Vendor Management & Contract/Commercial Governance

Northern Trust (Northern Trust) · Other

All Vendor Management jobs
Asset Management
Limerick, Ireland
Full time

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.

Summary

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.

Work Authorization

Applicants must have the right to work in Ireland at the time of application and for the duration of employment.

Please note that Northern Trust is unable to provide employment permit sponsorship for this role. This includes Critical Skills Employment Permits, General Employment Permits, Intra-Company Transfer Employment Permits, Stamp 1G permissions, and other employment permits under Irish immigration frameworks.

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 [email protected], or alternatively you can discuss your individual requirements with the recruiter you are working with.

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