Outsourcing and Third-Party Supplier Manager

Main Purpose of Job:

As the Outsourcing and Third-Party Supplier Manager, you will oversee the effective operation of the Outsourcing and Third-Party Management Framework, ensuring compliance with regulatory requirements and industry best practices in risk management.

Key Tasks:

• Maintain and enhance the framework for the oversight of Outsourcing and Third-Party Suppliers, ensuring continuous compliance with regulations.
• Manage the execution of the Outsourcing and Third-Party Supplier framework, including risk assessment, due diligence, and monitoring.
• Liaise with clients, suppliers, and internal functions to ensure adherence to due diligence and monitoring procedures.
• Implement minimum contract requirements for new and existing Outsourcing and Third-Party Supplier contracts.
• Handle regulatory and reporting on Outsourcing and Third-Party Supplier arrangements.
• Stay informed about regulatory developments and industry best practices, providing guidance to colleagues and clients.
• Prepare updates, reports, and dashboards for Boards and Committees, reporting on outsourcing and third-party supplier status and risks.

Job requirements:

• Experience in Third-Party Risk Management/Vendor Management/Procurement within Financial Services Operational Risk Management.
• Understanding of requirements within the Financial Services Industry, particularly PRA requirements on outsourcing and third-party risk management (SS2/21).
• Awareness of operational resilience industry standards and testing, contingency planning, and resiliency requirements for Third-Parties is advantageous.
• Knowledge of operational practices in the Lloyd’s market is desirable.
• Demonstrable experience building effective relationships with internal stakeholders and clients.