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Third Party Risk Analyst

2 months ago

London, United Kingdom Procurement Heads Full time

Operating within the reinsurance market, this business has a strong reputation for innovation and holds a global presence in six countries on four continents.

Having seen another strong year of profitability, this business is continuing to grow its newly established Procurement and Outsourcing (P&O) team.

In this newly created role, as part of a team of 5, you will work with the Head of P&O on the design and implementation of end-to-end Third Party Risk Management (TPRM).

This is a great opportunity for someone with an understanding of TPRM to step into a role with broad scope and influence on the future of TPRM within the business.

Given the team is fairly new and small in size, you will get brilliant exposure to senior stakeholders and the opportunity to work closely with a high-performing team.

The working pattern will be a hybrid work arrangement with 2-3 days per week spent in their modern central London offices.

Responsibilities:

  • Support the Head of Procurement & Outsourcing in developing and maintaining the TPRM policy and strategy
  • Develop appropriate due diligence process for suppliers, escalating identified risks, and ensure information is kept up to date
  • Attend Service Reviews for high-risk third parties and ensure that TPRM is being effectively governed
  • Support the configuration of a TPRM solution (Workday Strategic Sourcing) and its implementation to help achieve a best-in-class TPRM model
  • Monitor expenditure with external service providers and provide reporting to the Head of Procurement & Outsourcing, internal stakeholders, and our external service providers

Skills & Experience:

  • Knowledge of Third-Party Risk Management within the financial services industry
  • A good understanding of the inter-dependency between TPRM, Legal, Compliance, Risk, Procurement, Finance, and other teams
  • Knowledge of regulation and legislation in the TPRM space, particularly within the financial services industry
  • Exceptional cross-functional stakeholder management skills
  • Strong negotiation and conflict resolution skills
  • Understanding of vendor management, P2P and vendor on-boarding processes
  • Practical experience in supplier relationship management, vendor management, procurement transformation

Benefits

  • Up to £55,000 salary
  • 10% bonus
  • 10% non-contributory pension
  • 8x life assurance