Supplier Risk Manager

Procurement Heads is recruiting a Supplier Risk Manager for a dynamic and growing financial services group business.

A dynamic and growing financial services group operating in a niche pocket of the insurance market is recruiting a Supplier Risk Manager to establish and manage the supplier risk management framework. 
  
Working within a small but talented team with a relatively large spend profile, you’ll be responsible for all the tools, techniques, reporting, policies and processes pertaining to the risk activities within the procurement management framework (to include compliance, training and education). 
  
The business has a clear vision for the future coupled with a positive culture fostered by its people, and the role will offer you the opportunity to operate at the helm of a transforming organisation with excellent career-development opportunities. 
  
Based in the heart of London’s insurance district, the business operates a hybrid approach to working with people typically going into the office 1-2 days per week.
  
As Supplier Risk Manager, your key responsibilities will be:

  • Creating and managing the supplier risk management framework to include risk policy, guidelines, procedures and standards
  • Leading risk management activities throughout the procurement management framework and facilitating risk appetite management in sourcing activities to include risk assessment, risk register updates and risk reporting for existing and new suppliers
  • Accountable for compliance with the required regulatory and industry standards across sourcing management
  • Periodic reviews and mitigation management of all supplier risks, including contractual financial, and reputational risks, working collaboratively with sourcing and its key stakeholders
  • Ownership of PRA SS1/21 regulatory oversight reporting requirements
  • Driving the development of internal procurement procedures and templating (in collaboration with other business areas such as Group Risk, Information Security, IT, Compliance and Legal), ensuring alignment to relevant regulations and business needs to support effective supplier risk management and performance oversight 
  • Developing internal processes to ensure effective feedback loops from risk domains e.g., Data Protection and Cyber Security and developing and implementing the team approach to supply chain and fourth-party risk profiling
  • Supporting the delivery of procurement governance processes and internal control projects
  • Supporting the maturing of risk management, systems and tooling to enable data-driven insight and oversight of procurement and third-party risks
  • Acting as a focal point of knowledge on risk matters and in developing service owners in good practice supplier onboarding, implementation, supplier management, contract exit and assurance/due diligence
  • Delivering supplier risk education to the service owners specific to their day-to-day risk management activities

Skills and experience:

  • Significant (minimum of 5 years) procurement risk management experience, with a demonstrable track record of leading risk management frameworks
  • Knowledge of building and leading supplier risk management frameworks 
  • Knowledge and understanding of the end-to-end procurement process, including market analysis, tender management, category management, sourcing strategy development and supplier management
  • Contract law experience
  • Knowledge of project and change management
  • Supplier risk management practitioner with an outstanding track record of delivering procurement risk management excellence
  • Proven track record of risk-management-led problem-solving
  • Proven senior-level solution-driven/value-led approach with issue-resolution skills
  • Experience with cross-functional collaborative working methods
  • Ability to manage multiple complex projects simultaneously
  • Dispute resolution and change-management skill set
  • Outstanding communication and business-partnering skillset
  • Must be able to manage multiple workloads, conflict and complexity under pressure, and translate complex issues simply to be communicated effectively
  • Educated to a degree standard or equivalent work experience

Benefits of the Supplier Risk Manager role include:

  • £70-80,000
  • 20% bonus
  • 10% non-contributory pension
  • Private medical insurance
  • 25 days holiday