About The Role
We are looking for a
Third Party Risk Management (TPRM) Specialist to strengthen the governance and oversight of outsourcing arrangements across the organization. This role ensures that all third-party engagements comply with regulatory expectations, internal policies, and the bank’s overall risk management framework.
What You Will Be Doing
- Conduct comprehensive assessments of outsourcing arrangements to ensure that materiality, due diligence, risk evaluation, contingency, and exit management requirements are properly addressed.
- Evaluate the risk profiles of service providers and vendors, ensuring alignment with the bank’s risk management objectives.
- Review the annual outsourcing plan prepared by risk managers to confirm compliance with TPRM policies and guidelines.
- Collaborate with key stakeholders such as contract owners, Legal, IT, Procurement, and Business Continuity teams to identify, assess, and mitigate outsourcing-related risks.
- Advise contract owners on assessment outcomes, highlighting key risks, issues, or improvement opportunities.
- Contribute to the development and enhancement of TPRM policies, procedures, and guidelines in line with regulatory updates and organizational needs.
- Conduct periodic reviews, contract renewals, and vendor reappointment assessments to ensure continued compliance and alignment with the bank’s risk framework.
- Track and monitor the progress of outsourcing arrangements through designated systems, ensuring timely completion and accurate record maintenance.
- Manage and maintain comprehensive documentation for all outsourcing details, including risk assessments, contingency plans, vendor audits, and approvals.
- Perform thematic reviews based on established metrics and prepare detailed reports on key findings.
- Implement a comprehensive outsourcing arrangement lifecycle that spans the entire duration of a SP’s relationship, from onboarding to off-boarding, ensuring continuous monitoring and management on outsourcing arrangement.
- Support internal and external audits related to TPRM, coordinating evidence collection and responding to audit inquiries.
- Communicate effectively with stakeholders, providing clear and actionable insights related to outsourcing risk management.
- Work independently to manage BAU activities, prioritize tasks, and resolve issues with minimal supervision.
What We Are Looking For
- Bachelor’s degree in Risk Management, Finance, Business Administration, or a related field.
- Proven experience in third party risk management, vendor governance, or operational risk within the financial services industry.
- Strong understanding of regulatory requirements and industry best practices in outsourcing governance.
- Excellent analytical, problem-solving, and communication skills.
- Ability to manage multiple priorities and work effectively with cross-functional teams.
- Self-motivated and capable of working independently in a fast-paced environment.
Why Join Us
At RHB Banking Group, you’ll be part of a team that plays a critical role in safeguarding the bank’s operational integrity. You’ll have the opportunity to influence risk management practices and contribute to the continuous improvement of outsourcing governance across the Group.
