Third Party Risk Manager

MS Amlin Ltd; London; Hybrid; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a skilled Third-Party Risk Manager to lead the development of a comprehensive risk management framework. In this pivotal role, you will coordinate vendor risk assessments and collaborate with cross-functional teams to ensure compliance with regulatory standards. Your expertise will help foster strong vendor relationships and promote a culture of excellence in risk management practices. If you thrive in dynamic environments and have a passion for driving transformational initiatives, this opportunity is perfect for you.

Benefits

Competitive Base Salary

Performance Related Discretionary Bonus

28 Days Core Annual Leave

Pension Contributions

Private Medical Coverage

Flex Fund for Benefits

Life Assurance

Qualifications

• Extensive experience in procurement and third-party risk management.
• Strong analytical skills for conducting risk assessments.

Responsibilities

• Develop and implement third-party risk management frameworks.
• Conduct thorough risk assessments of third-party vendors.
• Monitor and report on third-party risk exposure.

Skills

Procurement Management

Risk Assessment

Analytical Skills

Communication Skills

Interpersonal Skills

Education

Bachelor's Degree in Business or Related Field

Certification in Risk Management

Job description

Third Party Risk Manager

Location: London

Contract Type: Permanent

Work Pattern: Full Time and Hybrid (2/3 days a week in the office)

About The Role

We are seeking a highly skilled Third-Party Risk Manager to develop and implement a best-in-class third-party risk management framework. This is a pivotal role in ensuring effective management and governance of third-party risk across external and intra-group supplier engagements, including outsourcing.

You will act as a trusted advisor to various Amlin Legal Entities and internal ABS stakeholders, communicating complex concepts clearly and without jargon. As the Third-Party Risk Manager, you will be responsible for coordinating vendor risk assessments, onboarding, in-service monitoring, regular due diligence in accordance with the framework, and preparing regular reports on TPRM matters.

Additionally, you will collaborate with cross-functional teams, including Legal, HR, IT, Risk Management, Compliance, and Finance, to support organizational goals and strategic initiatives. You will also continually improve procedures, tools, and controls to ensure compliance with regulatory standards and industry best practices for third-party risk.

By fostering strong relationships with vendors and promoting a culture of excellence, you will ensure MS Amlin's third-party risk management practices are both effective and compliant with industry standards.

What You'll Spend Your Time Doing

1. Develop and implement third-party risk management frameworks to ensure effective monitoring and mitigation of risks associated with external vendors and partners.
2. Lead the development of risk mitigation strategies, including contingency planning and incident response for third-party related risks.
3. Conduct thorough risk assessments of third-party vendors, evaluating their financial stability, compliance with regulations, and overall risk profile.
4. Collaborate with procurement, Information Security, Data Protection, and Legal Entities to ensure all third-party contracts include appropriate risk management clauses and compliance requirements.
5. Monitor and report on third-party risk exposure, providing regular updates to senior management and relevant stakeholders.
6. Stay updated on industry best practices and regulatory changes, ensuring the organization’s third-party risk management practices remain compliant and effective.
7. Foster strong relationships with third-party vendors, promoting transparency and proactive risk management.
8. Provide training and guidance to internal teams on third-party risk management policies and procedures, enhancing organizational awareness and capability.

You're Going To Enjoy This Job If You...

• Thrive in a dynamic environment where you can lead transformational initiatives and drive significant change within the Procurement function.
• Excel at building relationships and acting as a trusted advisor, communicating complex concepts clearly and effectively to various stakeholders.
• Have a passion for risk management, with a keen eye for identifying and mitigating third-party risks to ensure organizational stability and compliance.
• Enjoy collaborating with cross-functional teams, leveraging diverse expertise to achieve strategic goals and enhance overall business performance.

What We Need From You

• Extensive experience in procurement and third-party risk management, with a proven track record of leading transformational initiatives within a complex organization.
• Strong analytical skills, capable of conducting thorough risk assessments and developing effective risk mitigation strategies.
• Excellent communication and interpersonal skills, capable of acting as a trusted advisor and building strong relationships with internal stakeholders and external vendors.
• A collaborative mindset, able to work effectively with cross-functional teams including Legal, HR, IT, Risk Management, Compliance, and Finance to achieve strategic goals.

We are stronger together because of our diverse backgrounds and perspectives. Believe in yourself and click apply today!

What Can You Expect From Us?

• Competitive Base Salary
• Performance Related Discretionary Bonus
• Holiday: 28 days core annual leave, with the option to buy up to 5 additional days
• Pension: Minimum 2% employee contribution plus 7% MS Amlin contribution (9%), up to a maximum of 5% employee contribution plus 13% MS Amlin contribution (18%)
• Private Medical: Cover for yourself; family members/dependents can be added
• Flex Fund: £1,000 (pro-rated based on start date) for flexible benefits
• Life Assurance: 5x annualized base salary

We value diversity and are committed to creating an inclusive environment where everyone is respected and valued for their unique contributions. Join us in driving positive change and fostering an inclusive future.