As a Third Party Vendor Manager, your primary responsibility is to oversee and monitor the goods, services, or activities provided by our third-party partners and any risk arising. Your role involves ensuring compliance with our outsourcing and third-party policies
Additionally, you will collaborate with Operational Resilience Working Group
Duties and Accountabilities:
- To establish, manage and support the development, implementation and embedding of third-party vendor management policies and framework within the business
- To manage relationships with key third-party vendors that are of particular importance to the implementation of the business strategy
- Oversee and maintain a central register of third-party vendor arrangements
- Support the implementation and testing of a new contract management tool
- Support the onboarding processes of third parties, ensuring due diligence and necessary approvals
- Conduct initial materiality assessments in consultation with relevant stakeholders
- Review and collate supplier/materiality questionnaires
- Design and implement monitoring and reporting processes for various groups and internal Committees
- Prepare due diligence reports with recommendations for internal Committees
- Complete required reporting on supplier performance and third-party risks.
- Collaborate with Business Process Owners to produce Exit Plans.
- Monitor third-party relationships, identify risks, and coordinate mitigation efforts
- Support the Legal function in managing new and renewal contracts
- Liaise with the Risk function to escalate and manage supplier risk-related issues.
Key Technical Skills, Knowledge, and Qualifications:
- Experience in Third-Party Risk Management/Vendor Management/Procurement within Financial Services Operational Risk Management.
- Understanding of Financial Services Industry requirements, particularly PRA requirements on outsourcing and third-party risk management (SS2/21).
- Awareness of operational resilience industry standards and requirements.
- Experience building effective relationships with internal stakeholders and clients.
- If you are ready to make a significant impact in risk management and compliance, apply now and join us in shaping the future of financial services.
Sector:
- General Insurance
