Third Party Risk Management Lead
Shift Pattern:
Standard 40 Hour Week (United Kingdom)
Scheduled Weekly Hours:
40
Corporate Grade:
D - Assistant Vice President
Reporting Line:
(UK Division) CFAO Office
Location:
UK-London
Worker Type:
Permanent
About the London Metal Exchange
The London Metal Exchange (LME) is the world centre for industrial metals trading. Most of the world’s global non-ferrous futures business is conducted on the LME’s three trading platforms totalling $18 trillion, 178 million lots and 4 billion tonnes with a market open interest high of 1.8 million lots in 2024.
The metals community uses the LME, an HKEX Group company, as a venue to transfer or take on price risk, as a physical market of last resort and as the provider of transparent global reference prices.
Overall Purpose of Role:
The Third Party Risk Management (TPRM) Lead will join the newly-created TPRM team, building on the LME’s TPRM implementation programme that established new TPRM policy, framework and processes. The TPRM team will be responsible for further embedding and establishing TPRM across the LME Group’s operations.
The TPRM Lead will be responsible for leading all activities relating to the effective management and governance of third party risk across external and intra-group supplier engagements including outsourcing. You will play a key role in supporting the Group’s approach to all TPRM-related activities.
As the Third-party Risk Management Lead you will be responsible for coordinating vendor risk assessment, onboarding, in-service monitoring, regular due diligence in accordance with the LME Group TPRM policy and framework, and preparing regular reporting on TPRM matters. You will also provide support on related procurement activities across the LME Group.
You will work with other departments across the group, including Risk, Regulation & Compliance and Legal to continually improve procedures, tools and controls to ensure compliance with regulatory standards and best practices for third party risk.
Responsibilities:
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Key point of contact for stakeholders, leading them through the TPRM processes outlined with the policy and framework.
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Co-ordinating and periodic vendor due diligence activities, internal assessments and completing subsequent risk assessments and reporting.
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For vendor in-service monitoring, supporting third party service reviews where appropriate ensuring TPRM is being effectively governed by service receivers.
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Ensuring that inherent risks and control gaps are accurately identified and remediated.
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Managing the concentration risk register, third party register – including 4th parties - and that it is accurately maintained.
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Performing data analysis and reporting on supplier risks and governance, including data quality reviews and trend analysis.
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Providing guidance on supplier governance and assurance activities applicable to individual supplier engagements, leveraging your network of subject matter experts from other teams as needed.
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Monitoring and supporting ongoing compliance to Policy, including ensuring quality and integrity of supplier assurance data captured in data repositories.
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Providing training to business stakeholders on best practices relating to supplier governance and specific processes and requirements.
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Supporting the delivery of key projects, collaborating in the production and maintenance of internal documentation, identifying opportunities for innovation and improvement, and delivering value across a range of initiatives relating to supplier governance.
You will bring experience of managing vendor onboarding, from a TPRM compliance perspective, and detailed knowledge of relevant, Financial Services, regulations.
Strong data analytical capabilities: Microsoft Excel, PowerPoint and Word skills are critical.
The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer. In recruiting for our teams, we welcome the unique contributions that you can bring in terms of education, ethnicity, race, sex, gender identity, expression and reassignment, nation of origin, age, languages spoken, colour, religion, disability, sexual orientation and beliefs. In doing so, we want every LME employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.
