AM - LIO - Third Party Oversight Manager VP

M&GPrudential; Mumbai; On-site; INR 1,800,000 - 3,000,000; Full time

Job summary

M&G India, the digital hub for M&G, is seeking an experienced professional to lead end-to-end oversight of third‑party suppliers and asset managers in Mumbai. The role focuses on onboarding, ongoing monitoring, and exit/transition management, ensuring due diligence and regulatory compliance.

Responsibilities include day-to-day supplier oversight, risk assessment, ODD reporting, and maintaining supplier registers to support Solvency II, PRA, and other obligations.

Responsibilities

• Lead the end to end oversight cycle, onboarding third party suppliers and asset managers, with reviews and exit/transition management
• Ensure onboarding and life-cycle oversight aligns with third party financial crime due diligence and local rules
• Conduct day to day operational oversight of supplier relationships
• Maintain visibility of supplier performance, risk exposures, and SLA compliance
• Perform comprehensive ODD reviews of suppliers including investment managers and IT controls
• Carry out risk-based assessments to identify weaknesses and remediation needs
• Produce detailed ODD reports summarising findings, risks, and actions for senior stakeholders
• Ensure suppliers help the life company adhere to internal policies and regulatory obligations (e.g., Solvency II, FCA SYSC 8)
• Track and manage supplier risk events and ensure root-cause analyses and remediation plans are completed
• Maintain an up-to-date supplier register with accurate risk classifications

Job description

About M&G India We are M&G India, the strategic innovation and digital hub for M&G. Established in 2003, we have offices in Mumbai and Pune. Our teams work closely with colleagues across the Group worldwide to drive transformation, build digital capability, and support sustainable growth. By leveraging technology, AI, automation, and process excellence, we bring new ways of thinking to improve outcomes for both customers and colleagues. Grounded in a vibrant culture with strong foundations, we are central to how M&G is transforming as a business. About M&G Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions. Through telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

Key responsibilities

• Lead the end to end oversight cycle, including onboarding of third party suppliers and asset managers, conducting periodic suppliers reviews, ongoing monitoring, and exit/transition management
• Ensure, both at onboarding and throughout the life cycle of the relationship, oversight is performed in line with M&G’s third party financial crime due diligence requirements in addition to any local jurisdictional requirements
• Conduct day to day operational oversight of relationships
• Maintain visibility of supplier performance, risk exposures, and compliance against contractual obligations and service-level agreements (SLAs)
• Conduct comprehensive ODD reviews of all suppliers in line with LIO’s framework, including internally and externally appointed investment managers, covering operational capabilities, governance structures, risk management practices, IT systems, cybersecurity controls, business continuity, and financial stability
• Perform initial and ongoing risk based assessments to identify operational weaknesses and areas requiring remediation
• Produce detailed ODD reports that summarise findings, risks, and recommended actions for senior stakeholders
• Ensure suppliers enable the life company to adhere to relevant internal policies, frameworks as well as its regulatory obligations (e.g., Solvency II, PRA, FCA SYSC 8, outsourcing guidelines, operational resilience requirements),
• Track and manage supplier risk events, incidents, and near‑misses through to closure, ensuring suppliers provide root-cause analyses and remediation plans
• Maintain an up‑to‑date supplier register and ensure accurate risk classifications

We have a diverse workforce and an inclusive culture at M&G Global Services, regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

M&G is a leading international savings and investments business, managing money for around 4.6 million individual clients and more than 900 institutional clients in 38 offices worldwide. As at 31 December 2024, we had £345.9 billion of assets under management and administration.

Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.