Head of Third Party Risk Management
2 weeks ago
Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
ROLE DUTIES & RESPONSIBILITIES:
Responsibilities include, but are not limited to, the following:
- Lead the design and deployment of a firm-wide TPRM framework (including outsourcing governance framework).
- Manage the ongoing TPRM program which includes an integrated approach for assessing and mitigating the risk of new and existing third-party suppliers.
- Ensure that risks associated with Third Party relationships, before and after entering into contracts, are sufficiently identified, assessed, monitored and controlled.
- Manage and enhance the governance model to provide ongoing monitoring and oversight of the risks posed by third-parties.
- Monitor and update third-party risk assessment framework to respond and adhere to new and existing regulatory guidelines and initiatives.
- Lead third-party risk segmentation, deploy and maintain up-to-date annual attestations by contract owners.
- Develop reports for use by business areas and senior management regarding third-party risks.
- Identify and escalate key items of concern regarding new and existing current third –parties, including the potential of concentration risk and fourth-party risk exposures.
- Partner with sourcing partners, Operational Risk Team, Information Security and Technology Risk Team, Compliance, Legal, business areas and other assurance functions in the second and third line of defense to identify third-party risks and escalate those risks appropriately
REQUIREMENTS:
Education:
- Bachelor's degree as a minimum academic qualification
Work Experience:
- Minimum of 8 years focused expertise in Third Party Oversight, Vendor Governance, Risk Management, Operational Risk
- Proven related financial services experience, risk & regulatory related experience highly desired
- Third Party Vendor experience preferred
- Broad and deep third-party risk technical knowledge
- Strong people management, internal consulting, and partnering skills
- Ability to influence with or without authority to achieve desired outcomes
- Balance and successfully manage competing priorities
- Strong industry participant with knowledge of best practices
Competencies & Personal Traits:
- Ability to work independently, with limited supervision
- Ability to think strategically and tactically to ensure recommendations are appropriate and realistic
- Proficient in Microsoft Excel, PowerPoint and Word
- Effective written and verbal communication skills
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.
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