Senior Risk Manager - Third Party Risk

General

Job Title: Senior Risk Manager – Third Party Risk

Division: General Management – Risk & Compliance

Reports To: Head of Operational Risk

Key Relationships

First line internal stakeholders include Procurement and Vendor Management, IT, Data, Underwriters and Claims Managers. This includes supporting first line stakeholders in the management of operational risk and key TPRM-related regulatory relationships across the group. Second and third line stakeholders include the Risk Management team (Insurance Risk and Enterprise Risk Management team members), Risk Management Senior Leadership Team, Chief Risk Officer and wider team members of second and third line functions (Compliance and Internal Audit).

Job Summary

The role supports the Head of Operational Risk in the oversight and management of operational risk matters across the group, with a particular focus on third party risk activities. It is also responsible for providing independent second-line oversight, challenge, and assurance over the organisation’s management of risks, including those arising from third parties, outsourced services, and strategic suppliers.

The role has primary responsibility for the management of operational risks across a number of business areas, including Delegated Authority, Facilities Management and Talent Management. It also has a particular focus on the design, maintenance, and oversight of the group’s third party risk management framework, ensuring that third party risks are identified, assessed, monitored, and managed in line with the firm’s risk appetite, regulatory requirements, and operational resilience objectives.

Key Responsibilities

Risk Management Framework

• Provide independent oversight and effective challenge to first-line operational risk activities.
• Review, challenge and contribute to the Third Party Risk Management (TPRM) framework, policies and standards.

Identify systemic risks and concentration vulnerabilities related to TPRM.

Challenge the quality, completeness, and relevance of first-line reporting and MI, ensuring they support effective risk management and align with risk appetite.

Regulatory And Governance Responsibilities

• Support compliance with regulatory expectations relating to third party, outsourcing and broader operational risks.
• Act as a second-line point of contact for regulators and Internal Audit.
• Ensure clear governance, escalation, and documentation of third-party risk decisions.
• Promote clear ownership and accountability across the first line.
• Promote a culture of good conduct within the Operational Risk team by demonstrating and communicating the expected levels of behaviour and integrity.
  
  

FCA Conduct Rules – Individual Conduct Rules

• You must act with integrity;
• You must act with due care, skill and diligence;
• You must be open and cooperative with the FCA, PRA and other regulators;
• You must pay due regard to the interests of customers and treat them fairly; and
• You must observe proper standards of market conduct.
  
  

General

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers." We also expect Beazley employees to:  

• Comply with Beazley procedures, policies and regulations including the code of conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.