Overview
The Third Party Risk & Outsourcing Governance Lead will play a critical role in enhancing the governance framework for outsourcing and third-party risk within a global insurance organization. Reporting directly to the COO, the contractor will oversee compliance with industry regulations and strengthen operational resilience by managing supplier arrangements, including those involving AI technologies. They will work closely with various teams to ensure that third-party engagements are effectively monitored and controlled, providing valuable insights and recommendations to improve governance processes.
Responsibilities
- Lead the UK & Ireland outsourcing and third-party governance framework and policies.
- Oversee the management of the outsourcing and third-party inventory and classifications.
- Coordinate supplier risk assessments, monitoring, and service reviews.
- Challenge business owners and suppliers regarding performance and governance standards.
- Ensure compliance with relevant regulatory requirements.
- Collaborate with Risk, Compliance, and Information Security teams on third-party risks.
- Govern AI use cases and AI-enabled suppliers through effective assessments and controls.
- Produce executive-level management information and reports for committees.
Requirements
- Significant experience in third-party risk and supplier management within financial services.
- Strong knowledge of PRA SS2/21, DORA, and UK & Ireland outsourcing regulations.
- Expertise in supplier due diligence and ongoing oversight processes.
- Experience managing risks associated with AI-enabled third-party services.
- Proven governance and stakeholder management skills.
- Ability to provide constructive challenge in a confident and pragmatic manner.
- Highly organized with strong reporting capabilities.