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- Tasks: Assess and manage risks from external suppliers while ensuring compliance with regulations.
- Company: Join a leading financial services firm with a focus on operational excellence.
- Benefits: Full-time permanent role with competitive salary and career development opportunities.
- Why this job: Make a real impact by enhancing third-party risk management in a dynamic environment.
- Qualifications: Degree in Finance, Accounting or Business; experience in Financial Services preferred.
- Other info: Collaborative team culture with opportunities for professional growth.
The predicted salary is between 36000 - 60000 £ per year.
Operations Services department provides processing support for the front line business units handling trade finance, loan and cash management products. The department also includes Business Risk & Controls, Financial Crime Operations and Facilities Management. As a Senior Associate - Third Party Risk Management, you will be responsible for supporting the Third Party Risk Management (TRPM) framework by assessing, monitoring and managing risks associated with external suppliers and service providers. You will conduct detailed risk assessments, maintain oversight of critical and important third-party relationships and ensure compliance with FCA/PRA outsourcing and operational resilience requirements. This is a full time permanent position.
Key responsibilities
- Conduct initial and ongoing risk assessments of third-party vendors across domains including cyber, financial, operational and compliance risk
- Support supplier onboarding and due diligence, ensuring alignment with internal policies and regulatory requirements
- Maintain and update the third-party inventory, ensuring accurate classification of critical and important suppliers
- Monitor vendor performance and risk exposure through periodic reviews, assessments, and control testing
- Collaborate with Procurement, Legal, Information Security and Business Units to ensure consistent application of the TPRM framework
- Track and report on remediation activities for identified third-party risks and control gaps
- Prepare Management Information (MI), dashboards and reporting for senior stakeholders, regulators and auditors
- Keep abreast of regulatory developments and industry best practices related to third-party risk and operational resilience
- Contribute to the enhancement of TPRM policies, procedures, tools and training materials
- Support relevant testing and implementation, prepare business requirements for new system
Requirements
- Degree educated in Finance, Accounting or Business
- Experience within the Financial Services industry and proven track record in similar business stream
- Relevant professional qualification is a plus
- Knowledge of risk assessment methodologies and familiarity with Governance, Risk, and Compliance (GRC) platforms
- Good understanding of UK regulatory requirements especially FCA/PRA guidelines on outsourcing and operational resilience
- Good MS Excel skills
- Team player
- Analytical mind set with attention to detail
- Excellent communication skills
Senior Associate - Third Party Risk employer: Bank of China
Contact Detail:
Bank of China Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Associate - Third Party Risk
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that Senior Associate role.
✨Tip Number 2
Prepare for interviews by researching the company and its TPRM framework. We suggest practising common interview questions related to risk management and compliance. Show them you’re not just a fit for the role, but also passionate about their mission!
✨Tip Number 3
Follow up after your interviews! A quick thank-you email can go a long way. It shows your enthusiasm for the position and keeps you fresh in their minds. We believe it’s a small gesture that can make a big impact.
✨Tip Number 4
Don’t forget to apply through our website! We’ve got loads of opportunities waiting for you, and applying directly can sometimes give you an edge. Plus, it’s super easy to keep track of your applications with us!
We think you need these skills to ace Senior Associate - Third Party Risk
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that align with the Senior Associate - Third Party Risk role. Highlight your experience in risk assessments and compliance, as these are key to what we’re looking for.
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 your background makes you a perfect fit for our team at StudySmarter.
Showcase Relevant Experience: When detailing your work history, focus on your achievements in financial services and any specific projects related to vendor management or risk assessment. We want to see how you’ve made an impact in previous roles!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it’s super easy!
How to prepare for a job interview at Bank of China
✨Know Your Risk Assessment Methodologies
Make sure you brush up on various risk assessment methodologies before the interview. Be ready to discuss how you've applied these in past roles, especially in relation to third-party vendors. This will show that you understand the core responsibilities of the Senior Associate position.
✨Familiarise Yourself with Regulatory Requirements
Since this role involves compliance with FCA/PRA guidelines, it’s crucial to be well-versed in these regulations. Prepare examples of how you've navigated regulatory challenges in previous positions, as this will demonstrate your ability to manage compliance effectively.
✨Highlight Your Collaborative Skills
This position requires collaboration with various departments like Procurement and Legal. Think of specific instances where you successfully worked with cross-functional teams to achieve a common goal. Sharing these experiences will illustrate your teamwork abilities and fit for the role.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your analytical mindset and attention to detail. Practice articulating how you would handle specific risks or vendor performance issues. This will help you showcase your problem-solving skills and readiness for the challenges of the role.
