Outsource & Third Party Manager

Third-Party Supplier Manager - Hybrid - £80,000

• Working for a leading Lloyd's Syndicate taking on a brand new role supporting the Head of Operations and Change Manager.
• 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

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.
• Experience working in the Lloyd's Insurance market is essential!