Consultant - Procurement and Third-Party Governance & Compliance

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.

Requirements

• 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:
• $64,125 - 105,925 USD
• Work Authorization
• Working with Us

Benefits

Additional Information

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. 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.

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