Strong knowledge and experience of commercial contracting, pricing models, and vendor financial management within a regulated environment.
Working knowledge of Third-Party Risk Management 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 Human Resources, 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.
Applicants must have the right to work in Ireland at the time of application and for the duration of employment.
Responsibilities
Provide commercial oversight for Human Resources vendor contracts, including coordination of negotiations, renewals, amendments, and terminations in partnership with Human Resources Centers of Excellence, Procurement, and Legal.
Ensure commercial terms appropriately address financial, operational, regulatory, and data protection risk, in alignment with Third-Party Risk Management standards and internal policies.
Review and maintain pricing models, fee structures, service-level agreements, 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 Human Resources Centers of Excellence 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 Human Resources vendor portfolio.
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.
Northern Trust expects 500 basis points or more of operating leverage for full-year 2026, after posting 600 basis points of positive operating leverage in the third quarter. Management said the gains are sustainable and stem from a multi-year reorganisation around a capability-based operating model.
Chief financial officer Dave Fox will retire after the first quarter of 2027. The company announced a new $3.5 billion share repurchase authorisation.
Results included a $34 million pre-tax gain from selling its guardianship services business and a $14.7 million gain from the second Visa exchange offer. It also built a $5 million reserve after a commercial real estate charge-off.
In the first quarter of 2027, Northern Trust plans to convert six Northern Funds, holding about $33 billion in assets, into ETFs.
UBS transfers former CS fund administration businesses to Northern Trust.
The major bank UBS is transferring Credit Suisse's former fund administration businesses in Switzerland and Luxembourg to Northern Trust. It is thereby expanding its collaboration with the US financial services provider.
06.10.2026 03:05
The Swiss and Luxembourg UBS Management Companies would also expand their existing fund administration agreement with Northern Trust to investment funds for which UBS currently still provides this service, UBS announced on Thursday. UBS itself would withdraw from the fund administration business.
The transaction is expected to close in the second quarter of 2027. According to the information, the migration of fund administration services to Northern Trust is to be implemented over a period of two years.
UBS had already sold its Swiss and Luxembourg fund administration business for traditional investments to Northern Trust in 2017 and at the same time entered into a long-term service agreement. The CS fund administration business was integrated into UBS in the course of the CS takeover in 2023.
Simplification of the Luxembourg company.
At the same time, UBS wants to simplify the operating model of its Luxembourg Management Company, the statement continues. It wants to focus there primarily on the servicing of in-house funds.
Universal Investment has been selected as the preferred external fund company. UBS thereby wants to ensure a long-term solution for its white-labelling clients in Luxembourg.
Northern Trust Wealth Management continues Northeast Region expansion with two Senior appointments.
Published on 10/05/2026 at 08:06 am EDT
Business Wire
Northern Trust Wealth Management has appointed Beth Emswiler and Andrew Borner as Senior Managing Directors in the Northeast Region. Emswiler is based in New York, while Borner is based in Greenwich, Connecticut, strengthening the firm's investment capabilities and client leadership in both markets.
The appointments build on Northern Trust's recent hiring momentum, following the expansion of its Family Office Solutions team in New York and the addition of Senior Relationship Managers Gloria Fieldcamp and James Le Rose.
"Clients expect us to understand both the complexity of substantial wealth and the personal goals it supports," Northeast Region President Katie Nixon said. "Beth brings considerable investment experience, while Andrew has spent his career earning the trust of families. Together, they will help us bring the full breadth of Northern Trust to more clients."
Emswiler joins Northern Trust from Citi Private Bank, where she served as head of investments for Metro New York and led investment solutions for ultra-high-net-worth clients and family offices. Her more than three-decade career includes leadership roles across private banking, equities, sales and trading, capital markets and investment advisory.
Borner brings more than 30 years of experience and most recently served as BNY's market president for Connecticut and Long Island. He was responsible for new business development and worked directly with individuals, families, trusts and foundations to develop and implement comprehensive investment and wealth plans.
