Are you passionate about managing third-party risks and ensuring compliance within the banking industry? Our client, a leading financial institution, is seeking a talented and experienced Third Party Risk Steward to join their team. As the Third Party Risk Steward, you will have the exciting opportunity to oversee and implement a comprehensive third-party risk management framework, ensuring regulatory compliance and minimising potential risks.
Responsibilities:
Develop, implement, and maintain a robust third-party risk management framework aligned with regulatory requirements and the organisation's risk appetite.
Lead the risk assessment process for new and existing third-party relationships, evaluating financial, operational, cybersecurity, and compliance risks.
Conduct due diligence on third-party vendors during the onboarding process, including background checks, financial stability assessments, and cybersecurity evaluations.
Monitor key risk indicators (KRIs) and performance metrics to ensure vendors comply with contractual obligations and continuously assess third-party risks.
Collaborate with internal audit, compliance, and relevant departments to conduct periodic reviews of third-party relationships.
Oversee incident response related to third-party vendors, including breaches, service disruptions, and non-compliance issues. Lead post-incident reviews and develop corrective action plans.
Collaborate with procurement, legal, and other departments to ensure third-party contracts include robust risk management clauses.
Support the ongoing management of third-party relationships, including performance reviews, contract renewals, and terminations.
Develop and deliver training programmes on third-party risk management for employees involved in vendor selection, management, and oversight.
Promote a culture of risk awareness within the organisation, emphasising the importance of managing third-party risks.
Provide insights and recommendations on third-party risk issues to senior management, acting as a trusted advisor.
Requirements:
In-depth knowledge of third-party risk management practises, regulatory requirements, and industry standards.
Proven track record in developing and implementing third-party risk management programmes.
Strong understanding of vendor lifecycle management and risk assessment techniques.
Excellent leadership, team management, and project management skills.
Strong analytical, problem-solving, and decision-making abilities.
Exceptional communication and interpersonal skills, with the ability to influence and engage stakeholders at all levels.
Proficiency in risk management software and vendor management tools.
Join our client's dynamic team and make a significant impact in managing third-party risks within the banking industry. Apply today and unleash your potential.
LHH is an employment consultancy that believes in talent, not labels. It is important to us that we run inclusive recruitment processes to support candidates of all abilities and encourage applicants of all backgrounds and perspectives to apply. LHH is committed to building an inclusive, supportive environment to enable candidates to explore the next steps in their careers. If you require reasonable adjustments at any stage, please let us know and we will be happy to support you.