About the recruiter: Steven Fairlie has worked with Change Recruitment for over 4 years and specialises in mid to senior roles within the Investment and Asset Servicing Sector in Scotland. He offers a market leading service that truly consults with the clients and candidates to ensure only the best candidates are submitted to the right roles. Steven has evidenced his strong technical knowledge and ability to support candidates through the full process giving relevant and tailored advice that adds value and helps to gain an advantage on the market. Please have a look at his Linked In profile where he can also be contacted direct.
The Head of Vendor Due Diligence within the TPO team is responsible globally of all due diligence, establishing a scalable, cost effective and risk based programme of reviews of Operations service providers and key suppliers in line with the Group Outsourcing Framework and outsourcing regulations. The compliance oversight of any given third party involves a wide range of functions, including operational, contractual, financial and legal, as well as different business groups (front office, business risk, credit risk). The role holder will establish and maintain effective interactions between these various stakeholders for Operations. He/she will be responsible for the completion of both corporate and service risk assessments and will plan and execute a risk based due diligence programme for operations third-party administrator/vendor and key suppliers throughout the relationship lifecycle, working with the Business experts across the service organisation.
Duties and Responsibilities:
Strategy & Governance Management - Help develop and maintain an effective organisational design for the Third Party Oversight department including clear articulation of roles and responsibilities that align to the Group's common culture and values. - Contribute to the development of a phased transformation plan for Third Party Oversight. Take a strong leadership position for the delivery of the plan within the Operations department and maintain good communication to all parties through the process. Manage the prioritisation of the work with the business units. - Creation and deployment of centralised supplier oversight platform with suitable due diligence workflow management system/tools. - Define the differing due diligence requirements for key service providers and suppliers to Operations and Funds/Mancos in partnership with the Functional team's and Risk Divisions to balance regulatory requirements with business risk appetite and how we present capabilities to clients.
Business & Line Management - Creation of service provider/vendor management oversight programme for operations capturing the lifecycle of the relationships, from inception through to exit planning, resiliency and termination approach and risk assessments in line with Group Policies. - Implement and roll out the Operations Group Oversight Framework establishing effective reporting to senior management and relevant committees on progress of plan. - Responsible for all escalations related to the due diligence activities, recording and collation and reporting of operational issues identified. - Establish and maintain outsourcer, service, location and oversight metrics. - Working with the TPO management team, document and maintain business continuity and disaster recovery plans of the Operations service providers/vendor/suppliers, contributing to the ongoing development and effectiveness of the plans in conjunction with the senior management team and other key staff. Work to ensure the overall team operates effectively. - Contribute to department budgeting, ensuring effective cost management; provide input for resources strategy, talent management programmes and performance measurement metrics for the department. - Ensure process flows are documented, identify areas for improvement and/or increased efficiency and manage appropriate remediation activity. Champion continual improvement of operational processes, encouraging the department to identify opportunities for simplification contributing to the transformation of the Operations department to a leaner, more agile structure.
Transformation & Change Management - Contribute to the development of a phased transformation plan for Third Party Oversight department globally across all asset classes/services. - Define the differing due diligence requirements for key service providers and suppliers to Operations and Funds/Mancos in partnership with the Functional team's and Risk Divisions to balance regulatory requirements with business risk appetite and how we present capabilities to clients. - Consolidate Outsourcing Risk Oversight Committee and Funds/MANCO outsourcing requirements and set the governance, oversight and due diligence plans to meet them. - Develop and maintain with TPO management team, governance and standardised approach on RFP/RFI/KYO for new vendors.
Background and skills required:
- Strong collaboration skills; flexibility and comfort with ambiguity are essential. Strong interpersonal skills and experience managing tension within a matrix environment are also important. Comfortable with taking responsibility and building, managing and developing team cultures whilst motivating staff. - Analytical - Excellent written and verbal communications with good Microsoft application skills. - Proven and demonstrable experience in asset management and corporate governance. - Sound understanding of risk and control framework is essential to being successful in the position, as it having an understanding of Risk Management principles and their application within organisations.
If you would like to be considered for this role please apply using the links