Address- Provide input and aid in the development of policies focused on managing risks involved with third-party business processes including Outsourcing arrangements
- Review and maintain the Outsourcing Governance Guide to ensure that outsourcing governance frameworks and requirements are relevant, current, and effective
- Perform outsourcing risk reviews to evaluate risks associated with outsourcing arrangements and assess service providers' ability to employ a high standard of care in performing the outsourced services
- Conduct third-Party Risk assessments (including Outsourcing arrangements) in alignment with the Bank's policies, Industry standards, and Regulatory Requirements
- Perform on-site/off-site assessments (Thematic Reviews) of vendors to identify opportunities for improvement
- Liaison with stakeholders (owner units of outsourcing activities) and key SMEs (Financial Crime & Security Services, Information Security Services, Group Business Continuity Management, Risk Management Group, Compliance) on risk and control matters including ad-hoc projects
- Work with service delivery managers to ensure compliance to outsourcing governance requirements
- Prioritise and implement system enhancements to support new outsourcing governance requirements and continuously improve existing system functions/ controls.
- Review and Challenge control monitoring plans, performing monitor activities and analysis of evidence to determine controls are operating effectively
- Monitor and report bank-wide outsourcing risks in periodic outsourcing risk forums
- Responsible for regulatory submissions and periodic updates to Board and Senior Management.
Required Experience:-
- At least 8 years of experience in for 3rd Party Risk Management (including Outsourcing Risk Management) financial institution with a large Branch Network.
- Knowledge of OR in Digital Products will be an added advantage.
