Operational Risk - Vendor / 3rd Party Outsourcing Risk Manager

  • £70,000 to £80,000 + Benefits and Bonus
  • London, England, United Kingdom London England GB
  • Permanent, Full time
  • Maxfield Search
  • 02 Jul 18 2018-07-02

Our client is a leading global banking group, looking for a senior Operational Risk professional with experience managing vendor and out-sourced relationships from a OpRisk Management perspective. The ideal candidate will take the role as a thought leader in the improvement & development of the relevant areas of the current Operational Risk Framework as well as conducting Third Party Risk assessments on all outsourced providers and vendors. You will have hands on experience in a similar Operational Risk role, demonstrate strong knowledge in this field and posses excellent stake-holder and relationship management skills.

Role description:

Based within the highly regarded Operational Risk function, this is a key role with strategic responsibility for elements of designing, building, implementing and embedding operational risk best practice within the Bank.

Key Responsibilities

  • Be a thought leader for Operational risk relating to vendor risk management, monitoring and reporting of third-party relationships for the bank.
  • Collaborate to maintain oversight and management of an effective vendor risk management program for direct or indirect vendors of the banks.
  • Write risk reports and work with vendors to implement remediation responses
  • Ability to play a key role in developing a new and improved Operational Risk framework relating to the 'Outsourcing process'
  • Provide critical review of all third party and intra-group arrangements, risk policies and procedures, designations, and risk management analysis.
  • Ability to assess external operational risks emanating from current and prospective third (and fourth) parties, determine impact to the business' risk profile and to propose program and framework enhancements.
  • Capability to complete detailed risk assessment gap analysis schedules and prepare formal documentation for submission to Regulatory Authorities.
  • Play a key role in the Quality Assurance process by reviewing 1LOD ongoing monitoring and management of third party performance, and tracking the timely resolution of mitigating action raised from 2LOD reviews.
  • Key focus on reporting performance failures and assessing data sources to identify and foster cultural shifts in the management of such arrangements.
  • Assessment of various data sources, metrics and program activities in order to determine material concentration risk considerations.
  • Strong ability in preparing reporting for and presenting to relevant risk management and internal governance structures.


  • Experience of outsourcing a prerequisite, in particular the oversight of Third Party Risk Management and subsidiary businesses within the group
  • Strong analytical skills combined with sound knowledge of operational risk tools and best practices
  • Relevant qualifications eg CFA, FRM or CPA advantageous but not essential.
  • Demonstrate experience as capable of excellent people leadership skills in maintaining good business relationships within the business units and across the corporation
  • Strong abilities in communicating the need for change and coming up with effective ways to bring about process improvements
  • Strong project management skills
  • Excellent communication skills, both written and spoken/
  • Ability to use initiative and influence a variety of stakeholders across all levels of the business
  • Excellent analytical skills, with the ability to present detailed analysis in a clear and concise manner
  • Strong proficiency with relevant project tools (MS Project, Excel, Visio)