Operational Risk Manager - Third Party Risk Management

Handelsbanken; Greater London; On-site; GBP 70,000 - 100,000; Full time

Job summary

Handelsbanken is seeking an Operational Risk Manager to join the UK risk team. The role focuses on developing and maintaining the Non-Financial Risk Management Framework (NFRF) and providing independent assurance on operational risk across the bank's operations.

You will establish risk tolerances, KRIs, and escalation thresholds for third party risk, challenging first-line assessments and delivering 2LOD/3LOD assurance reviews. Strong regulatory knowledge and stakeholder engagement are essential.

Qualifications

• Understanding UK and international third party risk regulations.
• Experience in third party risk management, controls and oversight in financial services.
• Experience in control testing or control assurance (2LOD/3LOD).

Responsibilities

• Develop and maintain the bank-wide Third-Party Risk Framework as a sub-framework of the NFRF.
• Establish KRIs and risk tolerances for third party risk.
• Provide second-line assurance reviews and testing on outsourcing arrangements.
• Ensure regulatory alignment with PRA and FCA rules.
• Build relationships with stakeholders to act as trusted adviser.
• Attend governance forums and provide training on framework components.

Skills

Regulatory knowledge

Third party risk management

Control testing

Communication skills

Stakeholder management

Teamwork

Proactive engagement

Influencing stakeholders

Financial services experience

Decision making

Job description

Job Introduction Handelsbanken is a relationship bank built on trust, long-term thinking and local decision-making. We provide bespoke banking and wealth management services to personal and corporate customers.

Job Introduction Handelsbanken is a relationship bank built on trust, long-term thinking and local decision-making. We provide bespoke banking and wealth management services to personal and corporate customers. Our decentralised model means decisions are made close to the customer, in our branches. Our central Functions teams play a vital role in supporting the branch network, providing the expertise, governance and infrastructure that enable branches to serve customers effectively and sustainably. This approach had underpinned our success for decades. Handelsbanken is independently recognised as one of Europe’s safest commercial banks, holds the strongest credit rating among its peers and is consistently ranked highly for customer satisfaction and relationship banking. Our culture is values-led, shaped by trust, respect, and long-term thinking. We empower our people to use their expertise, make confident decisions and build long-term careers. We look for people who share our long- term vision, want to grow and want to make a meaningful impact in their local community and with the Bank We also recognise that flexibility can support people to perform at their best, and that it looks different for everyone. While arrangements will depend on the requirements of the role and the needs of the business, we are open to having a conversation around what flexibility could look like for you. Check our Handelsbanken website for further information.

The opportunity

The Operational Risk Team has responsibility for operational risk controls within Handelsbanken UK, ensuring a comprehensive and objective view of all risks in the Bank’s business operations and providing independent assurance to the UK CEO that the business is identifying and managing risks adequately.

The Operational Risk Manager works within an experienced risk management team which is responsible for providing high quality analysis, advice, guidance and assurance on the management of operational risk to ensure the business complies with relevant policies, frameworks and regulatory expectations.

The team is responsible for the development and implementation of the Non-Financial Risk Management Framework (NFRF) and associated processes and tools. They are responsible for overseeing, reviewing and challenging risk assessments / risk management activities as well as promoting consistency and best practice in the application of the NFRF across the Bank. They are also responsible for undertaking control assurance, which is key in helping the business to understand its inherent exposure to risk and overall effectiveness of the control environment.

Key responsibilities

Role

• Framework & Policy Ownership : Develop and maintain the bank-wide Third-Party Risk Framework as a sub-framework of the NFRF and review / approve associated policies managed by 1LoD, ensuring alignment with regulatory changes and the bank's risk tolerance.
• Risk Tolerance & Monitoring : Establish and calibrate risk tolerances, Key Risk Indicators (KRIs), and escalation thresholds for third party risk. Work collaboratively with 1LoD to monitor and report third party risk exposure against management limits and Board risk tolerance, taking into account emerging risks and trends.
• Independent Challenge & Assurance : Provide rigorous 2LoD challenge to first-line (1LoD) risk assessments, materiality classifications, and initial supplier onboarding proposals. Execute independent second-line assurance reviews, deep dives, and targeted risk controls testing on high-risk and material outsourcing arrangements.
• Regulatory Compliance : Maintain ongoing alignment with PRA SS2/21 and FCA/PRA Operational Resilience rules (SS1/21), monitoring third-party impacts on important business services.
• Risk Culture : Build and maintain relationships with key business / other relevant stakeholders (i.e. Group, SMEs) to be a trusted advisor/partner.
• Operates in line with the Bank's Risk Management framework (including sub-frameworks) and relevant risk and compliance policies and procedures, ensuring appropriate and timely escalation of any concerns to their line manager.

Attend where required, governance and risk forums representing the Operational Risk Team on third party risk management matters; Provide advice, guidance and support on third party risk management to the 1LOD (business functions) across the Bank; Develop and provide training and awareness on third party risk management framework components, processes, tools and systems across the Bank.

What we’re looking for

• Demonstrate a sound understanding of the UK and International regulations relating to third party risk management
• Experience of third party risk management, controls and oversight in the Financial Services Industry (either within first line, second line or Internal Audit)
• Experience in the delivery and facilitation of control testing or broader control assurance experience (2LOD/3LOD)
• Demonstrate strong communication skills, both written and verbal including being able to translate risk matters to non-risk professionals in a clear or simple way
• Be a team player and be able to build and manager strong relationships with internal stakeholders
• Be approachable and also be proactive to engage with the business
• Be comfortable challenging and influencing stakeholders including senior management
• Balance the risk and reward and being prepared to make a decision / recommendation
• Provide an independent view of risks and be prepared to express them
• Work on their own initiative and enjoy the responsibility of leading and delivering outcomes
• Desirable to have a good understanding of Handelsbanken business operations and culture
• Work in an organised yet flexible manner and able to prioritise tasks efficiently

Why join Handelsbanken

We want everyone at Handelsbanken to feel supported, motivated, and able to do great work. That’s why, alongside brilliant colleagues, meaningful work and training and development opportunities, we provide a variety of benefits designed with your wellbeing in mind. In addition, there is a flexible benefits package with the key highlights detailed below.

Equal Opportunity

The Bank is deeply committed to embedding good equality and diversity practice into all of our activities. This is so that we are an inclusive, welcoming and inspiring place to work that encourages everyone to apply, regardless of socio-economic background, age, disability, pregnancy and/or parental status, race (including colour, nationality and ethnic or national origin), veteran status, marital and civil partnership status, religion or belief, sex, gender reassignment or sexual orientation.