At a Glance
- Tasks: Shape the future of procurement and vendor oversight in a dynamic role.
- Company: Join LGPS Central, a leading asset manager with a diverse and friendly culture.
- Benefits: Enjoy a generous pension scheme, hybrid working, and wellness support.
- Other info: Be part of an award-winning team focused on diversity and inclusion.
- Why this job: Make a real impact on risk management and compliance in financial services.
- Qualifications: 5+ years in third-party risk or contract management, ideally in finance.
The predicted salary is between 60000 - 75000 £ per year.
Join us at a pivotal moment, where procurement expertise, contract management, and vendor oversight come together to shape the future of LGPS pooling.
The Third Party Risk and Contracts Manager is responsible for developing, implementing, and maintaining a robust third-party risk management framework and to oversee the effective and efficient performance of suppliers.
This role is to ensure that all vendors, service providers, and outsourced partners meet regulatory requirements and align with the firm’s risk appetite and supplier performance achieves LGPS Central’s objectives.
This role is critical in safeguarding operational resilience, regulatory compliance, and protecting the firm’s reputation.
What you’ll be doing
- Framework Development & Governance
- Design and maintain the third-party risk management policy and procedures in line with FCA, PRA, and other relevant regulatory requirements.
- Establish governance structures for oversight of third-party relationships.
- Conduct initial and ongoing risk assessments of third-party vendors, including financial stability, operational resilience, cybersecurity, and compliance posture.
- Perform enhanced due diligence for critical and high‑risk vendors.
- Supplier Performance and Relationship Management
- Monitor performance and ensure suppliers meet contractual obligations, escalating issues or disputes as needed.
- Support audits, due‑diligence reviews and risk assessments where required.
- Contract Lifecycle Management
- Track and manage key dates such as renewals, expirations, notice periods, and obligations.
- Support contract extensions, variations, re‑negotiations, and exit planning.
- Monitoring & Reporting
- Develop and maintain a vendor risk register and ensure timely updates.
- Monitor performance and risk indicators for third-party relationships and elevate issues as required.
- Prepare regular reports for senior management, risk committees, and regulators.
- Regulatory Compliance
- Ensure compliance with FCA SYSC 8 (Outsourcing) and other applicable regulations.
- Support regulatory audits and respond to information requests related to outsourcing and third‑party risk.
- Oversee third‑party incident reporting and remediation processes.
- Ensure robust exit strategies and contingency plans for critical vendors.
- Stakeholder Engagement
- Work closely with Procurement, Legal, Compliance, and Operational teams to undertake robust contract management and align third‑party risk management with broader risk frameworks.
- Provide training and guidance to internal stakeholders on contract management, third‑party risk policies and best practices.
About us
LGPS Central (LGPSC) Ltd is the FCA regulated asset manager for eight local authority pension funds across the Midlands.
LGPSC is jointly owned on an equal shares basis by those Partner Funds, and it is responsible for managing £45bn+ of their assets.
It is one of eight Local Government Pension Scheme (LGPS) asset pools in the UK.
LGPS Central offers a friendly and diverse, hybrid working environment with a range of employee benefits.
Requirements
- Minimum 5 years’ experience in third‑party risk management, contract management, or operational risk, ideally within financial services (preferably asset management).
- Strong understanding of UK regulatory requirements (FCA, PRA) and outsourcing guidelines.
- Proven experience in developing and implementing risk frameworks and conducting vendor due diligence.
- Proven experience in contract management, preferably in a financial services environment.
Qualifications
- Bachelor’s degree in Risk Management, Finance or related field (desirable).
- Professional certifications such as CIPS, or equivalent, is desirable.
What do we offer?
- An enhanced and generous Pension Scheme
- An extra paid Company Day in addition to paid holidays
- Welfare and Family friendly policies
- Enhanced pay for new parents
- Access to our Employee Assistance Programme 247 Health & Wellbeing Support
- Vitality Private Medical Insurance
- Hybrid Working
- Company Service Awards
- Cycle to Work Scheme
- Company Electric Vehicle Scheme
- Nominees of the Family Friendly Employer of the Year 2022 Personnel Today Awards 2022
- Winner of the Cultural Awareness Initiative of the Year FT Advisors Diversity in Finance Awards 2023
- Winner of Diversity and Inclusion Award LAPF In Investments Award 2023
- #J-18808-Ljbffr
