Third Party and Outsourcing Account Manager
Location: London (Hybrid)
Third Party and Outsourcing Account Manager – Hybrid working | Competitive base + Circa bonus!
Our client, a Pension Fund on the buyside are looking to hire a Third Party and Outscoring Account Manager! They have strategic growth plans to double to this within the next few years. Our client are a very dynamic business with a super collaborative, well connected culture.
- The TP&O Team is a developing group with our client.
- The role will report to the Head of the TP&O Department.
- The role will be integral to supporting the business in managing and monitoring their Third Party supplier relationships, by providing the correct information and insight as well as maximising Third Party value (service value and commercial value) to the organisation.
- The team will (initially) be 6 people and this role is to be a new team member.
Activities in respect of the management of Third Party suppliers:
Negotiation and Relationship Management. All team members:
- Are assigned and lead the negotiation (and re-negotiation) process through onboarding, and the continued relationship for their Third Partiers; that they maintain a portfolio of Vendors and new Vendors (as assigned by Head of TP&O).
- All on-boarding, and Third Party selection follows organisational standards and governance.
- Are responsible and accountable for performance management of a number of Third Party relationships, deploying strategies to extract excellent performance, as required.
- Hold third parties to account on performance, including critical reviews of service levels and capability.
- Manage contract reviews and make recommendations for contract changes.
- Work in partnership with Legal, Finance, IT, HR, Third Party Sponsors and other teams throughout the negation and relationship management.
Maximise Third Party Value and Service. Ensure that we:
- Drive continuous improvement of Third-Party performance (for those assigned)
- Drive value from contracts by establishing, implementing and following robust performance management approaches with third parties and across the TP&O landscape.
- Recommend contractual changes to support service evolution during contract reviews (in co-ordination with legal, Sponsors and other stakeholders).
Third Party Information Management & Reviews. Manage and ensure the TP&O Team:
- Establish and maintain Third Party profiles and data.
- Support the evolution of the TPM (Third Party Management) performance management framework, covering internal and external dimensions, including external performance management guidelines and templates by Third Party category (customer, IT, investments, etc.)
- Establish, implement and follow a regular cadence of reviews for third parties.
- Gather historical metrics (for review with Relationship Owners) to assist in the renewal assessment process.
- Review Service and Supplier Risk Assessments for new and existing third parties, in accordance with the Risk Framework
- Implement, continually improve and follow the performance management framework, related governance activities, Third Party selection and on-boarding processes.
- Perform system administration activity tasks to ensure all attributes are up to date and accurate.
- Actively support and embedded critical and high review processes.
System & Issue Management. Manage and ensure the TP&O Team:
- Escalate issues to the TP&O forum, and/or the Relationship Owner, as required.
- Ensure effect reporting, Management information and analytics are provided for the department.
- Produce and monitor performance metrics – follows up outstanding actions with Relationship Owners
- Review, investigate and track to closure any TP&O material issues identified.
- Ensure strong people Management and Third-Party Allocation to team members.
- Support and provide team training and guidance of best practices and decision making.
- Encourage active team engagement and ideas sharing.
- Team is focused on Advisory activities to the Business; each team member is assigned a department to engage as Business Partners
- Ensure the team take the lead in following our processes and framework.
- Attend (as determined by the Head of TP&O) Architecture Review Board to determine any impact to third parties.
- Maintain a standardised set of tools for use in Third Party selection processes (e.g., Third Party questionnaires, score cards, etc.)
- Establish and support ongoing market benchmarking to set targets across the performance management framework.
- Create additional value, e.g., by recommendations for consolidation of third parties, cost comparisons to market benchmarks, etc.
- Support the implementation of a 4th Party process
- Ensure TP&O is an active participant in Operational Resilience
- Facilitate the TP&O Forum ensuring it is fully prepared in advance and minutes recorded.
Person Specification – Knowledge, experience, skills and abilities (technical competencies)
- Direct industry experience in managing & monitoring of Third Parties
- Awareness of Data Privacy and/or GDPR
- Experienced in managing SLAs and KPIs
- Experienced in developing effective Business relationships, particularly with Third Parties
- Ability to interpret and leverage key Commercial principles within contracts.
- Strong communication and negotiation skills
- Ability to communicate at all levels (including Legal, Finance, Executive)
- Ability to work within a regulatory framework.
- Ability to respond to tight deadlines and to work well under pressure.
- Collaborative and supportive in nature
- Strong customer ethos and focus
- Good attention to detail
If you are looking to join a rapidly growing FS company within their TP&O team and add significant value to their targeted growth at a senior level then this is the role for you.
Apply below or contact us directly!
Thomas@weareorbis.com | Patrick@weareorbis.com