Outsourcing Oversight Specialist - Payments - Senior Associate

Job Description
We have an exciting opportunity at J.P. Morgan Mobility Payments Solutions in Strassen, Luxembourg - the joint venture of Volkswagen Financial Services AG and J.P. Morgan.
As an Outsourcing Oversight Specialist, you will ensure that all policy requirements with regards to the implementation and monitoring of outsourced activities are met. Through collaboration with internal teams, you will identify the need for third-party engagement, select appropriate partners, and initiate relationships. A key part of your role will be to manage the entire third-party lifecycle, including evaluating, onboarding, reviewing, maintaining performance, and disengaging vendors, while collaborating with functional leads for all vendor stages.
This role reports into the Chief Operating Officer of JP Morgan Mobility Payments Solutions.
Job responsibilities:

• Maintains a comprehensive register of all third parties, regardless of outsourcing status or annual spend, ensuring accurate and up-to-date records.
• Works closely with the Legal team to manage all contracts and Service Level Agreements (SLAs), ensuring alignment with risk ratings and criticality
• Updates and shares the Risk Assessment template with local contacts, pre-populated with relevant administrative and contractual details
• Coordinates risk assessments and notifications with local owners, finance, compliance, legal, and third-party teams to ensure thorough evaluation
• Organises and stores all required documentation for each third party, including risk assessments and contracts, in dedicated folders to ensure easy access and currency
• Partners with local contacts to conduct ongoing monitoring of third parties, including periodic performance reviews, Key Performance Indicators (KPIs), and due diligence
• Ensures adherence to Third-Party Management and Oversight Policy, promoting best practices and compliance across the organisation
• Proactively escalates any performance issues or non-compliance with procurement standards to the Management Board for resolution
• Assists in the integration and utilization of internal tools dedicated to third-party and inter-affiliate management
• Serves as a subject matter expert in evaluating potential vendors based on expertise, reliability, cost, and alignment with organizational strategy and needs
• Designs and implements strategic initiatives to achieve third-party function objectives, including regular reviews, maintaining the vendor register, and following up on vendor scorecards

Required Qualifications, Skills, and Capabilities:

• Experience in Outsourcing, Vendor Management, Business Management, or related roles
• Hands on approach to drive transactions and deals on Micro Level as well the ability to think through, design and delivery on strategic plans (Macro level)
• Outstanding listening, negotiation, communication and influencing skills to operate in a matrix organisation
• Expert in written and verbal communication in English with the ability to present in front of senior management and influence desired outcome
• Highly organized who drives in a fast-paced environment to manage several priorities and contacts across multiple partners internal to Global Sourcing Services and to the larger firm at the same time
• Excellent business judgment, particularly the ability to proactively monitor engagements to address issues early, performing root cause analysis to develop solutions
• Strong business acumen and analytical skills as well as experience in drafting commercial agreements and schedules in partnership with Legal

About Us
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world's most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
About the Team
J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.