Operational Risk Analyst - Third-Party Risk Management

Responsibilities - Support the EMEA Head of TPRM (Third-Party Risk Management) to embed the Bank’s outsourcing and third-party risk framework Identify opportunities to improve and streamline framework and processes Close working relationship with 1st line TPM colleagues responsible for the operationalisation of the TPRM framework and provide a review and challenge of the framework components Support the documenting of TPRM Policy, Framework and Procedure documents, ensuring they are up to date, fit for purpose and reviewed in line with guideline Support the ongoing development and enhancement of the TPRM framework Review and challenge of outsourcing determination, Inherent Risk Assessments, and other risk management components of the third-party risk (TPR) lifecycle Provide a holistic risk management review over any new/modified third party arrangements prior to onboarding focusing on any material residual risk and able to propose risk mitigations Support the contract lifecycle management and help in the development of meaningful key performance indicators (KPI) Oversight and review of monthly KPI’s/Metrics and support the production of monthly board packs Collate, review, and challenge monthly KRIs, assess and escalate risk issues to risk committees Participate in the development of exit strategy & plan. Support the testing of exit strategies/plans as part of BCM and/ or Operational Resilience exercise, including the development of third -party risk scenario events etc. Provide oversight of remedial actions and ensure timely resolution Periodic review and oversight of the third-party/ outsourcing inventory register, notify TPM Operations of any risk concerns Support and provide oversight over the TPRM related risk acceptance/ issues process, working closely with Operational risk team Provide oversight over the cyclical review process working closely with Procurement and TPM Operations Stakeholder management and support across the full TPR lifecycle Act as a coordinator between the EMEA entities/branches and head office, and support RMD insourcing Act as Subject Matter Expert (SME) in following best practices and processes for vendor compliance Support the third-party related change management process Supporting regulatory requests where necessary (i.e., for the outsourcing register) Participate in third party internal audits process and requests Required Skills and Experience - Experience in delivering within an investment bank environment Experience in supporting a similar TPRM function in the 2nd line Risk Management Department Working knowledge of regulations related to third party risk & operational resilience (EBA Outsourcing Guideline, DORA, FCA SYSC 8, PRA SS2/21 Outsourcing guideline) and be able to apply knowledge Understanding the “Three Lines of Defence” (3LoD) governance model Good knowledge of risk management, information security risk, internal audit, operational risk, legal/ compliance in the TPRM space Experience in writing policies, framework, and procedure documents Experience in managing working groups towards defined deliverables Effective communicator with excellent verbal and written communication skills Understanding of risk frameworks and their link to risk strategy & appetite setting Pay range and compensation package - £65,000 - 70,000

Location: The City, GB

Posted Date: 1/12/2025