Third-Party Risk Management Lead, Procurement Team

This role is part of the Procurement team, responsible for leading the delivery of the supplier risk management framework in line with commercial policies and providing challenge to the people performing contract/supplier management in the business areas. Our objective is to drive consistency, repeatability and to support continuous improvement of third-party risk management practices.,

• Leading the creation and implementation of the third-party risk management strategy to ensure effective coordination of third-party risk management throughout the procurement lifecycle across the organisation in line with existing commercial policies.


• Leading the engagement with Risk and subject-matter experts in the various risk areas to influence how the Bank approaches and manages third-party risk and agreeing roles and responsibilities.


• Engaging the Bank's supplier management community, advising and guiding on third-party risk management best practice from both a strategic and operational viewpoint (including supply chain risk).


• Collaborating across the Procurement team to ensure third party risk management is integrated in the Bank's procurement and supplier management processes.


• Leading the development and implementation of third-party risk management training tailored to the various levels of commercial maturity across the organisation by collaborating with the subject-matter experts across the Bank.


• Leading the creation, implementation and maintenance of engagement guidelines to ensure subject-matter experts are engaged at the right point in the procurement lifecycle.


Your main stakeholders will be the risk subject-matter experts across the Bank, the supplier management community and the Procurement team. This role reports into the Senior Commercial Policy and Supplier Management Lead.


• Demonstrable experience of leading the design, implementation and embedding of third-party risk management across an organisation within a regulated environment. This should include:

+ The creation of or update of the relevant policies, processes and governance controls.
+ The design and implementation of associated training programmes aimed at a wide audience with varying levels of risk expertise.

• Ability to synthesise data from a variety of sources.


• Experience of producing risk-related reports for senior management up to C-suite.


Behavioural capabilities:

• Demonstrable influencing and stakeholder management skills, with the ability to challenge at various levels and build constructive relationships.


• Strong organisational, planning and time management skills.


• Ability to conceptualise and solve problems.


• Excellent written and oral communications skills, with the ability to present and communicate clearly and succinctly at all levels.


• Self-motivation, with the ability to work both on your own initiative and as part of a team.


It would be advantageous to also hold or be working towards a professional risk qualification (such as Financial Risk Manager, Professional Risk Manager, Chartered Enterprise Risk Analyst, Certified Enterprise Risk Management Professional, Certified Risk Manager or Certification in Risk and Information Systems Control). The Bank values diversity and inclusion - we want to reflect the society we serve better; we want the best people to work for us and we want our workplace to be inclusive. We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way we support diversity and inclusion is through our staff run networks.

The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.

At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it's by drawing on different perspectives and experiences that we'll continue to make the best decisions for the public.

We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed.

For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.

We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.

This role offers a salary of circa £65,755 - £72,000. In addition, we also offer a comprehensive benefits package as detailed below:

• A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.


• A discretionary performance award based on a current award pool.


• A 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.


• 26 days' annual leave with option to buy up to 12 additional days through flexible benefits.


• Private medical insurance and income protection.


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