Lead Third Party Engagement Manager
Location - London
Daily rate - £522.50/day PAYE £670/day Umbrella
Start date - ASAP
Contract - 6 Months+
Our financial services client is currently seeking a Lead Third Party Engagement Manager to join their team due to additional workload within the department. The Lead Third Party Engagement Manager (Lead TPEM) is an HSBC colleague from a Global Business, Global Function, Region or Country responsible for the management of a specific Third Party relationship when there are multiple engagements with the same Third Party. If only a single engagement exists for a given third party, the TPEM as recorded in Archer will perform formal Lead TPEM responsibilities.
The Lead TPEM seeks to increase the overall value that HSBC and the Third-party derives from a given third party relationship through continuous alignment of the third-party's capabilities to HSBC requirements. A Lead TPEM will perform a third party advocacy function by promoting the third party's usage where their specific capabilities align to a given HSBC opportunity. Assuming a third-party maintains its strategic and critical importance, key measures of the Lead TPEM's success and effectiveness measures include the third party's usage growth over time; increasing the overall service delivery performance & customer satisfaction; high quality risk assessment and mitigation.
The Lead TPEM will be responsible for managing the overall relationship with the third party across multiple IT business areas and incrementally improving the supplier management effectiveness against the 4 pillars to include: risk management, performance management, cost and commercial management and relationship management. The role will form part of the Third Party Management Team and will be accountable for effective delivery of activities defined on the attached RACI.
- Review or update supplier management practices in accordance with new or changing environmental policies, standards, regulations, or laws.
- Develop opportunities and routes to market to maximise value for both parties.
- Provide Technology supply chain assistanceto help facilitate internal and external discussions.
- Collaborate with other functions, such as Procurement, Legal etc. to continue the qualification of suppliers.
- Develop, implement or leverage procedures to evaluate suppliers across the four pillars of risk, performance, cost & commercial and relationship
- Develop and report with standard collateral
- Develop procedures for coordination of Third Party Management with other GBGFs
- Holding regular meetings with the Third Party to review holistic relationship and ensure minutes are documented with any actions/decisions agreed
- Implement the Account Plan that supports Technology strategies adapted to changing market conditions, new business opportunities, or cost reduction strategies.
- Reviewing the Supplier Performance Dashboard in order to obtain oversight of the aggregated Supplier Risks and Performance RAG status over all the engagements with same Third Party.
- Sharing the Supplier Performance Dashboard with key stakeholders
- Assess appropriate Third Party staffing levels (where relevant) to ensure performance and efficiencies.
- Appraise supplier capability through defined measurements.
- Establishing and agree additional KPIs with the Third Party
- Monitor supplier performance to assess ability to meet quality and delivery requirements.
- Monitor and identify changes to determine effect of activities with suppliers.
- Facilitate Exec level reviews and meetings with suppliers to discuss performance metrics and provide performance feedback, strategies and value-add, market awareness, risk profile and discuss forecasts or changes.
- Developing a plan to improve service provision and create opportunities for growth
- Performance - Analyse information about supplier performance or commercial success and provide remedial plans where required
- Must have experince working with Tier 1 Technology Vendors
- Must have Financial Services/Banking experience
- with supplier relationship management (10 plus years), risk management, performance management and cost and commercial management including cost reduction / optimisation programmes.
- with IT Infrastructure platforms / technologies, execution of IT vendor management policies
- have deep knowledge of Technology and knowledge Third Party Management systems.
- Management of Major Tech/Banking Suppliers
- with Wholesale/Markets Supplier Management - Preferred
- Services/Banking Experience
If you think you are up for the task and feel you meet the above criteria or interested to hear more information, please contact me on 0161 503 5530 /