Head of Third Party Risk Management

This role is responsible for facilitating, co-ordinating and overseeing the implementation and operations of the Third-Party Risk Management Centre of Excellence (CoE) within the OML Contracts and Sourcing environment. This role is also responsible for the operational and tactical management of a team of specialist staff/ Team Leaders within the CoE. The incumbent will be an active member of the Contracts and Sourcing leadership team and escalates, monitors and reports material risks to the Head of Contracts & Sourcing, applicable Exco, Audit, Risk and Compliance Committees, and various risk boards with the primary objectives of contributing to the overall success and achievement of the CoE objectives. The incumbent is individually accountable for achieving results through staff supervised over periods of 1-2 years.
- Accountable for the setup, management, reporting, maintenance and performance of the Third-Party Risk Management Centre of Excellence (CoE) within the Contracts & Sourcing function.
- Provides objective oversight, monitors and reports on the effectiveness of the processes adopted and implemented by the CoE in relation to the Risk Governance Frameworks, including the Group Operating manual, Risk Policies and other applicable policies.
- Provides objective oversight, monitors, reports, maintenance, and development of prescribed minimum standards for the third-party risk management frameworks, methodologies, processes and data requirements, and initiates appropriate corrective action as may be required.
- Promotes and co-ordinates the processes by which the CoE identifies, measures, monitors, manages and reports on material risks within its functional area of responsibility, while developing a cross-organisational view of the potential impacts.
- Provides third-party risk management advice and inputs to the applicable executive team and attends key strategic and operations meetings of that executive team, thereby ensuring that they have appropriate knowledge and insight into the key risks of the business.
- Provides training, coaching, mentoring and support to the CoE staff members and colleagues within the wider group who are overseeing third-party risk management.
- Provides training, coaching, mentoring and support to controls owners, risk indicator owners, management action owners and risk co-ordinators, so they are enabled to fulfil their risk management responsibilities in relation to Third-Party Risk Management.
- Accountable for the 3rd party inventory and all related data inputs, coordination, maintenance, and updates.
- Acts as change agent within the business for the communication and implementation of third-party risk management requirements and standards, and actively promotes embedding of a third-party risk culture through the CoE in relation to decision making.
- Facilitates and co-ordinates the integration of the business-related third-party risk requirements into the broader governance structures, by initiating relevant discussions and meetings, and ensuring the evidencing of key risk-related decisions.
- Facilitates the execution, monitors and reports on the progress, of any requests and instructions issued by the Head of Contracts & Sourcing, applicable Exco, Audit, Risk and Compliance Committees, and various other risk boards, and initiates appropriate corrective action as may be required.
- Accountable for the CoE staff output, delivery, execution and overall performance against the designated frameworks and executive targets.
- Responsible for cost / expense management for the CoE.
- Optimises the execution, efficiency, overall performance and maturity of the CoE.
- Has the accountability of all third-party risk types, mainly focused on business and operational risks related to third parties.
- Individually accountable for service delivery through efforts of a team of
- senior specialists/team leaders. Accountable for others' time, task and output quality.
- Balances own priorities with directing and motivating others. Plans and assigns work over targeted periods.
- Guides and directs staff to achieve operational excellence standards. Creates a climate for optimal performance.
- Manages performance.
- Selects potential staff to sustain customer/client service delivery.

**Qualifications**:

- Minimum 6 years risk management experience
- Degree
- Professional Qualification
- Knowledge and experience of third-party risk management principles and practices, including legal and regulatory requirements. (advantageous)
- Experience with third-party risk management tools (advantageous)
- Third-party risk management certification and/or qualification (advantageous)
- Experience and understanding of third-party contract negotiations, procurement, risk and compliance management, change management, project management (advantageous).
- Requires a reasonable level of understanding of the quantitatively modelled or calculated risks, general risk management methodology, and how this intera