Handelsbanken
Operational Risk Manager - Third Party Risk Management
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Job Introduction
Handelsbanken is a relationship bank built on trust, long-term thinking, and local decision-making. We provide bespoke banking and wealth management services to personal and corporate customers.
Our decentralised model means decisions are made close to the customer, in our branches. Our central Functions teams play a vital role in supporting the branch network, providing the expertise, governance, and infrastructure that enable branches to serve customers effectively and sustainably.
This approach has underpinned our success for decades. Handelsbanken is independently recognised as one of Europe’s safest commercial banks, holds the strongest credit rating among its peers, and is consistently ranked highly for customer satisfaction and relationship banking.
Our culture is values-led, shaped by trust, respect, and long-term thinking. We empower our people to use their expertise, make confident decisions, and build long-term careers. We look for people who share our long-term vision, want to grow, and want to make a meaningful impact in their local community and with the Bank.
We also recognise that flexibility can support people to perform at their best, and that it looks different for everyone. While arrangements will depend on the requirements of the role and the needs of the business, we are open to having a conversation around what flexibility could look like for you.
Check our Handelsbanken website for further information.
The Opportunity
The Operational Risk Team has responsibility for operational risk controls within Handelsbanken UK, ensuring a comprehensive and objective view of all risks in the Bank’s business operations and providing independent assurance to the UK CEO that the business is identifying and managing risks adequately.
The Operational Risk Manager works within an experienced risk management team which is responsible for providing high-quality analysis, advice, guidance, and assurance on the management of operational risk to ensure the business complies with relevant policies, frameworks, and regulatory expectations.
The team is responsible for the development and implementation of the Non-Financial Risk Management Framework (NFRF) and associated processes and tools. They are responsible for overseeing, reviewing, and challenging risk assessments and risk management activities as well as promoting consistency and best practice in the application of the NFRF across the Bank. They are also responsible for undertaking control assurance, which is key in helping the business to understand its inherent exposure to risk and overall effectiveness of the control environment.
Key Responsibilities
Role
The Operational Risk Manager – Third Party Risk Management lead will be a subject matter expert in third party risk management reporting to the Head of Operational Risk. The role works closely with the Operational Risk team, 1LoD counterparts, and Group colleagues to ensure that the bank is compliant with regulations covering third party risk management. They will help set foundations for building third party risk management capabilities in the second line and support the embedding of good third party risk management practices across the bank. These activities include but are not limited to:
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- Framework & Policy Ownership: Develop and maintain the bank-wide Third-Party Risk Framework as a sub-framework of the NFRF and review/approve associated policies managed by 1LoD, ensuring alignment with regulatory changes and the bank's risk tolerance.
- Risk Tolerance & Monitoring: Establish and calibrate risk tolerances, Key Risk Indicators (KRIs), and escalation thresholds for third party risk. Work collaboratively with 1LoD to monitor and report third party risk exposure against management limits and Board risk tolerance, taking into account emerging risks and trends.
- Independent Challenge & Assurance: Provide rigorous 2LoD challenge to first-line (1LoD) risk assessments, materiality classifications, and initial supplier onboarding proposals. Execute independent second-line assurance reviews, deep dives, and targeted risk controls testing on high-risk and material outsourcing arrangements.
- Regulatory Compliance: Maintain ongoing alignment with PRA SS2/21 and FCA/PRA Operational Resilience rules (SS1/21), monitoring third-party impacts on important business services.
- Risk Culture: Build and maintain relationships with key business/other relevant stakeholders (i.e. Group, SMEs) to be a trusted advisor/partner.
- Operates in line with the Bank's Risk Management framework (including sub-frameworks) and relevant risk and compliance policies and procedures, ensuring appropriate and timely escalation of any concerns to their line manager.
Attend, where required, governance and risk forums representing the Operational Risk Team on third party risk management matters; Provide advice, guidance, and support on third party risk management to the 1LOD (business functions) across the Bank; Develop and provide training and awareness on third party risk management framework components, processes, tools, and systems across the Bank.
What We’re Looking For
Research (by Harvard University) shows that women are particularly likely to second guess themselves and not apply - so if you are worried you don't meet all the criteria, get in touch anyhow and let us do the worrying…
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- Demonstrate a sound understanding of the UK and International regulations relating to third party risk management
- Experience of third party risk management, controls, and oversight in the Financial Services Industry (either within first line, second line or Internal Audit)
- Experience in the delivery and facilitation of control testing or broader control assurance experience (2LOD/3LOD)
- Demonstrate strong communication skills, both written and verbal including being able to translate risk matters to non-risk professionals in a clear or simple way
- Be a team player and be able to build and manage strong relationships with internal stakeholders
- Be approachable and also be proactive to engage with the business
- Be comfortable challenging and influencing stakeholders including senior management
- Balance the risk and reward and being prepared to make a decision/recommendation
- Provide an independent view of risks and be prepared to express them
- Work on their own initiative and enjoy the responsibility of leading and delivering outcomes
- Desirable to have a good understanding of Handelsbanken business operations and culture
- Work in an organised yet flexible manner and able to prioritise tasks efficiently
Why Join Handelsbanken
We want everyone at Handelsbanken to feel supported, motivated, and able to do great work. That’s why, alongside brilliant colleagues, meaningful work, and training and development opportunities, we provide a variety of benefits designed with your wellbeing in mind.
In addition, there is a flexible benefits package with the key highlights detailed below.
Application Next Steps
Your journey with us begins once you have submitted your application. One of our Handelsbanken Talent Acquisition Partners will be reviewing your details and will later organise a phone conversation if your experience aligns with our requirements; we will extend an invitation for you to participate in an interview.
This advert will be live for a minimum of two weeks. However, please note that after the two weeks, the closing date could change at any time depending on the number of responses received.
The Bank is deeply committed to embedding good equality and diversity practice into all of our activities. This is so that we are an inclusive, welcoming, and inspiring place to work that encourages everyone to apply, regardless of socio-economic background, age, disability, pregnancy and/or parental status, race (including colour, nationality, and ethnic or national origin), veteran status, marital and civil partnership status, religion or belief, sex, gender reassignment, or sexual orientation.
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