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Vendor & Operational Risk Manager

London - City of
Not Specified
Job Reference

This is an excellent opportunity to work with the Head of Governance and Control to act as central point of contact to manage Procurement and Vendor risk management as well as first line operational risk.

Operational Risk experience, to also include EBA (European Banking Association) Outsourcing Regulations as this role will work within the business to risk assess vendors. Advise on PRA Regs on vendor risk assessment, Design and develop risk processes and policies.

Primary Responsibilities of Role:

  • Develop Procurement and Vendor Management procedures and operationalize the process to ensure its fully embedded within the business

  • Run the Procurement and Vendor Management Governance forum to manage upcoming contracts reviews, vendor on-boarding and critical vendor risk assessment to ensure it complies with the EBA guidelines

  • Conduct cost analysis and cost saving exercise of existing vendors, produce monthly MI of cost per department and trend analysis

  • Identify business owners for vendors that don't have an ownership

  • Design and implement adequate controls for on-going vendor management

  • Facilitate the business on contract negotiation, contract renew and contract review

  • Support the Head of Governance and Control as first line of defense in the day to day management of operational risk Assist the business to develop KRI and design first line control testing;

  • Produce monthly MI of first line risk profile and control testing matrix

  • Support the Head of Governance and Control on Bank's insurance and Policy Management

Competence Requirements:

Professional/Academic Qualifications:


  • Experience in vendor risk management and understand EBA guidelines and requirement

  • Able to read and understand commercial contracts

  • Experiences with external vendors

  • Governance experiences

  • Experience in sourcing alternative vendors in order to improve the level of service for the bank

  • Experience in cost saving and analysis

  • Solid quantitative and qualitative analytical skills, attention to detail and strong excel skills;

  • Experience in producing meaningful RCAs and KRIs;

  • Experience in designing and conducting control testing to identify control gaps and implementing appropriate controls when necessary

  • Strong communication skills (both written and oral);

  • Proven interpersonal skills with ability to work with a fair degree of autonomy and demonstrate initiative and a sense of personal accountability, but remain a team player and enjoy contributing in a cooperative environment;

Interpersonal Skills:

  • Strong organisational and planning skills.

  • Enthusiastic, pragmatic and solutions lead - ability to negotiate with vendors as well as maintaining good relationship.

  • Ability to run meetings, workshops and to speak confidently with vendors and internal stakeholders

Languages: Strong written (key, must be able to write procedures) and verbal communication


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