Northern Trust
Strategic Vendor Manager
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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:
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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
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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.
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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.
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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 and efficiency in processes and controls related to vendors
- Provide and attend accurate and insightful reporting to various oversight committees.
- Formulate and implement comprehensive supplier strategies and vendor roadmaps (3 – 5+years) for the enterprise Strategic Vendors aligned with overall business goals, risk appetite, including demand management, and contract management.
- Consolidate global spend across multiple regions and business units to leverage economies of scale, enhance negotiation power, and deliver total cost of ownership savings.
SKILLS & EXPERIENCE
- Excellent written and verbal communication skills.
- Effective communicator with the ability to articulate and develop a challenge
- Strong leadership and accountability; takes initiative, drives results, and leads with purpose across teams
- Seasoned professional with strong technical, business, and functional knowledge.
- Demonstrated risk management expertise with the ability to assess and mitigate risks effectively.
- Strong interpersonal and communication skills, with the ability to build, lead and manage relationships with internal and external stakeholders.
- Skilled in building, leading, and managing external relationships.
- Confident and experienced in presenting to Senior executives
- Strong presentation, communication and influencing skills, at all levels of the organisation and into supplier organisations
- Strong organisational and time management skills; able to prioritise tasks, manage competing deadlines, and deliver high-quality outcomes in a fast-paced environment.
- Self-motivated team player with a flexible, adaptable, and solutions-focused approach
- Experience in a senior role within an industry leading, global financial services organization
- Experienced in strategic planning, assessing needs, rationalising across the value chain to present recommendations on vendor roadmaps to senior executives.
- 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
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Knowledge:
- Knowledge of the Global jurisdictions regulators and requirements for 3rd parties
This role is critical in ensuring the efficient acquisition of goods and services, maintaining regulatory compliance, and supporting vendor risk management.
The ideal candidate will have experience in leading operational teams within financial services, having a strong knowledge of regulatory frameworks, and a commitment to operational excellence.
Understanding of operational risk management, including how to identify, evaluate and mitigate risks.
Work Authorization
Applicants must have the right to work in the United Kingdom at the time of application and for the duration of employment.
Please note that Northern Trust is unable to provide visa sponsorship for this role. This includes Skilled Worker visas, Global Business Mobility routes, Graduate visas, Youth Mobility Scheme, High Potential Individual visas, Scale-up Worker visas, Temporary Worker visas, and other employer-sponsored visa categories.
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 committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com, or alternatively you can discuss your individual requirements with the recruiter you are working with.
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