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- Tasks: Lead the Third Party Risk Management Framework and oversee technology supplier risks.
- Company: Admiral Group Plc is a diverse, inclusive company focused on empowering its employees.
- Benefits: Enjoy remote work, 33-38 days holiday, and up to £3,600 in free shares annually.
- Why this job: Join a people-first culture recognised as a Great Place to Work for over 25 years.
- Qualifications: 5+ years in third-party risk or vendor management, with strong regulatory knowledge required.
- Other info: Work remotely with occasional office visits; ideal for those passionate about risk management.
The predicted salary is between 48000 - 72000 £ per year.
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Reporting to the Technology Risk Manager, the Third Party Risk Lead is responsible for Managing and evolving the organisation’s Third Party Risk Management (TPRM) Framework, ensuring it is robust, compliant with applicable regulatory requirements (including operational resilience), and aligned with industry best practices. This role will focus on overseeing third-party risk, with particular emphasis on technology suppliers, including cloud providers, software vendors, and outsourced IT service providers. The role operates independently from the Procurement function but collaborates closely with it to embed robust risk assessments in the procurement lifecycle. This role holder will work closely with Third Party Risk Managers across the business ensuring a cohesive approach across the organisation.
Key Responsibilities
- Maintain & Operate the Third Party Risk Management Framework, policies, procedures, and tools to ensure compliance with relevant regulatory requirements (e.g., FCA/PRA, etc.).
- Monitor and report on the end-to-end third-party risk lifecycle process including due diligence, onboarding, monitoring, issue management, and offboarding to ensure that risks are effectively identified and Managed.
- Provide expert oversight and risk assessment of all critical technology suppliers, including cloud, infrastructure, platforms, and managed services.
- Develop and maintain a risk taxonomy and categorisation model for third-party suppliers, with a specific lens on operational resilience, concentration risk, and systemic impact.
- Ensure that critical third-party services are mapped to Important Business Services (IBS) as part of operational resilience requirements.
- Support and challenge business stakeholders in supplier selection and ongoing oversight, particularly for high-risk and critical vendors.
- Monitor assessment and testing of third-party Business Continuity and Disaster Recovery (BC/DR) plans.
- Monitor regulatory developments related to third-party risk and ensure timely updates to the framework and processes.
- Conduct risk reviews, deep-dives, and performance assessments on critical technology suppliers.
- Report to senior management and risk committees on third-party risk exposures, issues, and performance metrics.
- Promote a risk-aware culture by providing training and guidance to stakeholders on third-party risk management best practices.
- Develop and maintain metrics and reporting dashboards to track third-party risk exposure, remediation progress, and regulatory compliance.
- Collaborate closely with business departments to support their third-party/supplier risk management, driving consistency across the organisation.
Essential
Experience and Skills required
- Proven experience (5+ years) in third-party risk, operational risk, vendor management, or similar within the financial services sector.
- Strong knowledge of regulatory requirements related to third-party risk and operational resilience (e.g., UK PRA/FCA SS2/21, DORA, EBA, ISO27001, NIST).
- Solid understanding of technology infrastructure and associated risks, especially in cloud services and IT outsourcing.
- Experience in leading risk assessments, and ongoing monitoring of technology suppliers.
- Excellent communication and stakeholder engagement skills.
- Strong analytical and reporting capabilities.
- Proven ability to work collaboratively across functions and influence stakeholders without direct authority.
- Excellent organizational skills and ability to manage multiple priorities under pressure.
Desirable
- Bachelor’s or Master’s degree in Risk Management, Information Security, Technology, or a related field.
- Relevant professional certifications such as CRISC, CTPRP, CISM, CISSP, ISO 27001 Lead Auditor.
- Experience working in or with regulated financial institutions.
- Understanding of data privacy requirements (e.g., GDPR) in the context of third-party relationships.
