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Third-Party Management Officer
Job Posted: 13 hours ago
Salary: £ 50,000 - 50,000 / Annum
Job Type: Permanent
Location: W1W, Oxford Circus, Greater London
Expire in: a month
Job Description
3M Resourcing Ltd are delighted to support an established bank with their hiring process for their next Third-Party Management Officer ( TPMO ).
Scope & Responsibilities
The Third-Party Management Officer is responsible for overseeing and managing all aspects of third-party relationships, including vendor onboarding, performance monitoring, compliance assessments, risk management, and contract administration. This role ensures that third-party engagements align with organisational policies, regulatory expectations (including FCA/PRA requirements), minimise risks, and maximise value. This includes ensuring compliance with SS2/21 and PS24/16, and supporting the bank’s operational resilience framework as it relates to third-party service provision.
Key Responsibilities:
Vendor Selection and Onboarding:
• Oversee the evaluation and selection process of third-party vendors and service providers.
• Ensure all third parties meet compliance, security, and performance standards during the onboarding process.
• Ensure that the due diligence process includes assessment of financial stability, business continuity arrangements, information security controls, and subcontracting arrangements, in line with the materiality of the service.
• Lead materiality assessments and escalate material outsourcing arrangements for internal governance review and regulatory notification, as required under SS2/21 and PS24/16.
Third-Party Management:
• Identify, assess, and mitigate risks associated with third-party relationships, including operational, financial, cybersecurity, and reputational risks.
• Conduct regular vendor risk assessments and due diligence.
• Maintain an up-to-date centralised third-party register, incorporating risk classifications, service criticality, contract status, and key controls.
• Ensure that risk assessments are periodically refreshed, especially for material outsourcers and high-risk third parties.
• Support the review of exit plans and substitution strategies for critical and important third-party services.
Compliance and Regulatory Adherence:
• Ensure third parties comply with applicable laws, regulations, and internal policies (e.g., UK DPA 2018 (GDPR), ISO 27001).
• Maintain up-to-date knowledge of regulatory changes affecting third-party relationships.
• Ensure third-party arrangements comply with FCA/PRA outsourcing and third-party risk management requirements, including SS2/21, PS24/16, SYSC 8 and 15A.
Performance Monitoring:
• Assist to develop and implement KPIs to measure vendor performance and ensure service level agreements (SLAs) are met.
• Work closely with internal stakeholders to address vendor performance issues. • Coordinate periodic third-party performance reviews, documenting results and triggering remediation plans where necessary.
• Monitor critical service providers against important business services and impact tolerances as part of the operational resilience framework.
Contract Management, Communication & Collaberation, Audit & Reporting, Continuous Improvement.
Please apply for a more detailed conversation and to receive the full Job description.
Knowledge & experience Required:
• Relevant degree or related educational qualification.
• Working knowledge of third-party management, vendor management, or procurement.
• A minimum of 2 years of experience in the field within a financial services institution.
• Knowledge of risk management practices and regulatory compliance.
• Strong analytical and problem-solving skills. • Excellent communication and negotiation skills.
• Proficiency in vendor management systems (VMS) and other relevant tools.
• Understanding of legal and contractual obligations.
• Familiarity with FCA/PRA rules including SYSC 8, SYSC 15A, PS24/16, and Supervisory Statement SS2/21.
• Possession of relevant professional certifications such as CTPRP (Certified Third Party Risk Professional), CRVPM (Certified Regulatory Vendor Program Manager), or certification/membership from CISP (Chartered Institute of Procurement & Supply) would be an added advantage.
This is an on-site role, located close to Oxford CircusBefore You Apply
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