Overview
The Third Party Management Specialist will play a crucial role in enhancing supplier governance, regulatory compliance, and the quality of third-party data in a UK financial services organization. This hands-on contract position will collaborate with various teams including Legal, Risk, and Security to improve the company's approach to third-party risk management ahead of a critical 2027 deadline. The role combines practical management with regulatory oversight to ensure effective third-party operations.
Responsibilities
- Review and maintain the accuracy of the third-party inventory.
- Assess supplier tiering, criticality, and materiality, identifying key outsourcing and ICT arrangements.
- Analyze contracts for FCA compliance and prioritize necessary remediation actions.
- Collaborate with cross-functional teams to enhance contractual and governance standards.
- Configure workflows and maintain records in the third-party management platform.
- Develop exit and substitutability assessments for critical suppliers, accounting for dependencies.
- Support the onboarding, renewals, and due diligence processes for third-party relationships.
- Ensure thorough completion of third-party assessments and documentation to meet regulatory standards.
Requirements
- Proven experience in third-party risk or outsourcing within UK financial services such as banking or payments.
- Strong hands-on experience in supplier assessments, risk reviews, and contract analysis.
- Knowledge of FCA SS2/21 and SYSC 8 regulations relevant to third-party arrangements.
- Experience in supplier tiering, materiality assessments, and contract remediation.
- Familiarity with third-party management platforms; experience with Gatekeeper is preferred.
- Understanding of third-party lifecycle management and operational resilience.
- Ability to work effectively with senior stakeholders across various business functions.
- Proactive ownership of projects with attention to detail in execution.