Overview
In this role, the Project Manager will collaborate with business stakeholders to design and implement a governance framework for outsourcing and third-party risks within the insurance sector. The contractor will leverage their expertise in business analysis and project management to deliver structured processes, ensuring compliance with applicable regulations and best practices. The position focuses on establishing a comprehensive oversight strategy and documentation standards related to third-party engagements.
Responsibilities
- Collaborate with business stakeholders to design and implement a governance framework for third-party risk management.
- Gather requirements from various stakeholders, including Risk, Compliance, Information Security, and Operational Resilience.
- Map current-state processes and translate requirements into structured governance policies.
- Develop and maintain an outsourcing inventory and assist in classifications and approvals.
- Conduct supplier and third-party risk assessments including due diligence procedures.
- Implement ongoing oversight mechanisms for third-party relationships.
- Ensure compliance with relevant regulations and frameworks.
Requirements
- Demonstrated experience delivering governance, risk, or controls frameworks in the financial services sector, with exposure to insurance.
- Strong toolkit in business analysis and project management, including process mapping and stakeholder engagement.
- Familiarity with relevant regulations, specifically PRA SS2/21, FCA, and DORA.
- Experience with supplier or third-party risk assessments, particularly involving AI-enabled services is preferred.