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.
About the Role
Reporting to the Global Head of Outsourcing, the Outsourcing Manager will be responsible for facilitating, implementing, and ensuring a consistent approach to the Outsourcing Framework for the Ireland Legal Entities, while collaborating closely with global partners.
Key priorities are ensuring compliance with the Central Bank of Ireland regulatory obligations, keeping abreast of emerging regulations and developments, representing the Irish legal entities at appropriate Northern Trust Third Party and Outsourcing forums, committees and contributing to the strategy and direction of these bodies.
Key responsibilities of the role include;
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Lead role in creating, maintaining and developing the Legal Entity Outsourcing Governance Frameworks, to include Strategy, Exit Strategy and Outsourcing Procedure documents
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Support the execution of the Global Outsourcing Oversight Framework and ensure all local jurisdictional requirements are considered.
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Support other priorities of the Global Head of Outsourcing and the Global Outsourcing team as they arise
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Standing Attendee of the OOROCs and attend Risk Committee and Board meetings (as appropriate) to present status of all outsourced arrangement
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Holding functions accountable to manage and oversee their relevant outsourcing risk
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Monitoring and escalating non-compliance with the framework
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Support the annual review of the Legal Entity Outsourcing Addendum will be owned by the 2LOD. The Outsourcing Manager is responsible for developing, updating and maintaining any local procedures required to implement a Legal Entity Outsourcing Addendum
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Owns and maintains the Legal Entity Outsourcing and Third Party Register on behalf of the legal entity CEO’s. Responsible for ongoing updates and outreach to the functional teams for data point refresh.
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Responsible for the coordination of completion of the Investment Services Outsourcing Register Return and subsequent submission to the Central Bank of Ireland, where required
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Maintain the service menus appended to the Intercompany Service Agreements
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Liaise with internal departments and support them through the five stages of outsourcing, from new proposals through to any proposed termination of an outsourced arrangement, ensuring the correct governance process has been followed, to include internal and CBI approval for any new proposed critical outsourced arrangements.
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Overseeing the completion of risk assessment and due diligence activities by coordinating with and supporting functional owners to ensure completion in line with required frequency
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Support ongoing monitoring; review issues/challenges identified during the risk assessment and ongoing monitoring process and escalate as applicable to relevant Senior Management, accountable owners and Governance Committees
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Create and present Legal Entity Management Information (MI), dashboards, reports and escalations to legal entity committees responsible for outsourcing, Risk Committees and Boards
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Provide technical advice and guidance to all relevant stakeholders, ensuring ongoing awareness of obligations and responsibilities with respect to the outsourcing framework. Run workshops and training sessions covering Irish regulatory requirements as well as CBI expectations in relation to outsourcing, to include the annual e-learning outsourcing training module.
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Attend client Due Diligence meetings to provide an overview of the firms’ Outsourcing Framework
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In collaboration with legal, risk and compliance, stays abreast of and reviews proposed changes to regulatory announcements, legislation and industry practices for onward embedment in the Legal Entity Outsourcing Framework
Skills / Experience
The successful candidate will benefit from having;
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Bachelor's degree and several years of related work experience with clear understanding of and experience in financial services / compliance / risk preferred
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A solid understanding of third-party (i.e., vendor, supplier, etc.) risk management, in particular CBI Regulations in relation to Outsourcing
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Deep knowledge of business operations and corporate functions with a strong understanding of internal controls and risk management
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Ability to think strategically, build credibility and influence key stakeholders
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Experience in change management and project management
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Excellent communication skills, both verbal and written, and proven ability to effectively interact with senior management
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Strong organization, attention to detail, time management, planning skills and the ability to handle multiple competing priorities
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Highly flexible and adaptable to change in a high demand environment
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Proficiency in Microsoft Word, Excel and PowerPoint
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. #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 [email protected].
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.
