A Third Party BAO Support Group Manager is a specialized leadership role within the domains of vendor management, operational risk, and governance, primarily in large, regulated organizations. This profession centers on establishing and overseeing a dedicated support function that guides internal business clients through the complex lifecycle of managing external third-party relationships. Professionals in these jobs act as a crucial bridge between an organization's Third-Party Management (TPM) policy and the Business Activity Owners (BAOs) who are accountable for day-to-day vendor relationships. Their core mission is to ensure robust risk management and consistent compliance while enabling operational efficiency. Typically, individuals in this role manage a team of specialists responsible for the end-to-end third-party management process. This includes guiding BAOs through critical stages such as initial supplier risk assessments and due diligence, contract onboarding, ongoing performance and risk monitoring, and offboarding. A primary responsibility is to provide expert process guidance, quality assurance, and control oversight to ensure all TPM activities are completed accurately and on time. They develop and implement standardized procedures, desktop guidelines, and best practices to create a globally consistent approach to third-party risk management. Furthermore, managers in these positions are tasked with tracking key performance and risk metrics, managing a large portfolio of third-party files, and driving the remediation of any identified control gaps or issues. To excel in these jobs, a specific blend of skills and experience is required. A strong foundational knowledge of third-party management regulatory requirements and industry-standard control frameworks (like ISO, COSO, or OCC guidelines) is essential. Experience in vendor management, operational risk, audit, or a related control function is highly typical. The role demands exceptional leadership and people management skills, as it involves building, mentoring, and leading a potentially virtual, global team. Analytical and problem-solving abilities are crucial for interpreting risk data and developing efficient processes. Given the need to influence without direct authority, superior communication, stakeholder management, and influential skills are paramount to effectively guide senior BAOs and collaborate with subject matter experts in areas like data privacy and business continuity. Candidates often possess a bachelor’s degree in business, finance, or a related field, with advanced degrees or certifications in risk management being a significant advantage. Proficiency with standard business software and a detail-oriented, proactive mindset are common requirements for success in this critical governance profession.
