Third Party Risk Management Lead

Are you interested in a role to build the foundations of the third-party risk management and supplier relationship programme for a dynamic and growing bank? We are currently looking for a passionate Third Party Risk Management Lead who will be an integral part of the procurement team who will partner with our key business owners and suppliers.

About the team
The Procurement and Outsourcing department play a critical role in ensuring the smooth operations of Banking Circle. As the bank is globally expanding into new jurisdictions and as the financial industry continuously evolves with regulations such as the Digital Operational Resilience Act (DORA) and Corporate Sustainability Reporting Directive (CSRD), the Third Party Risk Management Lead will play an pivotal role in developing, implementing and enhancing the bank’s third party risk management and digital operational resilience.
The Procurement & Outsourcing department is responsible to support the business to ensure that the relationships with third-party service providers are managed and that they comply with relevant regulations and internal policies. This includes conducting comprehensive risk assessments, developing and implementing effective risk mitigation strategies, and monitoring vendor performance, risk, and resilience. The department also plays a key role in ensuring that the firm is in control of its outsourcing partners and can demonstrate compliance to clients, auditors, and regulators. This involves staying up to date with the latest regulatory developments and industry standards and adapting processes and procedures accordingly.
Overall, the department is responsible for ensuring that bank’s third-party relationships contribute to its overall success while meeting the highest standards of operational resilience in the digital era and meeting our financial objectives.

About the role
As a Third Party Risk Management Lead, your main priority will be to co-develop the Third Party Risk Management (TPRM framework) as well as the DORA regulation into our procedures and processes. You will be working closely with various teams and departments within the organization (IT, Legal, Risk, Governance, Finance and various heads of departments as first line of defence), as well as with external service providers. It is important to have strong communication skills to effectively collaborate, negotiate, and manage relationships. You will be responsible for ensuring that our business owners and vendors comply with the Digital Operational Resilience Act (DORA) and other relevant regulations, as well as our internal policies and standards. You will also monitor and assess the performance, risk, and resilience of our vendors, and report on any issues or incidents that may affect our operations or reputation.

Key to this role is the selection and implementation of an end-to-end procurement tool to automate the full supplier onboarding, monitoring, and management lifecycle in order for the team to be able to scale in providing services globally.

What you will be doing:

• Risk management: skilled in implementing a third-party risk management framework to identify, assess, and mitigate risks associated with third-party service providers. This includes conducting comprehensive risk assessments and developing effective risk mitigation strategies.
• Process design and optimisation: experienced in designing the right process and implementing the best fit procurement system and technological tools to automate from manual processes, while keeping any tool simple, user-friendly and fit for purpose. You have experience on technology enhancements or transformation with other related departments such as Legal, Accounting, Risk, Governance.
• Relationship management: supporting the business owners to develop and maintain strategic relationships with third-party vendors, ensuring alignment with organizational goals and regulatory requirements.
• Regulatory compliance: knowledgeable about relevant regulations and industry standards related to third-party management and be able to ensure strict adherence and compliance across all vendor relationships. Key regulations that apply to the bank are DORA, CSSF 22/806, EBA guidelines, CSRD and their equivalent with the FMA, MAS, APRA.
• Performance monitoring: able to monitor and assess the performance, risk, and resilience of vendors, and collaborate with the supplier and stakeholders to resolve issues or incidents that may affect the organization's operations or reputation.
• Collaboration: able to work effectively with various teams and departments within the organization, as well as with external service providers, to achieve common goals and objectives. This requires strong communication and collaboration skills.

What we are looking for:
The ideal candidate for the position is a skilled and experienced professional with a background in procurement, risk management, relationship management, regulatory compliance, performance monitoring and procurement systems implementation. They should have at least 5 years of experience as a Vendor Manager, Supplier Relationship Manager, Third Party Risk Manager, preferably in the financial services industry.
The candidate should have experience in regulatory changes and has good working knowledge of the relevant financial regulations impacting third party management. They should have proven hands-on experience in monitoring of vendors, including performing vendor due diligence assessments, assurance report assessments and vendor performance monitoring.
The candidate should also have experience in designing procurement and third-party risk management procedures, templates and assessment as well as hands-on experience of selcting and implementing an end-to-end procurement system.
The ideal candidate should be positive, accurate, and flexible, with an analytical mindset and problem-solving aptitude. They should be adept at adapting to the fast-paced and dynamic nature of the bank, with a forward-looking approach to incorporating innovative solutions for effective third-party management and operational resilience.
The candidate should have a 'can do' mentality and be eager to contribute to the organization's success. They should be able to work effectively in a small team where knowledge sharing and collaboration are very important. Overall, the ideal candidate should bring a blend of strategic thinking, risk management acumen, and a proactive approach.
The position can be based in the UK, Denmark, or Luxembourg.

What we offer you
We offer a hybrid work model for our employees to allow for flexibility and productivity. However, we do expect you to spend most of your time in the office to build community and efficiency in the team. Furthermore, we offer a competitive salary and a generous benefit package, opportunities for continuous learning, development, and a dynamic and collaborative culture that values personal initiative and professional achievements.

Would you like to join us?
We will be conducting interviews continuously; therefore, we urge interested candidates to apply online as soon as possible.
Please note that applications or CVs coming through email or direct messages will not be accepted or considered.
If you have questions do not hesitate to contact Svetlana Stetchi, Global Recruitment Partner, on [email protected].

Department: Amerika Plads 38, København Ø

Lokation: Copenhagen (DK)