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Senior Risk Manager - Third Party Risk

United Kingdom, London · Job Posted July 02, 2026
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Job Responsibility

  • Provide independent oversight and effective challenge to first-line operational risk activities
  • Review, challenge and contribute to the Third Party Risk Management (TPRM) framework, policies and standards
  • Support the Head of Operational Risk in facilitating regular Risk & Control Self Assessments (RCSAs) with first line risk owners and stakeholders, ensuring the assessments are performed and documented accordingly
  • Oversee the management of delegated authority risk within Underwriting, Claims and Operations as part of the TPRM framework
  • Ensure consistent risk tiering and materiality assessments for all third parties
  • Review and challenge residual risk assessments, risk acceptances, and exceptions related to Operational Risk
  • Oversee integration of Third Party Risk into operational resilience, technology, cyber, and data frameworks
  • Support the implementation and maintenance of a robust control environment with clear ownership and accountability within the business, ensuring control documentation remains accurate and current
  • Develop and monitor key risk indicators (KRIs) and support risk appetite monitoring and management
  • Work collaboratively with 1st Line and Risk domain teams, supporting the embedding of the Operational Risk and TPRM framework into the organisation and across the 3 Lines of Defence model
  • Act as the appropriate liaison across the 3 Lines of Defence model, including 1st Line colleagues, Risk Owners, Compliance and Internal Audit functions, Operational Resilience, and risk domains including Information Security and Sustainability
  • Provide review, credible challenge and 2nd Line insights over 1st Line decision-focused risk reporting, dashboards, and actively participate in any thematic deep dives, with particular focus on Third Party and broader risk areas
  • Provide independent risk opinions on emerging operational risk themes
  • Investigate and report operational risk incidents, ensuring lessons learned are captured and implemented
  • Support ORSA, scenario testing, and stress testing, in particular where Third Party dependencies are classed as material
  • Identify systemic risks and concentration vulnerabilities related to TPRM
  • Challenge the quality, completeness, and relevance of first-line reporting and MI, ensuring they support effective risk management and align with risk appetite
  • Support compliance with regulatory expectations relating to third party, outsourcing and broader operational risks
  • Act as a second-line point of contact for regulators and Internal Audit
  • Ensure clear governance, escalation, and documentation of third-party risk decisions
  • Promote clear ownership and accountability across the first line
  • Promote a culture of good conduct within the Operational Risk team by demonstrating and communicating the expected levels of behaviour and integrity

Requirements

  • Degree level educated or an equivalent combination of education training and experience with third-party frameworks and industry standards
  • and/or relevant professional qualification (e.g., IRM International Certificate in Operational Risk, Practitioner Certificate in Information Management, etc.)
  • Proven third party risk expertise, preferably with knowledge of relevant standards such as ISO 27001, ISO 22301, NIST, and COBIT
  • A strong understanding of the Lloyd’s or wider company insurance market and frameworks is preferable
  • Knowledge and experience of risk management frameworks and tools
  • Demonstrate effective understanding of relevant TPRM regulations for a global organisation operating across the UK, EU, US and Asia
  • Understanding of the commercial drivers and dynamics affecting risk decisions in the insurance sector, as well as operational and risk processes found within an international insurance group
  • Ability to build strong partnering relationships with a wide range of stakeholders, in particular the 1st Line TPRM team
  • Ability to interact professionally and with credibility and manage expectations of management and key stakeholders
  • Ability to manage time, meet deadlines and prioritise
  • Able to communicate effectively with others
  • Ability to build and track remediation plans where deficiencies are identified
  • Proficiency in Microsoft 365 apps
  • Experience of working in a global and fast paced business environment is essential
  • Experience of Committee and Board reporting
  • Application of risk-based judgement
  • Influencing and trusted advisor
  • Flexible
  • Energetic, enthusiastic and positive
  • Team player
  • Self-motivated with the ability to work autonomously
  • Proactive
  • Strong prioritisation skills
  • ability to meet deadlines and manage stakeholders’ expectations
  • Highest degree of integrity / discretion
  • Strong written and verbal communication skills
  • Analytical
  • Attention to detail, with ability to see bigger picture
  • Ability to challenge, negotiate with, influence and persuade both internal and external parties

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