Northern Trust Wealth Management is a premier private bank serving affluent individuals and families, family offices, foundations and endowments, and privately held businesses. Northern Trust Wealth Management, which combines deep expertise with innovative technology and service excellence, had US$534 billion in assets under management as of June 30, 2026. The Northern Trust Company is an Equal Housing Lender. Member FDIC.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261005894356/en/
(C) Business Wire -
2026
CORRECTING and REPLACING Northern Trust announces Chief Financial Officer transition.
* 3 hrs ago
Please replace the release with the following corrected version due to multiple revisions.
The updated release reads:
NORTHERN TRUST ANNOUNCES CHIEF FINANCIAL OFFICER TRANSITION
Northern Trust Corporation announced today that Dave Fox, Chief Financial Officer, has announced his retirement after a long and distinguished career in financial services. Fox intends to remain in his role through the end of the first quarter of 2027 to support a thoughtful and orderly transition.
Northern Trust plans to conduct a comprehensive internal and external search for its next Chief Financial Officer. During this time, it is expected that Fox will continue to lead Finance and work closely with Michael O'Grady, chairman and chief executive officer, and the leadership team to help ensure continuity across the company's financial, regulatory, investor and strategic priorities.
"Dave has been a trusted and valued leader whose judgment, discipline and financial stewardship have strengthened Northern Trust," said Michael O'Grady, chairman and chief executive officer. "He has played an important role in helping advance our strategy, support our clients and position the company for long-term success. We are grateful for Dave's continued leadership of Finance through this transition as we conduct a search for his successor."
Since joining Northern Trust in 2012, Fox has made important contributions across the firm. As Chief Financial Officer, he has overseen Northern Trust's global financial strategy, functions and operations. Earlier, as President of Global Family and Private Investment Offices and Executive Vice President and Head of the Americas for Corporate & Institutional Services, he helped advance important wealth management and institutional businesses, bringing focus to complex client needs, strengthening business performance and supporting the company's continued growth and competitiveness.
Before joining Northern Trust, Fox spent more than 25 years at JPMorgan in New York, London and Chicago, where he served in various leadership roles. Fox holds a Bachelor of Science in Foreign Service from Georgetown University and a Master of Business Administration in Finance from Columbia University's Graduate School of Business. He is a Life Trustee and former Chair of the Board of Trustees for the Goodman Theatre in Chicago and is a member of the Commercial Club of Chicago.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit Mycarrollcountynews on northerntrust.com. Follow Mycarrollcountynews on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
Media gallery
Northern Trust Wealth Management expands Family Office Solutions team in New York.
NEW YORK - Northern Trust Wealth Management is expanding its Family Office Solutions team in New York with the addition of Robert Ludricks III as Managing Director, Northeast Region, and Olof Akesson as Investment Director.
Family Office Solutions provides ultra-high-net-worth families with institutional-grade capabilities and a dedicated team to help manage the complexities of multigenerational wealth. Built for sophisticated clients whose circumstances evolve but whose priorities endure, the flexible model coordinates investment strategy, fiduciary oversight, consolidated reporting, philanthropic advisory, family governance, risk management and lifestyle support.
"Families with significant wealth increasingly face decisions that cut across their businesses, investments and long-term plans," Northeast Region President Katie Nixon said. "Bob and Olof bring complementary experience and strengthen the advice and services we offer entrepreneurs, business owners and multigenerational families in New York and across the region."
Ludricks has more than 35 years of experience advising clients on investment management, wealth planning and fiduciary matters. He most recently served as Managing Director and Senior Relationship Manager at Brown Brothers Harriman. Previously, he spent nearly two decades at Bessemer Trust in senior advisory and leadership roles.
Akesson's background spans more than 20 years in private markets, investment banking and client relationship management. He has spent the past decade advising single family offices, most recently as Managing Director at KABR Group. He previously held senior business development and sales leadership roles, including Managing Director at Benefit Street Partners, as well as positions at J.P. Morgan and HSBC.
Northern Trust Wealth Management is a premier private bank serving affluent individuals and families, family offices, foundations and endowments, and privately held businesses. Northern Trust Wealth Management, which combines deep expertise with innovative technology and service excellence, had US$534 billion in assets under management as of June 30, 2026. The Northern Trust Company is an Equal Housing Lender. Member FDIC.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation.