Consultant - Procurement and Third-Party Governance & Compliance

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.

Job Description

Northern Trust, a Fortune 500 company, is a globally recognized financial institution with over 130 years of experience providing innovative financial services. The Audit & Regulatory Specialist (P2) role supports the Third Party Management (TPM) and Procurement teams by assisting with audit, regulatory, and risk management activities related to third‑party risk assessment controls.

This position focuses on execution, documentation, and coordination of audit and regulatory support activities under the guidance of more senior team members. The role requires a foundational understanding of control processes, regulatory expectations, and third‑party risk management practices.

Key Responsibilities

• Support internal and external audits related to Third Party Management and Procurement by assisting with audit requests, documentation collection, and evidence preparation.
• Assist in the execution of first line of defense (1LOD) testing activities, including sampling, control testing, and documentation of results.
• Help prepare risk assessments and contribute to annual audit and testing plans for the Third Party Management Office.
• Review business processes and controls against documented policies, procedures, and regulatory expectations, escalating issues as identified.
• Compile audit materials, summaries, and working papers under established templates and guidance.
• Assist with tracking audit issues, regulatory findings, and remediation activities to support timely closure.
• Support reviews of Internal Audit reports and assist in drafting responses or remediation documentation.
• Participate in meetings with business partners to gather information and clarify documentation needs.
• Maintain organized records and repositories to support audit readiness and ongoing compliance.

Qualifications

• Bachelor’s degree in Business, Accounting, Finance, Risk Management, or a related field.
• Approximately 1–3 years of relevant experience in audit, risk management, compliance, procurement, or third‑party risk.
• Basic understanding of audit processes, internal controls, and regulatory compliance concepts.
• Exposure to third‑party or vendor risk management concepts is preferred but not required.
• Strong attention to detail, organization, and documentation skills.
• Ability to follow established procedures and work effectively under supervision.
• Effective written and verbal communication skills.

Preferred Experience / Knowledge

• Familiarity with Third Party Risk Management (TPRM) or Procurement processes.
• Awareness of financial services regulatory expectations (e.g., OCC, FFIEC, PRA, FCA) is a plus.
• Experience supporting audits, issue management, or control testing activities.
• Proficiency with Microsoft Office tools (Excel, Word, PowerPoint).

Key Competencies

• Detail‑oriented and process‑focused
• Ability to learn and apply regulatory and control concepts
• Strong documentation and organizational skills
• Collaborative and responsive to guidance
• Accountability for assigned tasks and deadlines

Salary Range:

Salary 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.

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.