Outsourcing and Third Party Vendor Manager

6 days ago

London, UK, United Kingdom SilverRock Bank Full time

At SilverRock, we our building a new bank. Our vision is to “Pioneer fairer financial outcomes by empowering lenders to deliver and enabling savers to prosper” We are doing this by building a unique and highly scalable data driven multi-asset bank through a partnership of ecosystems, specialising in the delivery of forward flow partnerships and portfolio acquisitions from non-bank lenders, alongside our own brand deposits.



Purpose of Role

As the Outsourcing and 3rd Party Vendor Manager, you will

  • Oversee the end-to-end management of outsourced services and third-party vendor relationships critical to our banking operations.
  • Work closely with various stakeholders, including technology, compliance, risk management, and finance teams, to ensure that our vendors meet performance, compliance, and strategic goals.
  • Your role will be crucial in optimising vendor performance, managing risks, and contributing to the overall success of our startup.


Key Accountabilities

Vendor Strategy and Management:

  • Identify, evaluate, and select third-party vendors and service providers that align with our strategic objectives and operational needs.
  • Project manage and support the carrying out of due diligence on all third party vendors in accordance with our policies and procedures
  • Negotiate and manage contracts with vendors, ensuring favorable terms, compliance with SLAs, and alignment with company standards.
  • Monitor and manage reporting and ongoing oversight in relation to our third party vendors in accordance with our policies and procedures

Performance Monitoring and Optimisation:

  • Establish performance metrics and KPIs to monitor and evaluate vendor performance regularly.
  • Conduct regular performance reviews and audits to ensure that vendors deliver high-quality services and meet agreed-upon standards.
  • Implement corrective actions and continuous improvement initiatives to address performance issues and enhance vendor relationships.

Risk Management and Compliance:

  • Identify and mitigate risks associated with outsourcing and third-party relationships, including operational, financial, and compliance risks.
  • Ensure that all vendors adhere to regulatory requirements, data protection standards, and internal policies.
  • Collaborate with legal and compliance teams to manage and resolve any contractual or compliance-related issues.

Stakeholder Collaboration:

  • Work closely with internal teams, including technology, operations, and finance, to understand their needs and ensure that vendor solutions meet these requirements.
  • Serve as the primary point of contact for all vendor-related issues and inquiries, facilitating effective communication and resolution.

Reporting and Documentation:

  • Maintain comprehensive documentation of vendor agreements, performance metrics, and risk assessments.
  • Prepare and present regular reports to senior management on vendor performance, risks, and strategic recommendations.



Key Required Skills

  • Minimum of 5 years of experience in outsourcing and vendor management, with a proven track record in the financial services or banking sector.
  • Strong knowledge of outsourcing and vendor management best practices, including contract negotiation, performance management, and risk mitigation.
  • Excellent analytical and problem-solving skills, with the ability to make data-driven decisions.
  • Proven ability to manage multiple vendors and projects simultaneously in a fast-paced environment.
  • Strong interpersonal and communication skills, with the ability to collaborate effectively with internal teams and external partners.
  • In-depth understanding of regulatory requirements and compliance issues related to the banking and financial services industry.



Benefits

  • Lifestyle and family friendly policies
  • Health Insurance for you and your spouse
  • 28 days Holiday Entitlement (plus bank holidays)
  • Life Insurance
  • Pension Contribution

Must be able to work in the UK without requiring Sponsorship.

No recruiters please

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