Third Party Risk Manager

Job Type:

Contractor

Build a brilliant future with Hiscox

Supplier Risk Manager / Third Party Risk Manager

London OR York - Hybrid - 2 days per week in the office

12mth Contract

The Supplier Risk Manager sits within the Procurement Team and is responsible for contributing to and executing the supplier risk strategy, promoting supplier risk best practice, providing guidance and support across Hiscox to ensure the proactive and effective risk management of suppliers.

• Liaise with subject matter risk experts across the business to ensure they define the business's appetite in relation to third party suppliers
• Act as the main point of contact for business stakeholders and colleagues in Procurement alike on all things supplier risk management related and specifically ensure that due diligence of suppliers both at the point of initial purchase and thereafter is well coordinated and any actions agreed with supplier to mitigate a risk position is completed effectively.
• Have responsibility for the due diligence process, issuing initial requests to suppliers and subsequently arrange with SMEs, where appropriate for their review
• Monitor compliance with the Policies the function is responsible for identify, report and resolve any areas of non-compliance whether that be internally or externally.
• Develop a control environment for all high risk suppliers, including documenting their preventive and detective controls subsequently, build a testing monitoring programme to ensure the effectiveness of said controls.
• Support business stakeholders in the event of an issue or risk event in the supply chain.
• Working closely with colleagues in the business embed supply chain risk management by coaching, advising on supply chain risk matters, ensure that key controls are in place in operational areas to mitigate supply chain risk.
• Liaise with stakeholders when it is necessary to conduct assurance reviews of suppliers, develop a Terms of Reference and agree this prior to the review. Subsequently manage the review and agree any corrective actions which may be necessary with suppliers and stakeholders alike.
• Monthly reporting on supplier risk management for appropriate internal governance committees.
• Continually review supplier chain risk processes and controls. Make recommendations for improvements to senior management and implement these effectively when agreement is reached

Person Specification:

Are you awesome at supplier risk management? Do you enjoy identifying risks and developing controls? Do you like having a hands-on role, being at the forefront of setting up a new procurement function?

Skills & Capabilities:

• Proven experience of supplier risk and/or Third-Party risk management practices and oversight management within financial services or Insurance.
• Great experience at working with suppliers to resolve issues and improve practices
• Practical experience of devising controls and testing to ensure they are operating
• Good relationship management and networking skills and experience, required for both key stakeholder and supplier engagement
• In-depth knowledge of the supply chain process management to ensure optimum levels of Value are delivered.
• Dynamic and self-motivated style, with energy and ability to deliver at pace and drive change
• Strong attention to detail and capability to assess and mitigate relationship issues and commercial risk.
• Clear thinker with effective communication and influencing skills with good business and commercial acumen

About Hiscox

As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Diversity and Hybrid working

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance.

This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.

Apply now for further information


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