Third Party Risk Oversight Manager

At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns.

Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

The Role:

The M&G plc Non-Financial Risk (NFR) function is responsible for advising and challenging key stakeholders, proactive and effective risk oversight, and adding value through providing enhanced business insights to ensure risk is managed in line with expectations of clients, shareholders and regulators, and to support the delivery of customers’ long-term needs.

Within NFR, the Support Functions Operational Risk team coordinates and manages a range of risk management oversight and reporting processes across corporate and central functions.  This includes functions such as Finance, Technology, HR, Audit, Legal, Corporate Affairs, and Transformation.  It also includes group Operational Resilience and Third Party oversight.

The Third Party Risk Oversight Manager reports to the ‘Head of Operational Risk (Support Functions)’, leading and coordinating centralised oversight of business area adherence to our group-wide Third Party Risk Management and Outsourcing Policy (TPRMO). 

The role holder will be responsible for development of the 2nd line of defence Third Party Risk Management oversight approach, leading review and challenge on both the development of 1st line Policies, Standards and tooling, and reviewing how effectively it has been implemented.

The role holder will also work with Heads of NFR across our Life and Asset Management to support their oversight, and represent the NFR function at relevant senior executive and management level committees as appropriate, including our Third Party Oversight Forum.

Key Responsibilities for this role:

• Ensure compliance to the people policies, Group Code of Conduct and embedding desired behaviours in line with our Blueprint
• Be personally accountable for identifying, assessing, managing and reporting risks within your area of responsibility, including supporting formal risk management activities e.g. Risk & Control Self Assessments and timely closure of Assurance actions
• Lead as a Subject Matter Expert on Third Party Risk Management & Oversight, including relevant regulatory requirements, industry trends, and best practices. Maintain relationships with internal stakeholders, industry peers and regulatory bodies (as required).
• Represent NFR at Third Party Risk Management oversight forums and governance committees, risk forums or team meetings, and adopt a partnering approach with our internal clients and third party suppliers.
• Draw on experience and knowledge as Subject Matter Expert to implement the second line Third Party Risk Management Framework, and oversee implementation of the Third Party Risk Management Policy across M&G plc.
• Develop and maintain a relationship with 1st line commercial and third party management stakeholders that is positive, respectful and constructive including oversight of risk culture embeddedness.
• Further develop and enhance second line third party risk management information.

Key Knowledge, Skills and Experience:

• Significant knowledge of third party and intragroup supplier and outsourcer management processes and best practice frameworks in a large financial services business  (essential)
• Significant knowledge of operational resilience processes in a large financial services business  (desired)
• Significant knowledge of operational risk matters impacting third party management and oversight (desired)
• Knowledge of Contract Management and/or key regulatory frameworks impacting the relevant business area (desired)
• Strong presentation skills to senior management and stakeholders, with the ability to explain and articulate third party management and oversight concepts (essential).
• Strong written and verbal communication skills (essential)
• Self-motivated and able lead oversight, whilst working collaboratively with other teams across the three lines of defence (essential).
• Significant Third Party management or oversight experience, including embedding supporting frameworks, and across all stages of the third party lifecycle in either an Asset Manager,  Life Insurance business or financial services industry (essential)
• Experience in designing/implementing due diligence over third parties (pre/post contract) (desired)
• Experience in Operational Resilience and/or Operational Risk in either an Asset Manager or Life Insurance business (desired)

Qualifications:

• Relevant professional qualification (e.g. CIPS Certification, IRM Diploma in Risk Mgt, ACA, CIMA, ACCA, IIA) - (desirable)

Experience Level: Manager / Expert

Recruiter: Helen Simons

We have a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

M&G is also proud to be a Disability Confident Leader, and we welcome applications from candidates with long-term health conditions, disabilities, or neuro-divergent conditions.  Being a Disability Confident Leader means that candidates who meet the minimum criteria of a job, will be offered an interview if they 'opt in' to the scheme when applying. 

If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: [email protected]