Third Party Risk Manager

Full Job Description

Leading Commodity and Trading specialists seeking a Third Party Risk Manager to join their small and dynamic team in a newly formed role.

Key Responsibilities

• Lead on the remediation activity relating to Procurement and Supplier Management, as part of the firm’s Strategic Operational Resilience & DORA Road Map.
• Responsible for the implementation and embedding of the Third-Party Risk Management Framework, Procurement and Supplier Management Policies.
• Actively employ and strengthen the key components of the Third Party Risk Management Framework.
• 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:
• 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).
• 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 third-party risk exposures against regulation and provide advice on material risk management decisions.
• 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
• Work with business stakeholders to develop Exit Strategies for critical Third Parties.

Skills/ Experience Required

• 5+ years 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).