PFA Third Party Risk Management (1 year contract) at Prudential plc

, , Singapore -

Full Time

Start Date

Immediate

Expiry Date

22 Mar, 26

Salary

0.0

Posted On

22 Dec, 25

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Third Party Risk Management, Outsourcing Governance, Risk Assessment, Regulatory Compliance, Supplier Risk Management, Data Integrity, Performance Reviews, Communication Skills, Leadership, Detail-Oriented, Microsoft Excel, Microsoft PowerPoint, Microsoft Word, Innovation, Team Player, Self-Motivated

Industry

Financial Services

Description

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed. Reporting to the Head of Finance, PFA, this role will become a member of a high performing team that identifies and leads complex, cross-functional strategic sourcing and contracting initiatives across the enterprise. Key spend categories supported by this role include gifts fulfillment, corporate premiums, events, travel. This role will contribute to the profitability of PFA and generate positive return on investment for the Procurement and TPRM Function. It will also ensure that 3rd parties’ risks, especially regulatory risks, are being addressed upfront during the engagement process. This role will be a gatekeeper to ensure all relevant risks owners are involved in the assessment of the engagement. This role will also help drive efficiency in the sourcing process so that business can have a competitive edge in the market. Third Party Risk Management Manage and continuously improve the firm-wide Outsourcing and Third-Party Risk Management framework which includes an integrated approach for assessing and mitigating the risk of new and existing third-party suppliers. Manage and enhance the governance model to provide ongoing monitoring and oversight of the risks posed by intra-group and external third-parties. Manage the Supplier Risk Management platform and ensure data integrity. Monitor and update third-party risk assessment framework to respond and adhere to new and existing regulatory guidelines and initiatives. Identify and escalate key items of concern regarding new and existing third-parties, including the potential of concentration risk and fourth-party risk exposures. Collaborate with PACS Sourcing Partners, Operational Risk, Information Security and Technology Risk, Data Privacy, Business Continuity, Compliance, Legal, Sustainability, Audit, business areas and other assurance functions in the second and third line of defence to identify third-party risks and escalate those risks appropriately. Ensure completion of initial and recurring due diligence, performance reviews for outsourcing and material arrangements. Support Outsourcing Working Group and Outsourcing Governance Committee meetings, including prepare meeting materials, take minutes of meeting, follow up action items. Update procedures and templates at least on an annual basis, conduct training for the internal team and wider organisation, e.g. Business Contract Managers, Risk SMEs, intra-group and external third-parties. Maintenance of the MAS Outsourcing Register, SharePoint site and any other knowledge repositories. Audit support (including request for information preparation and submission, single point-of-contact for auditors, remediation tracking). Who we are looking for: Competencies & Personal Traits Resourceful, innovative and results-oriented Professional and positive approach, self-motivated, team player in a dynamic environment Excellent communication and interpersonal skills with ability to influence and persuade across all levels of the organization Integrity, strong leadership and technical skills in Third party Risk Management. Demonstrated ability to develop and implement risk management strategies Detail-oriented and able to work independently with minimal supervision Working Experience Minimum 5 years in Outsourcing Governance, Third Party Risk Management Experience in Third Party Supplier Risk Management platforms is a plus. Proven track record of managing third-party risks and implementing effective risk management strategies. Strong understanding of regulatory requirements and industry standards related to outsourcing and third-party risk management. Knowledge of MAS Outsourcing Guidelines and relevant regulations Experience in the insurance or financial services industry is highly preferred. Proficient in Microsoft Excel, PowerPoint and Word Effective written and verbal communication skills Education Bachelor’s degree in Business Administration, Finance, Risk Management, or a related field. Certifications such as Certified Third Party Risk Professional (CTPRP), Certified Information Systems Auditor (CISA), or similar are advantageous. Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements. We are Prudential. For Every Life, For Every Future. Prudential plc provides life and health insurance and asset management to 18 million customers across 24 markets in Asia and Africa. We are headquartered in London and Hong Kong and are focused on four strategic regions: Greater China, ASEAN, India and Africa. We are served by around 68,000 average monthly active agents and more than 200 bank partners. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom. Find out more at www.prudentialplc.com Follow us on LinkedIn

Responsibilities

Manage and continuously improve the firm-wide Outsourcing and Third-Party Risk Management framework. Collaborate with various departments to identify and escalate third-party risks appropriately.