Northern Trust

Vendor Management & Contract/Commercial Governance

Northern Trust  •  Limerick, IE (Onsite)  •  1 day ago
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Job Description

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.

Under general supervision, the Commercial Manager is responsible for commercial governance, contract oversight, and financial risk management for Human Resources vendor relationships within a regulated financial services environment. This role partners with HR Centers of Excellence (COEs), Procurement, Legal, Finance, and Risk to ensure commercial terms, pricing structures, and contractual obligations are appropriately managed throughout the vendor lifecycle and aligned with internal governance and Third‑Party Risk Management (TPRM) requirements.

The role provides commercial subject‑matter expertise to support informed decision‑making related to vendor selection, negotiations, renewals, amendments, and exits, with a focus on cost saving, value optimization, and risk mitigation.

Major Duties

•Provide commercial oversight for HR vendor contracts, including coordination of negotiations, renewals, amendments, and terminations in partnership with HR COEs, Procurement and Legal.
•Ensure commercial terms appropriately address financial, operational, regulatory, and data protection risk, in alignment with TPRM standards and internal policies.
•Review and maintain pricing models, fee structures, SLAs, incentives, and contractual remedies to ensure clarity, enforceability, and alignment with business objectives.
•Monitor vendor spend, contractual entitlements, and cost drivers, identifying cost optimization opportunities and potential financial risk exposure.
•Partner with HR COEs to support renewal strategy, back‑loaded risk assessment, and exit or transition planning for critical vendors.
•Provide clear escalation and reporting on commercial risks, issues, and key decision points to senior stakeholders.
•Support audits, reviews, and regulatory inquiries by providing commercial documentation, analysis, and risk assessments as required.
•Contribute to the ongoing enhancement of commercial governance practices, templates, and controls across the HR vendor portfolio.

Knowledge/Skills

·Strong knowledge and experience of commercial contracting, pricing models, and vendor financial management within a regulated environment.
·Working knowledge of Third‑Party Risk Management (TPRM) concepts and their intersection with contractual and commercial risk
·Ability to interpret and challenge complex contractual language, including financial, operational, and risk‑related provisions.
·Strong analytical skills with ability to assess financial exposure, renewal risk, and cost trends.
·Proven ability to partner effectively across HR, Legal, Procurement, Finance, Risk, and Compliance.
·Strong written and verbal communication skills, with ability to present clear, concise commercial risk assessments to senior management.
·High attention to detail, sound judgment, and ability to operate independently in a highly controlled environment.

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 MyHRHelp@ntrs.com

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.

Northern Trust

About Northern Trust

As a global leader in innovative wealth management, asset servicing and investment solutions, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity.

A globally recognized Fortune 500 Company in continuous operation since 1889, we’ve built a legacy of empowering clients to reach their goals with confidence.

Since our roots as a trust bank, we’ve grown to a global presence with more than 24,000 employees in more than 20 countries and across five core business units:

Wealth Management

Asset Management

Asset Servicing

Technology

Corporate Functions

Join a Team That’s Made for Greater

At Northern Trust, we refer to our employees as partners – with good reason. We understand that relationships are the key to our success. Here you’ll join a diverse and inclusive team of innovators with the drive to challenge the way things have always been done. Instead of choosing between a dynamic career and work-life balance, enjoy working with a team that supports your goals in the office and at home. We’ll help you get where you want to go without sacrificing what matters most to you.

As of December 31 2024, Northern Trust had:

$16.8

trillion assets under custody/administration

$13.3

trillion in assets under custody

$1.6

trillion in assets under management

$156

billion in banking assets

Stay connected with us:

NT Careers Facebook - https://www.facebook.com/ntcareers

Northern Trust Instagram - https://www.instagram.com/northerntrustcompany/

Industry
Finance & Insurance
Company Size
10,000+ employees
Headquarters
Chicago, Illinois
Year Founded
1889
Website
northerntrust.com
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