About the job
Join our team as an Associate in the Controls and Third Party Management department, where you will play a vital role in supporting the Senior Associate Director. You will assist in maintaining and implementing the Third-Party Risk Management governance framework while ensuring compliance across the organization.
- Facilitate the implementation and upkeep of the group’s Third Party Risk Management governance framework, focusing on all third-party provider engagements, including outsourcing arrangements. Conduct ongoing reviews to assess effectiveness in identifying, mitigating, and reporting outsourcing risks that may affect both clients and the business.
- Act as the main point of contact for various stakeholders, including:
- Business owners involved in third-party provider relationships.
- Internal clients and stakeholders for inquiries related to Third Party Management (TPM) and provide necessary guidance and training according to TPRM policies and procedures.
- Parties involved in third-party engagements as required.
- Assist in conducting risk assessments and due diligence for all third parties onboarded by the group, while supporting business owners throughout the entire TPM lifecycle, which encompasses onboarding, ongoing monitoring, amendments, and terminations.
- Support continuous monitoring and periodic reviews of third-party arrangements (including intra-group), performing onsite inspections and evaluations of all new engagements while maintaining comprehensive records of oversight activities.
- Identify and address third-party management issues and risk trends, particularly regarding outsourcing regulatory requirements, at the earliest possible opportunity. Collaborate on remedial actions and implement best practices for resolution.
- Contribute to maintaining the group’s records of Third-Party Providers, alongside regulatory-specific registers (e.g., DORA, CBI Outsourcing), including drafting and disseminating documentation for assessments and monitoring activities.
- Monitor third-party performance and risk metrics, ensuring adherence to contract obligations and service-level agreements.
- Support ongoing enhancements to third-party data quality and internal controls.
- Contribute to the development of efficient third-party management processes that bolster the TPRM governance framework.
- Assist in the preparation of reports for the Outsourcing and Risk Committees and Boards of outsourced service receivers on the governance framework for third-party management.
- Participate in client due diligence, RFPs, or external third-party provider assessments as necessary.
- Ensure that Third-Party Risk Management (TPRM) policies and procedures comply with regulatory standards and stay updated with evolving regulations across relevant jurisdictions, coordinating with Compliance, Operational Risk, and internal/external audit teams to fulfill group and regulatory requirements.
