Procurement and Third Party Risk Analyst - Third Party Risk and Regulatory Compliance Projects

ABOUT US

Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Copenhagen, Miami, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website www.chaucergroup.com

Job Profile Summary

Working as part of Chaucer’s Procurement Group, this role will support the Procurement Operations Tower in the implementation of the Outsourcing and Third Party Risk Management frameworks.

Job Description

• The role holder, working closely with Chaucer’s Third Party Risk and Relationship Manager and Procurement Operations team, will play a key role in supporting operational and project activities. This will include maintaining documentation, and supporting the development and implementation of frameworks and controls aligned with regulatory requirements, particularly in relation to material outsourcing, third-party risk, and supplier tiering.
• The role holder will also be expected to work across Chaucer’s Procurement Operations activities, working with and supporting colleagues as necessary.

Job Responsibilities

• Coordination and tracking of project deliverables, timelines, and milestones related to Chaucer’s Third Party Risk Management Framework implementation for Procurement operations.
• Support the development and maintenance of the firm’s Outsourcing Register and documentation of materiality assessments in line with Regulatory standards and expectations.
• Analyse data on third-party arrangements to support Chaucer’s Procurement Team’s work on supplier tiering, risk classification, and material outsourcing assessments.
• Contribute to the drafting and review of policies and procedures related to: Outsourcing governance and insurance-specific regulatory obligations, Third-party risk management frameworks, Business continuity and exit planning, Data security, audit rights, and sub-outsourcing.
• Liaise with internal stakeholders (e.g. Underwriting, Claims, Legal, Procurement, IT, Risk, Compliance and Business Resilience Teams) to ensure alignment with regulatory expectations.
• Assist in preparing materials for governance forums, regulatory submissions, and internal audits.
• Maintain accurate records of decisions, actions, and risks.
• Monitor regulatory updates and industry best practices relevant to procurement, outsourcing and third-party risk in the insurance sector.

Skills and Competencies

• Experience working in the financial services sector, with a strong preference for experience in insurance (e.g. Lloyd’s market, specialty, and reinsurance).
• Experience working in Procurement and Supplier management.
• Demonstrable experience in a project support, regulatory change, or compliance role.
• Good working knowledge of third-party risk management frameworks, including risk assessment, due diligence, and monitoring.
• Understanding of the implications of material outsourcing in insurance, including governance, contractual requirements, and operational resilience.
• Familiarity with supplier tiering models and how they relate to risk-based oversight.
• Strong organisational and administrative skills, with attention to detail.
• Excellent communication and interpersonal skills, with the ability to work across functions.
• Proficiency in Microsoft Office (Excel, PowerPoint, Word, Project or equivalent tools).

Education

• Degree or equivalent qualification in a relevant field (e.g. Business, Risk Management, Law, Insurance, or related discipline).

Why Join Chaucer?

An established market leading Insurer, where over the past 5 years, the Chaucer Group has seen significant and successful growth. In 2019, we wrote $1.4bn of Gross Written Premium, closed 2023 with $2.7bn, and are on track to write well over $3bn in 2024.

This is an exciting time for Chaucer; we have the people, the platforms, the expertise and the relationships to continue our recent success. We will remain focussed on the areas where we can provide the most expertise and value to our brokers and clients.

We offer:

• A flexible 2 days in the office hybrid work model that supports individual and team needs.
• A diverse, inclusive culture that values people for who they are.
• Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.