Third Party Risk Manager - Financial Services
|Job Title:||Third Party Risk Manager - Financial Services|
|Contact Name:||PwCRecruiting Team|
|Job Published:||June 11, 2019 18:57|
The Commercial Assurance Team help clients manage their third party risk, deliver compliance and enhance value from their third party relationships.
Third party challenges are closely linked to wider industry hot topics, so the Commercial Assurance team works closely with other PwC FS propositions including the regulatory, technology, business resilience and the operations transformation advisory teams to bring clients joined up solutions. This means that there is a wide range of opportunities for career and personal development both not just within the team, but within the wider PwC firm.
About the role
Financial Services organisations have become more complex, global and interconnected, due to mergers and acquisitions or in an effort to grow the business or cut costs, complex business models have evolved with increased dependency on third parties and global intra-group affiliates. This complexity and the resulting opaqueness of the supply of services have led to increased management overheads and investment because of the increased effort needed to properly assess and manage the risk. Additionally this is a topic that is high on the global regulatory agenda; regulators see this as a significant risk to financial stability and are using their powers to enforce improved practices across the industry. There have been several high profile instances where organisations have not had the visibility or properly managed the risks from services provided by third parties or affiliates resulting in outages, fines and significant reputational damage.
Regulators are also tackling this issue together as part of other key areas of focus such as resolution and recovery planning (RRP), ring-fencing and broader operational risk improvements.
The Commercial Assurance team help clients assess and improve their practices for managing outsourcing and third party risk. We provide a variety of services and run a number of engagements with clients, from diagnostic and gap analysis to full scale design, build and solution implementations.
Because these challenges are closely linked to other industry hot topics, the team works closely with other propositions including the regulatory, technology, business resilience and the operations transformation advisory teams to bring clients joined up solutions.
The role holder will join a high performing, ambitious and rapidly growing team; with this comes the opportunity to contribute to the direction of the proposition, support the growth of the team, take on additional responsibility and progress quickly.
Managing client engagements and delivering projects
Developing high quality deliverables and outcomes for clients for example:
o Providing advice in relation to third party risk and outsourcing regulations
o Helping clients optimise value from their third party supplier agreements
o Assessing clients’ third party management operating models to identify improvements in line with industry best practice
o Providing clients’ with an outsourced utlility to undertake third party due diligence and on-going monitoring services
o Creating high quality outputs such as detailed reports and presentations
Leading and participating in small teams to deliver client engagements.
Mentoring junior members of staff
Building relationships with PwC stakeholders and with clients through successful delivery of engagements as well as through proactive sales and marketing efforts.
Helping with thought leadership and developing the proposition
Relevant Skills and Experience
Experience in at least two of the following areas – Third Party Risk Management; Controls Assurance; Procurement and Sourcing; Third Party Managed Services; Operating Model Design, Design; Third Party Technology Solutions; Development of MI and Reporting
Previous experience of successfully leading teams, in particular in high pressure project environments
Previous experience of leading projects
Previous experience of successfully delivering change in a complex business environment (e.g. multiple business units/ departments/ international stakeholders)
Experience gained within the Financial Services sector
Excellent people and relationship management skills, with the ability to operate and manage stakeholders at all levels within a complex matrix environment
Excellent communication skills
Excellent project management and organisation skills
Problem Solving: creative and innovative, with ability to bring fresh insight, ideas and perspective to the role
Strategic Thinking: Ability to see the bigger picture and put issues into perspective
Has a positive, 'can-do' approach
Demonstrates empathy and resilience
A ‘self-starter’, comfortable working as part of a 'virtual team'
Minimum graduate degree or equivalent qualification (ideally gained from a leading institution)
Ideally holds a relevant professional or post graduate qualification.
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