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Third Party Risk Professional

RDA People Limited

Posted on Jan 13, 2022 by RDA People Limited

City, London, United Kingdom
IT
Immediate Start
£55k - £60k Annual
Full-Time

Role purpose

To support the Head of Third-Party Risk in resolving the identified inherent and residual risks of using third parties, to drive compliance and ensure the UK&I business units have a robust controls framework across the third-party estate. Ensure the UK Outsourcing and Third-Party Risk Policy is fully up to date in line with regulatory and Group requirements.

The appointed candidate is responsible for operations risks, Internal Control/IFC compliance and internal audit issues/escalations. The role requires regular contact with senior managers within the UK Entities, UK Group, Paris and Auditors with the purpose of ensuring full compliance with all relevant regulations/policies as well as mitigation of any operational risks. It is the role-holders accountability to identify and make recommendations for improvements to Operations policies, the full set of departmental controls and their testing, management of any operational risks, audit or other escalations and full compliance with relevant regulations.

Compensation and Benefits

Competitive annual salary of £55000 to £6000
Annual company & performance-based bonus
Contributory pension scheme (up to 12% employer contributions)
Life Assurance (up to 10 x annual salary)
28 days annual leave plus Bank Holidays
Opportunity to buy up to 5 extra days leave or sell up to 3 days leave
Employee discounts
Gym benefits

The client is is proud to support the needs of our employees and as such understands everyone has individual work and home life responsibilities. We're happy to discuss flexible working arrangements for this role, should this be a requirement for you.

Key Accountabilities

  • Manage the annual review of the UK&I Group Outsourcing and Third-Party Risk Policy (GORP) collating feedback from all Business Units and key business functions.
  • Work closely with SMEs such as Operational Resilience, Information Security and other adjacent risk areas and produce regular reporting and monitoring of outsourcing and third-party risks across the UK&I, tracking any gaps through to closure, challenging and escalating where necessary.
  • Manage the co-ordination of Outsourcing and Third-Party Risk Forums and workshops - Create agendas, document minutes, chase up any actions etc.
  • Assist with the design and validation of any UK Third Party Risk controls. Identifying third party risk control gaps and proposing changes/improvements.
  • Conduct regular Third-Party due diligence/assurance activity.
  • Provide support on various strategic outsourcing related projects involving all business units on topics such as material vendor exit planning/testing, and UK Third Party data processors governance and oversight. Run and/or attend outsourcing and third-party risk workshops to enhance the risk culture across the business and encourage the sharing of best practice.
  • Lead the analysis of any new outsourcing/third party regulation and support audit or audit requests associated with outsourcing and third-party management.

Metrics

  • Minimum Control Expectations (MCE) reporting for UK strategic relationships in line with the Group Outsourcing & Third-Party Risk Policy (GORP).
  • Co-ordinate annual reviews of GORP, within defined timescales, considering feedback from all Business Units and key corporate functions. Update GORP in line with Group Standards and regulatory requirements.
  • Third Party Risk oversight and reporting. Assist in identifying, managing and reporting any key third party risks.
  • Supporting Group and other ad hoc third party risk requests.
  • Facilitate and deliver submissions to relevant Risk Committees and other Group or UK reporting requirements as and when required.
  • Contribute to other reports where appropriate ie Risk and Audit pack and supporting the Business Units with local reporting requirements.
  • Assisting with the monitoring and testing of outsourcing and third-party risk controls.
  • Support key third party initiatives across all Business Units such as exit planning and sub-contracting oversight to enhance the processes and create a framework to be used by all UK&I Business Units. Working closely with stakeholders across the business to implement any required changes.
  • Keep abreast of any new regulation and assess against the GORP highlighting any gaps to the Head of Third Party Risk.
  • Assist with any UK outsourcing or third-party audits and track actions through to closure.
  • Attend any workshops associated with outsourcing and third-party management.

Skills/Experience:

  • Strong communication and interpersonal skills
  • Proven influencing skill
  • Operational Risk management knowledge
  • Diplomacy
  • Ability to process, collate and present large volumes of data
  • Pragmatic approach to problem solving and issue resolution
  • Ability to work in a Matrix environment
  • Sound business acumen
  • Previous experience in a large organisation
  • Ability to deal at Senior Manager level
  • Understanding of FCA/PRA regulations and internal Group policies
  • IFC/SOX knowledge (preferred)
  • ITIL and ISO knowledge (preferred)
  • Understand and meet FCA/PRA requirements
  • Ensure legal compliance
  • Compliance with all Policies

Reference: 1461048818

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