escalating non-compliance with the framework.
• Overseeing and driving the execution of BAU and key strategic enhancement activities, in line with the established processes and best practice.
• Supporting more junior team members in the execution of activities as necessary.
• Planning and executing large scale and complex projects and initiatives to deliver a best practice intercompany outsourcing framework.

Skills/Experience:

• Bachelor's degree and several years of related work experience with clear understanding of and experience in financial services / internal audit / risk consulting preferred.
• An undergraduate or graduate degree in Accounting, Finance or Risk and/or another appropriate academic major is highly preferred.
• A solid understanding of third-party (i.e., vendor, supplier, etc.) risk management.
• Understanding of global risk regulatory requirements for US (OCC Bulletins, FFIEC, FRB, FDIC) and / or UK (PRA, FCA).
• Ability to think strategically, build credibility and influence key stakeholders.
• Extensive experience in outsourcing risk management in wholesale Banking or Financial Services organizations, including service governance and cost allocations.
• Deep knowledge of business operations and corporate functions with a strong understanding of internal controls and risk management.
• Experience in change management and project management.
• Excellent communication skills, both verbal and written, and proven ability to effectively interact with senior management.
• Ability to foster positive and proactive approach to process assessment and improvement and to identify trends and improve processes for both the customer and the business.
• Strong organization, attention to detail, time management, planning skills and the ability to handle multiple competing priorities.
• Highly flexible and adaptable to change in a high demand environment.
• Proficiency in Microsoft Word, Excel, PowerPoint as well as data analytic tools including PowerBI.

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. 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 sustainable companies! Build your career with us and apply today.

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. We hope you’re 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.