Third Party Vendor Management in Belfast

Individuals in Operational Risk establish and manage operational risk policies, propose strategies, and governance processes designed to minimize losses from inadequate controls, fraud, and potential bankruptcy. This includes supervision over technology operational risk, cyber risk, and fraud risk. These individuals are also responsible for the development of tools and infrastructure that support fraud monitoring and prevention, using advanced analytical and statistical skills to identify policy gaps and recommend changes to current policies. This role is crucial to the company as it fortifies against potential operational risks, thereby protecting the company's financial stability and reputation, and contributing towards the overall business resilience and success.

What you'll do:

• Represent business leadership in Third-Party Risk Management activities coordination and facilitation.
• Evaluate market conditions and provide insight into trends that could impact the business.
• Verify third-party compliance to required policies and controls and advise on third-party risk assessments and reassessments.
• Partner with operations and tech teams for on-site visits of third parties when necessary.
• Maintain and update Exit Strategy Plans as required.
• Address escalations of non-performance and contractual issues with third parties when necessary.
• Monitor third-party performance and service level agreements.
• Ensure proper execution and upload of third-party contracts in Contract Management System.
• Review, prioritise, assess, and act on third-party risk management assessments results.
• Facilitate remediation of issues or gaps identified during ongoing monitoring.
• Define risk mitigation strategies based on business' risk appetite.
• Liaise with Third Party Utility for centrally conducted third-party risk management activities.
• Assess risk when making business decisions.
• Participate in the identification, measurement, monitoring, and reporting of risks.
• Assist in the development and implementation of operational risk management protocols.
• Engage in third-party risk management audits and product oversight reviews.
• Design strategies to improve current processes and advocate for risk reduction strategies.
• Support the development, execution, and analysis of reports.
• Promote operational risk management best practices.
• Act as a change catalyst by identifying and helping others see where new ideas could benefit the organisation.
• Proactively seeks to understand and act in alignment with organisational decisions; helps others prioritise team and enterprise success over their own personal agenda.
• Focus on highest-priority work aligned to business goals; helps others effectively manage competing priorities.
• Proactively identifies opportunities to streamline work; creates process improvements that enhance efficiency for self and the team.
• Takes personal accountability for escalating, identifying, and managing potential risk; implements controls that enhance the client experience and operational effectiveness.
• Anticipates problems and proactively identifies solutions that address the root causes and result in meaningful improvements.
• Sets high expectations and invests the necessary effort to deliver excellence and exceed performance goals.
• Engages key stakeholders early and often and actively looks for opportunities to improve collaboration in achieving common goals.
• Proactively seeks out opportunities to volunteer in Citi programs that support the community; advocates for solutions that meet the needs of Citi’s clients and the community.
• Empathetically listens and understands others’ positions before acting on issues; works to amplify voices that are minimised in the workplace.
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets.

What we'll need from you:

• Knowledge in risk management, particularly Resilience and Third-Party Risk Management.
• Understanding of Third-Party Management policy and procedures.
• Familiarity with risk governance structures and risk appetite parameters.
• Ability to create, apply, and analyse reports.
• Background in the implementation of third-party and resilience risk processes across various sectors and regions.
• Experience in conducting comprehensive third-party and resilience risk management reviews.
• Knowledge of relevant regulations and standards related to risk management, and ability to ensure compliance.
• Adapt to work across a diverse organisation, managing various sectors and regions.
• Utilise strong analytical skills to interpret complex data and present it in a clear and understandable manner.
• Identify and address potential risks, ensuring adherence to regulatory standards.
• Communicate effectively with various stakeholders, providing counsel and collaborating on risk management strategies.
• Utilise project management skills to oversee risk reviews and implement mitigation efforts.
• Challenge established practices, showing adaptability and critical thinking in diverse organisational contexts.
• Solve complex problems by identifying and addressing root causes leading to operational risk losses.

Education:

• Bachelor's/University degree or equivalent experience.