Legal Third Party Management Oversight Role
(Level - Sr. Associate)
Experience level : 4 years
About this role :
- The Legal team has accountability for the management of the end-to-end Third Party lifecycle for Capital One in India. The supplier management lifecycle covers procurement processes including 3rd party selection and sourcing, contracting, ongoing supplier and relationship management, and offboarding activities.
- This key role will provide oversight and governance for a team of contracting and procurement professionals who ensure a well-controlled and well-managed third party management function that is in line with Enterprise requirements and India laws. The role will manage through changes, risks and issues and will foster a culture of continuous improvement and relevant reporting.
- The oversight lead role will also build strong relationships across the enterprise, including with the Financial Services business, Enterprise Supplier Management and Third Party Risk Management teams, to help drive the Third Party agenda for Capital One India, acting as the key subject matter expert for all Third Party Risk matters.
What you'll do :
Deliver robust oversight of the end to end Third Party Management life cycle (from third party onboarding, ongoing monitoring / oversight and termination / exit)Develop strong partnerships with stakeholders across the enterprise to effectively represent the the Company's local and global Third Party Risk Management interestsBe the primary point of contact within the Company for Third Party Risk Management matters both within Company and with the various enterprise first and second line risk teamsLead on transformational Third Party Management Projects, ensuring the Company requirements are consideredFoster a culture of continuous improvement, through building great relationships, overseeing effective quality assurance programs and ensuring there are appropriate controls in place to motivate risk aware decision making.Work with second line teams (compliance, legal etc) to understand the regulatory landscape and emerging risks; review and manage changes to our frameworks to effectively deal with these changes.Own the Company's Third Party Management Metrics, and reporting and communications, both internally and externallySupport audits, regulatory exams and enterprise risk initiativesLead and develop a team that will support the implementation and day to day management of the Company's Third Party Risk Management framework.Handling vendor onboarding, offboarding, payments, invoices and purchase ordersAdditional specifics based on Category Manager Role :
Understand TPM PSPs (Policies, Standards, and Procedures) : Know, follow, and understand the TPM PSPs; ensure team / stakeholders true back to PSPs in day-to-day actions and decision makingMonitor to ensure appropriate team use of and interactions with full TPM Lifecycle; understand interactions with Sourcing and monitor sourcing activities of team; monitor metrics of team STEP, sourcing and contracting activities and Deal PrioritizationEscalation POC : Identify and remove (or further escalate) obstacles for the team; clear command of what needs to be escalated & when within ESM, LOB, TPRM, Risk, etc.Authorised Executive (AE) Education : ensure AEs have clear understanding of TPRM policies / process and understand their role; share perspective and influence AE on where to invest in supplier relationshipsQA Portfolio of work : Regular monitoring of Relationship Records for accuracy and consistencyCategory Strategy : Stay informed of LOB needs, market trends, competitor activities, and industry developments; leverage knowledge to proactively inform and drive strategy; develop Category Strategy in conjunction with TPM, Partners and LOB; ensure strategic plan is actively put into action, executing on outlined strategic stepsDeal Strategy and Oversight : ensure appropriate negotiation experience is assigned to a deal, to include Category Manager playing lead negotiation role if the deal necessitates; monitor deals, guiding and advising TPMs as required to ensure development of proper goals / strategy (prework, terms, pricing, SLAs, etc); act as point of escalation in negotiations; accountable for understanding deal process flow (signing process based on LOB needs)Resource Alignment : Understand services and customers enough to effectively manage team resources; leverage knowledge of portfolio(s) and team to make resource recommendations against the categories; flag resource issues; manage team bandwidth proactively and Significant experience in a Third Party Management / operational risk management roleKnowledge and understanding of Third Party Risk and Third Party lifecycle desirableOutstanding stakeholder management skills, with the ability to work in collaboration with cross functional teams and demonstrating confident and effective communicationCoaching and mentoring experience; ability to identify opportunities to enhance team skills and translate into appropriate training frameworks.Supporting change and process improvement across the wider teamDemonstrated ability to partner, effectively challenge and influence across all levels (incl execs).(ref : iimjobs.com)