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- Tasks: Manage vendor relationships and ensure compliance with regulations and internal policies.
- Company: Join a prestigious foreign bank located in Central London.
- Benefits: Enjoy a competitive salary of £40,000 - £50,000 plus excellent corporate benefits.
- Why this job: Be part of a vital role that enhances operational resilience and business continuity.
- Qualifications: Experience in vendor risk management within regulated financial services is essential.
- Other info: Office-based 2 days a month, offering flexibility and a dynamic work environment.
The predicted salary is between 34000 - 46000 £ per year.
An exciting opportunity has arisen for a Vendor Risk Officer to join a prestigious foreign bank based in the heart of Central London. As a Third Party Risk Officer, you will report directly to the Operational Resilience & Business Continuity Manager. This vital role will see you managing all aspects of third-party and supplier relationships, ensuring that vendor engagements meet regulatory standards, align with internal policies, and deliver maximum value to the organisation.
Key Responsibilities:
- Oversee the evaluation, selection, and onboarding of third-party vendors & service providers.
- Conduct regular risk assessments and due diligence to identify and mitigate vendor-related risks (including operational, financial, cybersecurity, and reputational risks).
- Ensure all suppliers comply with applicable laws, regulations, and internal policies, including GDPR (UK DPA 2018) and ISO 27001.
- Develop and monitor KPIs to track vendor performance.
- Collaborate with Legal and other internal stakeholders to manage contracts and service agreements, ensuring clarity on deliverables, timelines, and compliance.
- Serve as the primary point of contact.
- Maintain detailed records of vendor performance, risk assessments, and compliance metrics.
- Provide regular reports and insights to senior management on third-party performance & risk.
- Identify and implement process improvements to strengthen vendor governance & efficiency.
Key Experience:
- Previous experience as a Vendor Risk Officer, Third-Party Risk Officer, Supplier Relationship Officer, or in a similar role within a regulated financial services environment.
- Strong understanding of third-party risk management, regulatory compliance, and operational resilience frameworks.
- Familiarity with FCA and PRA requirements and best practices in vendor governance.
- Proficiency in vendor management systems (VMS) and contract management tools.
- Excellent analytical, negotiation, and interpersonal skills.
- Ability to work independently and collaboratively across cross-functional teams.
Third Party Risk Officer employer: Additional Resources Recruitment
Contact Detail:
Additional Resources Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Third Party Risk Officer
✨Tip Number 1
Network with professionals in the banking and financial services sector. Attend industry events or webinars where you can meet people who work in third-party risk management. Building these connections can provide valuable insights and potentially lead to job referrals.
✨Tip Number 2
Familiarise yourself with the latest regulations and best practices related to third-party risk management, especially those set by the FCA and PRA. Being well-versed in these areas will not only boost your confidence but also demonstrate your commitment to compliance during interviews.
✨Tip Number 3
Prepare to discuss specific examples of how you've managed vendor relationships or conducted risk assessments in previous roles. Use the STAR method (Situation, Task, Action, Result) to structure your responses, showcasing your analytical and negotiation skills effectively.
✨Tip Number 4
Research the company’s current vendors and any recent news related to their third-party risk management practices. This knowledge can help you tailor your discussions during interviews and show that you are genuinely interested in the role and the organisation.
We think you need these skills to ace Third Party Risk Officer
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience as a Vendor Risk Officer or in similar roles. Emphasise your understanding of third-party risk management and regulatory compliance, particularly within the financial services sector.
Craft a Compelling Cover Letter: Write a cover letter that specifically addresses the key responsibilities and experiences mentioned in the job description. Use examples from your past work to demonstrate your skills in vendor evaluation, risk assessment, and compliance.
Highlight Relevant Skills: In your application, clearly outline your proficiency in vendor management systems and contract management tools. Mention any familiarity with FCA and PRA requirements, as this will show your readiness for the role.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects attention to detail, which is crucial for a role focused on compliance and risk management.
How to prepare for a job interview at Additional Resources Recruitment
✨Understand the Regulatory Landscape
Familiarise yourself with the FCA and PRA requirements relevant to third-party risk management. Being able to discuss these regulations confidently will demonstrate your knowledge and preparedness for the role.
✨Showcase Your Analytical Skills
Prepare examples of how you've conducted risk assessments or managed vendor relationships in the past. Highlight specific situations where your analytical skills helped mitigate risks or improve vendor performance.
✨Emphasise Collaboration
This role requires working closely with various stakeholders, including Legal and senior management. Be ready to discuss how you've successfully collaborated with different teams in previous roles to achieve common goals.
✨Prepare Questions About Process Improvements
Think about potential process improvements you could suggest for vendor governance. Asking insightful questions during the interview shows your proactive approach and genuine interest in enhancing the organisation's operations.
