At a Glance
- Tasks: Support third-party risk management and ensure compliance with regulatory standards.
- Company: Join a leading financial institution focused on operational resilience and risk management.
- Benefits: Full-time permanent role with competitive salary and professional development opportunities.
- Other info: Dynamic work environment with opportunities for growth and collaboration across teams.
- Why this job: Make a real impact by managing risks and enhancing operational resilience in the banking sector.
- Qualifications: Degree in Business, Finance, or Risk Management; experience in Third Party Risk Management preferred.
The predicted salary is between 60000 - 80000 £ per year.
Operations Services department provides processing support for the front line business units handling trade finance, loan and cash management products. Operations Business Risk and Controls (OBRC) is part of the department. It is responsible for managing third-party risk, strengthening operational resilience, and maintaining a robust risk and control framework across the business.
As an Assistant Vice President – Third Party Risk Management, you will support the end‑to‑end Third‑Party Risk Management (TPRM) framework, ensuring that all external vendors, service providers, and outsourcing arrangements meet the Bank’s risk, compliance, and regulatory expectations. This is a full time permanent position.
Key responsibilities- Drive inherent and residual risk assessments spanning operational, information security, data privacy, financial, and resilience domains, while reviewing and monitoring Third Party Risk Management risk appetite.
- Coordinate and challenge due‑diligence outputs, ensuring alignment with SS1/21 expectations for outsourcing and third‑party arrangements.
- Review contractual clauses to ensure compliance with SYSC 8 outsourcing requirements, including exit strategies, audit rights, and data‑handling provisions.
- Oversee periodic reviews, performance monitoring, and trigger‑based reassessments, ensuring alignment with Operational Resilience requirements.
- Track and elevate vendor‑related issues and incidents, ensuring remediation plans meet regulatory and internal standards.
- Ensure third‑party arrangements comply with SS1/21 (outsourcing and third‑party risk), SYSC 8 (outsourcing), and ICT risk and operational resilience.
- Provide expert guidance to business units on third‑party risks, regulatory expectations, and control requirements.
- Prepare MI, dashboards, and governance materials for senior management, risk committees, and regulatory reviews.
- Support continuous improvement of TPRM framework, processes, methodologies, and tooling.
- Ensure third‑party dependencies are integrated into impact tolerances, mapping, scenario testing, and resilience‑aligned planning.
- Coordinate cross‑team and departmental activities, supporting new projects and initiatives.
- Contribute to system testing and implementation, including preparing business requirements or enhancements.
- Degree educated in Business, Finance, Risk Management or relevant subjects.
- Professional certifications such as CRVPM, CISM, CISSP, IRM are beneficial but not mandatory.
- Solid experience in Third Party Risk Management within the Financial Services industry, ideally Banking sector.
- Solid understanding of UK SS1/21, SYSC 8, and DORA would be highly beneficial.
- Extensive working knowledge of 1LoD operational risk practices.
- Solid understanding of third‑party risk, operational risk, outsourcing regulations, and supplier governance.
- Excellent communication and stakeholder management skills.
- Excellent analytical and problem‑solving skills.
- Proficient in MS Office (Word, Excel, PowerPoint, Visio).
Assistant Vice President - Third Party Risk Management employer: Bank of China
As an Assistant Vice President in Third Party Risk Management, you will thrive in a dynamic and supportive work environment that prioritises employee growth and development. Our Operations Services department fosters a culture of collaboration and innovation, offering comprehensive training and career advancement opportunities while ensuring a healthy work-life balance. Located in a vibrant area, we provide competitive benefits and a commitment to operational resilience, making us an exceptional employer for those seeking meaningful and rewarding careers in the financial services sector.
StudySmarter Expert Advice🤫
We think this is how you could land Assistant Vice President - Third Party Risk Management
✨Tip Number 1
Network like a pro! Reach out to folks in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their approach to Third Party Risk Management and think about how your skills align with their needs. We want you to shine!
✨Tip Number 3
Practice makes perfect! Do mock interviews with friends or use online resources to get comfortable with common questions. The more you practice, the more confident you'll feel when it’s time to impress the hiring team.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Assistant Vice President - Third Party Risk Management
Some tips for your application 🫡
Tailor Your CV:Make sure your CV speaks directly to the role of Assistant Vice President - Third Party Risk Management. Highlight your experience in third-party risk management and any relevant certifications. We want to see how your skills align with our needs!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about third-party risk management and how you can contribute to our Operations Services department. Keep it engaging and personal, so we get a sense of who you are.
Showcase Relevant Experience:When detailing your work history, focus on your achievements in risk management, compliance, and operational resilience. We love seeing concrete examples of how you've tackled challenges in the financial services industry!
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at Bank of China
✨Know Your Risk Management Stuff
Make sure you brush up on your knowledge of third-party risk management, especially in the context of the financial services industry. Familiarise yourself with UK regulations like SS1/21 and SYSC 8, as these will likely come up during the interview.
✨Prepare Real-World Examples
Think of specific instances where you've successfully managed third-party risks or improved operational resilience. Be ready to discuss how you tackled challenges and what the outcomes were, as this will demonstrate your practical experience.
✨Show Off Your Communication Skills
Since the role involves liaising with various stakeholders, practice articulating complex risk concepts in a clear and concise manner. You might be asked to explain how you would guide business units on regulatory expectations, so be prepared to showcase your communication prowess.
✨Get Familiar with Tools and Methodologies
If you have experience with any TPRM tools or methodologies, make sure to highlight that. Being proficient in MS Office is a must, but if you know any specific software used for risk assessments or vendor management, mention it to stand out.
