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Third-Party Risk Oversight Manager
2 months ago
Opportunity Overview
The Third-Party Risk Oversight Manager will take the lead in implementing and managing the Third-Party Supplier Risk Management Framework, ensuring the effective execution of the Third Party Risk Management Program. This role is pivotal in responding to the dynamic needs of the business while facilitating supplier due diligence and ongoing control management through collaboration with internal teams and external suppliers.
This position involves assessing new suppliers, identifying and documenting any deficiencies in their security controls, and ensuring that all residual risks are recorded and managed appropriately. The role also requires that any necessary contractual obligations for ongoing security assurance are established prior to the initiation of business changes.
Key Responsibilities
- Lead the operation and management of the Third-Party Supplier Risk Management Framework and oversee the daily Third Party Risk Management Program.
- Evaluate new suppliers and determine the necessity for third-party security assessments.
- Identify and document gaps in supplier security controls to assess any residual risks to the organization’s services or data.
- Ensure all residual supplier risks are recorded and managed, with appropriate business sign-off before any changes go live.
- Incorporate relevant security obligations into contracts for ongoing assurance.
- Establish and maintain relationships with third-party security and account teams for continuous contract assurance.
- Assist in conducting materiality assessments and reporting for potential and existing suppliers, facilitating their segmentation and compliance monitoring.
- Maintain accurate documentation and records in designated systems, ensuring they are updated regularly.
- Support business stakeholders and suppliers in developing comprehensive risk management plans.
- Collaborate with suppliers to identify and mitigate risks, focusing on critical suppliers.
- Keep an updated record of all suppliers accessing, storing, processing, or providing critical services, including a risk register.
- Deliver high-quality risk reports with actionable insights to aid senior business leaders in making informed risk decisions regarding supplier usage.
- Monitor ongoing supplier compliance based on their risk profiles.
- Work closely with relevant business units, legal, and procurement teams to ensure third-party risks are effectively managed throughout the supplier lifecycle.
- Assist with Business Continuity Planning related to Third-Party Risk Management.
- Participate in key business forums relevant to Third-Party Risk Management.
Qualifications for Success
- BA/BS degree or equivalent experience in Information Security or Risk Management.
- Professional certifications such as CISSP, CISA, CRISC, IRM, or CTPRP are advantageous.
Experience Required
- Strong understanding of Third-Party Risk Management practices and strategies.
- Experience in supplier/vendor management, category management, or business development.
- Proven track record in developing or maintaining risk policies related to suppliers.
- Experience in IT audit/risk management, particularly in managing technology risk and compliance.
- Familiarity with ISO standards concerning information security and business continuity.
- Expertise in information security risk management processes and frameworks.
- Ability to conduct interviews with suppliers to gain insights into their risk management practices.
- Strong relationship-building skills with both internal and external stakeholders.
- Knowledge of regulatory frameworks, particularly in the Financial Services sector.
Why Join Us?
At The Openwork Partnership, we are a dynamic and ambitious organization committed to investing in our employees. We strive to provide a supportive environment that fosters personal and professional growth, enabling our team members to reach their full potential. Our culture is recognized as one of the Best 100 Large Companies to work for, reflecting our dedication to inclusivity and work-life balance.
We offer a modern workplace with extensive development opportunities and a competitive benefits package, including a competitive salary, an industry-leading annual bonus, enhanced pension contributions, critical illness cover, income protection, and a variety of flexible benefits.
