Insurance Third Party Vendor Management
1 month ago
My client leading Lloyd's Market Insurance Underwiter based in the City - London
They are seeking a skilled Third Party Vendor Manager with experience delivering within an insurance business previously to join their team.
In this role, you will be responsible for overseeing and monitoring the goods, services, or activities provided by our third-party partners while ensuring compliance with our outsourcing and third-party policies with a strong focus on strengthening operational resilience.
Key Responsibilities:
- Develop, implement, and embed third-party vendor management policies and frameworks.
- Manage relationships with key third-party vendors critical to our business strategy.
- Maintain a central register of third-party vendor arrangements.
- Support the implementation and testing of a new contract management tool.
- Assist in the onboarding processes of third parties, ensuring due diligence and necessary approvals.
- Conduct initial materiality assessments in consultation with stakeholders.
- Review and compile 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 develop 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.
- Collaborate with the Operational Resilience Working Group to enhance operational resilience.
You MUST have experience managing vendor relationship, governance and op's resliance within an insurance company to be considered for this role.
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