Third Party Risk Manager - United Kingdom - Dnevo Partners Limited

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Enabling organisations to overcome Compliance, Risk & Reg. challenges

Our client, a brilliant metals & energy commodities business is seeking to hire a candidate for this newly created department within the business. They have identified a need for a Third-Party Risk Manager. This is a pivotal role requiring first line of defence experience and the jobholder will be responsible for the implementation and embedding of the Third-Party Risk Management Framework. Furthermore the incumbent will need an extensive knowledge of both procurement and supplier management to lead on the remediation activity relating to Procurement and Supplier management, as part of the company's Global Strategic Operational Resilience Road Map.

Role Scope:

· Lead on the remediation activity relating to Procurement and Supplier Management, as part of The Company's Global Strategic Operational Resilience & DORA Road Map, across The Company's entities.

· Responsible for the implementation and embedding of the Third-Party Risk Management Framework, Procurement and Supplier Management Policies.

The Third-Party Risk Manager role is for a professional with subject matter expertise dedicated to actively employ and strengthen the key components of Company's Third Party Risk Management Framework. By working in partnership with key stakeholders to ensure there is a structured, coordinated Procurement and onboarding process in place and an effective Supplier Management Lifecycle with the following key deliverables and accountabilities:

· At all times adhere to the Conduct Rules as set out in the Senior Manager & Certification Regime (SMCR).

· A principal SME who can provide expert analysis and guidance across Company's entities.

· Custodian of the central Third-Party Register/repository, ensuring it is kept up to date (frequently reviewed) and key information has been captured.

· Responsible for the implementation of the TPRM framework and the delivery of targeted training and awareness to support the adherence to the policy requirements.

· Policy owner for Procurement and Supplier Management and maintain full oversight as policy owner.

· Responsible for embedding the Procurement and Supplier Management Operating Standards to provide the first line with the necessary skills and knowledge to execute their responsibilities effectively.

· Design and implement supplier assurance.

· Lead any 'uplift' activities required (due diligence and contractual requirements).

· Establish a mechanism or process for identifying fourth- and fifth-party suppliers and capture them centrally.

· Responsible for the identification, monitoring, analysis, and challenge of operational risks for third parties including but not limited to vendors, inter-affiliate service provision and other third-party partnerships. Providing expert judgement on Company's third-party risk exposures against regulation and provide advice on material risk management decisions.

· Develop and implement qualitative/quantitative KPI/KRI's, to provide data driven reporting and analysis to management and Operational Resilience Committee.

· Third Parties which are critical/important agree SLA metrics and KPIs (process monitoring) for reporting – to ensure TPs are delivering their contractual and control obligations.

· Risk assess Supplier concentration risk to identify any additional vulnerabilities / gaps. Assess how IT vendors/suppliers are managed and apply a risk-based approach to implement regular monitoring of third-party performance against SLAs - those 3rd parties who provide or contribute to IBS's would be priority 3rd parties.

· Work with business stakeholders to develop Exit Strategies for critical Third Parties.

· Work with Contract Managers to obtain and review Business Continuity Plans for material/critical Third Parties and to ensure recovery time objectives align to business requirements. Where there is a misalignment risk assess and support the respective remediation

· Create severe but plausible scenarios by working with service owners / SMEs and perform them with our key third parties to ensure their responses align to their IBS impact tolerances.

You're going to enjoy this job if you:

• Flourish in fast paced, dynamic environments where you can shape solutions and influence outcomes.
• Foster an environment of accountability, constructive challenge and continual improvement.
• Enjoy advocating, creating buy-in and engagement across a range of views and stakeholders.

Skills & Experience:

· Demonstratable experience in third-party risk management roles.

· Practical experience in the development of TPRM framework and implementation.

· Extensive knowledge of outsourcing and TPRM regulations, e.g. PRA, FCA, EBA, DORA

· Experienced in the production of Exit plans.

· In-depth understanding of TPRM lifecycle and assessment lifecycle.

· Ability to address risks using standardised and consistent methodologies.

· Strong verbal and written communication skills for stakeholder interaction with the ability to present with impact and influence.

· Strong organisational skills (project management skills a plus).

· Pragmatic and flexible approach.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Other

• Industries

  Securities and Commodity Exchanges and Financial Services

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