Location
This role will primarily be remote however you will be expected to visit our office in Cardiff 2 days per month, as well as any ad hoc visits if required.
Admiral: Where You Can
We take pride in being a diverse and inclusive business. It\’s a place where you can Be You, and show up as you are. We’re committed to fostering a people-first culture where everyone is accepted, supported, and empowered to be brilliant. You can, Grow And Progress at a pace and direction that suits you, Make A Difference for our customers and each other, and Share in Our Future with all colleagues eligible for up to £3,600 of free shares each year after one year of service.
Everyone receives 33 days holiday (including bank holidays) when they join us, increasing the longer you stay with us, up to a maximum of 38 days (including bank holidays). You also have the option to buy or sell up to an additional five days of annual leave.
We’re proud of our people-first culture. In fact, we\’ve been recognised as a Great Place to Work for Women, a Great Place to Work for Wellbeing, and an overall Great Place to Work for over 25 years! We’re fully committed to making sure your progression is not slowed or halted by barriers related to race, gender, age, sexuality or any of the protected characteristics.
Our fantastic benefits make sure our colleagues have a great work-life balance; You can view some of our other key benefits here.
Seniority level
-
Seniority level
Not Applicable
Employment type
-
Employment type
Full-time
Job function
-
Job function
Other
-
Industries
Financial Services, IT Services and IT Consulting, and Insurance
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Third Party Risk Lead employer: Admiral
Contact Detail:
Admiral Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Third Party Risk Lead
✨Tip Number 1
Familiarise yourself with the latest regulatory requirements related to third-party risk management, especially those specific to the financial services sector. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 2
Network with professionals already working in third-party risk management or related roles. Engaging with industry groups or attending relevant webinars can provide insights into best practices and current challenges, making you a more informed candidate.
✨Tip Number 3
Prepare to discuss specific examples of how you've managed third-party risks in previous roles. Highlighting your experience with technology suppliers, especially in cloud services, will showcase your expertise and relevance to the role.
✨Tip Number 4
Demonstrate your ability to collaborate across functions by preparing examples of how you've influenced stakeholders without direct authority. This skill is crucial for the Third Party Risk Lead role, as it involves working closely with various departments.
We think you need these skills to ace Third Party Risk Lead
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Third Party Risk Lead position. Tailor your application to highlight relevant experience in third-party risk management and operational resilience.
Highlight Relevant Experience: In your CV and cover letter, emphasise your proven experience in third-party risk, vendor management, or operational risk within the financial services sector. Use specific examples to demonstrate your expertise in managing technology suppliers and compliance with regulatory requirements.
Showcase Your Skills: Make sure to showcase your strong analytical skills, communication abilities, and stakeholder engagement experience. Mention any relevant certifications or educational background that aligns with the job description, such as CRISC or CISM.
Craft a Compelling Cover Letter: Write a tailored cover letter that connects your skills and experiences to the key responsibilities of the role. Discuss how you can contribute to maintaining and evolving the Third Party Risk Management Framework at Admiral Group Plc.
How to prepare for a job interview at Admiral
✨Understand the TPRM Framework
Make sure you have a solid grasp of Third Party Risk Management (TPRM) frameworks. Familiarise yourself with relevant regulatory requirements and industry best practices, as this will be crucial in demonstrating your expertise during the interview.
✨Showcase Your Experience
Prepare to discuss your previous experience in third-party risk, operational risk, or vendor management. Highlight specific examples where you've successfully managed risks associated with technology suppliers, especially in cloud services or IT outsourcing.
✨Communicate Effectively
Strong communication skills are essential for this role. Practice articulating complex risk concepts clearly and concisely, as you'll need to engage with various stakeholders across the organisation.
✨Demonstrate Analytical Skills
Be ready to showcase your analytical capabilities. Discuss how you've used data to assess risks, monitor supplier performance, and develop metrics for reporting. This will help illustrate your ability to make informed decisions based on risk assessments.
