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- Tasks: Join our Procurement team as a Third Party Risk Analyst, ensuring compliance and managing supplier risks.
- Company: Vitality, a multi-award-winning UK insurance brand focused on health and happiness.
- Benefits: Enjoy competitive salary, bonus schemes, pension contributions, and award-winning health insurance.
- Why this job: Make a real impact by safeguarding operations and enhancing supplier relationships in a dynamic environment.
- Qualifications: Strong analytical skills, attention to detail, and proficiency in risk management tools required.
- Other info: Flexible working options and excellent career growth opportunities await you!
The predicted salary is between 36000 - 60000 £ per year.
About The Role
Team Procurement - Group Operations
Working Pattern - Hybrid 2 days per week in the Vitality Bournemouth Office. Full time, 35 hours per week. We are happy to discuss flexible working!
Top 3 skills needed for this role:
- Analytical & Detail-Oriented Approach
- Problem-Solving Mindset
- Proficiency in Risk Tools & Systems
What this role is all about:
Join our dynamic Procurement team as a Third Party Risk Analyst and play a pivotal role in safeguarding Vitality's operations and reputation. We're looking for a bright individual who thrives in an analytical environment, where you'll be at the forefront of implementing our Third Party Risk Management Framework, identifying, evaluating, and mitigating risks from external suppliers to ensure seamless compliance and resilience.
Key Actions
- Be responsible for conducting thorough due diligence on third parties before onboarding, ensuring they meet Vitality's standards related to security, compliance, financial stability, and Sanction Screening. This may also involve reviewing the third party's policies, procedures, audits, and other relevant documentation.
- Effectively identify risks associated with the onboarding of new third parties and a portfolio of risk categorised suppliers via the Third-Party Risk Management process, managing review cycles, issuing and tracking of risk questionnaires, review and evaluation of responses, and compliance, to mitigate Vitality against any potential risk.
- Be responsible for populating and maintaining the Vitality Third Party Risk Management Database, contained within OneTrust, covering all third parties that Vitality engages with.
- Support the wider team throughout the Sourcing Lifecycle and provide flexible resource.
- Once risks are identified and assessed, develop strategies and plans to mitigate these risks by implementing controls, suggesting modifications to third-party relationships, or proposing alternative solutions.
- An essential aspect of the role involves ongoing monitoring of third-party relationships to ensure risks are managed effectively. Maintain detailed reports outlining the status of third-party risks for senior management and relevant stakeholders.
- Utilisation of tools to support third-party risk activity, including a financial tracking system, and workflow system.
- Be responsible for the system administration and testing of applications used during Sourcing/Third-Party Risk processes.
- Act as a point of contact for any third-party queries and to support supplier audits where required.
What do you need to thrive?
- A highly organised individual, capable of effectively managing workload and prioritising demand in order to meet stakeholder expectations.
- Be adept at thinking logically and analytically, with the ability to effectively understand processes.
- Possess an excellent attention to detail.
- Possess a high degree of proficiency of Office 365 Suite.
- Understand the essential concepts of Operational & Third Party Risk Management.
So, what's in it for you?
- Bonus Schemes - A bonus that regularly rewards you for your performance.
- A pension of up to 12% - We will match your contributions up to 6% of your salary.
- Our award-winning Vitality health insurance - With its own set of rewards and benefits.
- Life Assurance - Four times annual salary.
These are just some of the many perks that we offer! To view the extensive range of benefits we offer, please visit our careers page.
Fantastic Benefits. Exciting rewards. Great career opportunities!
If you are successful in your application and join us at Vitality, this is our promise to you, we will:
- Help you to be the healthiest you've ever been.
- Create an environment that embraces you as you are and enables you to be your best self.
- Give you flexibility on how, where and when you work.
- Help you advance your career by playing you to your strengths.
- Give you a voice to help our business grow and make Vitality a great place to be.
- Give you the space to try, fail and learn.
- Provide a healthy balance of challenge and support.
- Recognise and reward you with a competitive salary and amazing benefits.
- Be there for you when you need us.
- Provide opportunities for you to be a force for good in society.
We commit to all these things because we want you to feel that you belong, and are supported to be happy and healthy.
About The Company
We're really excited to announce that we have recently been awarded "Top 10 Best Places To Work" in The Sunday Times Awards 2024! Vitality is a multi-award-winning UK insurance brand, here to make the world a healthier, happier place. We've been a purpose and values-driven business from day 1 - long before it became fashionable. Our core purpose is to make people healthier and enhance protect their lives. Vitality pioneered shared-value insurance. We incentivise people to live healthier longer lives - they benefit, our business benefits, and society benefits. We're successful because we attract, develop, and retain the best people - and because we care.
Plus, you get to join our 1.7+ million members with access to our unique health insurance and healthy living programme. Just to make sure you know our products inside and out.
Ready to find out if we're the right fit for you? We can't wait.
If we are fortunate in receiving a high volume of quality applications we may need to close this vacancy early. If you are interested, please submit your application as soon as possible.
Third Party Risk Analyst - 12 Month FTC in Bournemouth employer: Vitality Corporate Services Limited
Contact Detail:
Vitality Corporate Services Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Third Party Risk Analyst - 12 Month FTC in Bournemouth
✨Tip Number 1
Network like a pro! Reach out to current or former employees at Vitality on LinkedIn. A friendly chat can give you insider info and maybe even a referral, which can really boost your chances.
✨Tip Number 2
Prepare for the interview by diving deep into the role. Understand the Third Party Risk Management Framework and think of examples from your past experiences that showcase your analytical skills and problem-solving mindset.
✨Tip Number 3
Show off your attention to detail! During interviews, be ready to discuss how you've managed risks in previous roles. Use specific examples to demonstrate your proficiency with risk tools and systems.
✨Tip Number 4
Don’t forget to follow up after your interview! A quick thank-you email reiterating your interest in the role and highlighting a key point from your conversation can leave a lasting impression.
We think you need these skills to ace Third Party Risk Analyst - 12 Month FTC in Bournemouth
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Third Party Risk Analyst role. Highlight your analytical skills and any experience with risk tools and systems. We want to see how you can bring value to our Procurement team!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your problem-solving mindset aligns with our mission at Vitality. Let us know what makes you the perfect fit!
Showcase Your Attention to Detail: In this role, attention to detail is key. Make sure your application is free from typos and errors. We appreciate candidates who take the time to present their best selves, so double-check everything before hitting send!
Apply Through Our Website: We encourage you to apply through our website for the best chance of success. It’s straightforward and ensures your application gets to the right place. Plus, you’ll find all the info you need about the role and our amazing benefits!
How to prepare for a job interview at Vitality Corporate Services Limited
✨Know Your Risk Tools
Familiarise yourself with the risk tools and systems mentioned in the job description. Be prepared to discuss how you've used similar tools in the past, and think of examples where your analytical skills helped identify or mitigate risks.
✨Showcase Your Problem-Solving Skills
Prepare to share specific instances where you've successfully solved problems related to third-party risk management. Use the STAR method (Situation, Task, Action, Result) to structure your answers and highlight your detail-oriented approach.
✨Understand Vitality's Values
Research Vitality’s core values and mission. During the interview, express how your personal values align with theirs, especially regarding health and well-being. This shows that you’re not just a fit for the role, but also for the company culture.
✨Ask Insightful Questions
Prepare thoughtful questions about the team dynamics, the Third Party Risk Management Framework, and how success is measured in this role. This demonstrates your genuine interest in the position and helps you assess if it's the right fit for you.