At a Glance
- Tasks: Manage global vendor relationships and drive strategic partnerships for business success.
- Company: Join Northern Trust, a leader in wealth management and financial services.
- Benefits: Competitive salary, professional development, and a collaborative work environment.
- Other info: High-profile role with opportunities for innovation and career growth.
- Why this job: Make a meaningful impact on global vendor strategies and enhance business resilience.
- Qualifications: Experience in vendor management and strong communication skills required.
The predicted salary is between 59400 - 72600 £ per year.
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.
About The Role
We are seeking a Strategic Global vendor manager to join our team.
Reporting to the Head of Global Strategic Vendor Management, this role will be responsible for overseeing and developing our Global Strategic vendor relationships.
As a dedicated Strategic vendor manager, you will play an integral part in the management and oversight of our Enterprise Global Strategic Vendors, helping our organisation build strong partnerships and achieve business success, across all of our enterprise functions.
The Strategic Vendor Manager will play a pivotal role in driving the strategic management of provider relationships, ensuring robust risk management practices, and leading the commercial strategy with external partners.
The position requires providing leadership, shaping global strategic partnerships supporting both the business needs and the bank’s long-term strategic objectives.
As part of the Strategic Vendor Management Team, this is a high-profile role offering the opportunity to make a meaningful long term impact on Northern Trust's global vendor partnership strategy.
The successful candidate will contribute to strengthening relationships globally, fostering strong resiliency, governance oversight and commercial productivity.
- The Key Responsibilities Of The Role Include
- Own and lead Relationship Management and Communication
- Develop and maintain strong, collaborative relationships with the Global Strategic vendors to achieve mutually beneficial goals and build trust - acting as the primary point of contact for high-level communication, strategic roadmaps, commercial oversight and issue resolution.
- Drive joint business planning sessions, Executive Service reviews, and continuous improvement initiatives
- Chair periodic Executive Strategic product and change management reviews, fostering a culture of partnership and mutual growth, identifying opportunities for innovation and partnership opportunities
- Facilitate effective communication and problem-solving between the business and Strategic Vendors
- Effective Contractual and Agreements
- Drive and support the negotiation of legal documentation , contracts and commercials with procurement and legal
- Support procurement and drive structuring of clear vendor agreements to ensure both parties understand roles and responsibilities and rationalising MSAs where possible
- Establish and monitor key performance indicators (KPIs) for the specific product lines, regularly reporting on their performance against agreed-upon metrics.
- Monitor contract terms and obligations ensuring adherence by both parties.
- Identify and drive cost reduction opportunities, value initiatives, and balance of trade opportunities
- Proactive vendor and contract global management, including negotiation and competitive RFIs to drive scale, pricing flexibility, and market competitiveness.
- Managing performance, creating a culture of accountability through clearly defined and meaningful SLA's, KPI's and scorecards.
- Risk and Resiliency
- Proactively identify and assess supply chain risks, developing mitigation strategies to ensure business continuity.
- Monitor economic, and industry trends that could impact the Strategic Supplier performance, availability and vendor roadmaps
- Develop contingency plans for any critical components or services, providing deep business and vendor knowledge into NT resiliency planning and drive vendor outcomes against NT regulatory impacts
- Perform onsite visits to maintain core risk management, resiliency oversight and governance.
- Meet with clients regularly explaining our Third Party oversight policy and specific vendor impacts.
- Lead supplier due diligence and onboarding processes, including financial stability checks and compliance with third-party risk management policies and act as a point of escalation for issue resolution.
- Support internal audits and external regulatory reviews related to procurement and third-party management.
- Strategic Planning and Vendor Roadmaps
- Work with the business Exec stakeholders on long term strategy, complete vendor and product global 360's helping shape business strategic planning and where applicable, support RFP's
- Lead or support continuous improvement initiatives, driving innovation a
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Strategic Vendor Manager employer: ntrs
Northern Trust is an exceptional employer, offering a dynamic work environment in the heart of London where innovation meets tradition. Employees benefit from a strong focus on professional development, collaborative culture, and comprehensive support for work-life balance, making it an ideal place for those looking to grow their careers in global treasury and liquidity management.
StudySmarter Expert Advice🤫
We think this is how you could land Strategic Vendor Manager
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like ntrs. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Strategic Vendor Manager
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to ntrs.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on ntrs's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at ntrs
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with ntrs.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at ntrs will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former ntrs employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
