Head of Third Party Risk Management

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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

Accountable for the setup, management, reporting, maintenance and performance of the Third-Party Risk Management Centre of Excellence (CoE) within the Contracts & Sourcing function.

• Provides objective oversight, monitors and reports on the effectiveness of the processes adopted and implemented by the CoE in relation to the OML Risk Governance Frameworks, including the Group Operating manual, Risk Policies and other applicable policies.

• Provides objective oversight, monitors, reports, maintenance, and development of prescribed minimum standards for the OML third-party risk management frameworks, methodologies, processes and data requirements, and initiates appropriate corrective action as may be required.

Promotes and co-ordinates the processes by which the CoE identifies, measures, monitors, manages and reports on material risks within its functional area of responsibility, while developing a cross-organisational view of the potential impacts.

• Provides third-party risk management advice and inputs to the applicable executive team and attends key strategic and operations meetings of that executive team, thereby ensuring that they have appropriate knowledge and insight into the key risks of the business.

• Provides training, coaching, mentoring and support to the CoE staff members and colleagues within the wider OML group who are overseeing third-party risk management.

• Provides OML wide training, coaching, mentoring and support to controls owners, risk indicator owners, management action owners and risk co-ordinators, so they are enabled to fulfil their risk management responsibilities in relation to Third-Party Risk Management.

• Accountable for the OML wide 3rd party inventory and all related data inputs, coordination, maintenance, and updates. Acts as change agent within the business for the communication and implementation of third-party risk management requirements and standards, and actively promotes embedding of a third-party risk culture through the CoE in relation to decision making.

• Facilitates and co-ordinates the integration of the business-related third-party risk requirements into the broader governance structures, by initiating relevant discussions and meetings, and ensuring the evidencing of key risk-related decisions.

• Facilitates the execution, monitors and reports on the progress, of any requests and instructions issued by the Head of Contracts & Sourcing, applicable Exco, Audit, Risk and Compliance Committees, and various other risk boards, and initiates appropriate corrective action as may be required.

Accountable for the CoE staff output, delivery, execution and overall performance against the designated frameworks and executive targets. • Responsible for cost / expense management for the CoE.

• Optimises the execution, efficiency, overall performance and maturity of the CoE.

• Has the accountability of all third-party risk types, mainly focused on business and operational risks related to third parties.

• Individually accountable for service delivery through efforts of a team of • senior specialists/team leaders. Accountable for others' time, task and output quality.

• Balances own priorities with directing and motivating others. Plans and assigns work over targeted periods.

• Guides and directs staff to achieve operational excellence standards. Creates a climate for optimal performance.

• Manages performance. • Selects potential staff to sustain customer/client service delivery. Qualifications:

Requirements

• Minimum 6 years risk management experience

• Degree

• Professional Qualification • Knowledge and experience of third-party risk management principles and practices, including legal and regulatory requirements. (advantageous)

• Experience with third-party risk management tools (advantageous)

Experience and understanding of third-party contract negotiations, procurement, risk and compliance management, change management, project management (advantageous)

Requires a reasonable level of understanding of the quantitatively modelled or calculated risks, general risk management methodology, and how this interacts with business and operational risk.

• Has a greater span of control and requires the ability to build sustainable multi-disciplinary working relationships, in a manner that fosters mutual understanding and develops new insights

This role is responsible for facilitating, co-ordinating and overseeing the implementation and operations of the Third-Party Risk Management Centre of Excellence (CoE) within
the OML Contracts and Sourcing environment. This role is also responsible for the operational and tactical management of a team of specialist staff/ Team Leaders within the
CoE. The incumbent will be an active member of the Contracts and Sourcing leadership team and escalates, monitors and reports material risks to the Head of Contracts &
Sourcing, applicable Exco, Audit, Risk and Compliance Committees, and various risk boards with the primary objectives of contributing to the overall success and achievement of
the CoE objectives. The incumbent is individually accountable for achieving results through staff supervised over periods of 1-2 years.

ResponsibilitiesContinuous Improvement

Lead the review of existing operations and the implementation of innovation processes across the department or sub-function to ensure the required continuous improvement outcomes are delivered.

Business Performance Metrics

Oversee a broad area of business performance metrics, including the design and development of key performance indicators, metrics, and reports to maintain strategic alignment with the company's financial objectives.

Data Collection and Analysis

Make authoritative recommendations that have a significant impact on the business over the short and long term. Recommendations could be technical or professional in nature.

Root Cause Analysis

Manage a segment of the organization's root cause analyses, ensuring precise issue investigation, identification of underlying causes, and development of corrective actions.

Solutions Analysis

Develop innovative solutions by integrating and analyzing complex and diverse information sources.

Lean Implementation

Manage a substantial segment of the organization's lean implementation, ensuring process optimization and waste reduction.

Training development and delivery

Design and develop training systems to ensure employees within a business unit achieve their full performance potential. Deliver training programs for senior executives.

Quality Assurance Testing Design

Develop and validate complex new test methods and procedures for a product or operations segment, incorporating new technologies and meeting changing organizational, customer, and/or regulatory requirements.

Personal Capability Building

Act as subject matter expert in an area of technology, policy, regulation, or operational management for the team. Maintain external accreditations and in-depth understanding of current and emerging external regulation and industry best practices through continuing professional development, attending conferences, and reading specialist media.

Organizational Capability Building

Evaluate the capabilities of staff within the department to identify gaps and prioritize development activities. Implement the organization's formal development frameworks within the area of responsibility. Coach and mentor others to support the development of the organization's talent pool.

Leadership and Direction

Identify and communicate the actions needed to implement the function's strategy and business plan within the business area or department; explain the relationship to the broader organization's mission, vision, and values; motivate people to commit to these tenets and do extraordinary things to achieve local business goals.

Performance Management

Manage and report on performance within the department or area of responsibility; set appropriate performance objectives for direct reports and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of annual business objectives.

Skills

Action Planning, Adaptive Thinking, Analytical Thinking, Budget Management, Business Case Development, Current State Assessment, Data Analysis, Data Compilation, Data Modeling, Evaluating Information, Gaps Analysis, Policies & Procedures, Project Performance Management (PM), Solution Analysis

Competencies

Communicates EffectivelyCultivates InnovationDecision QualityEnsures AccountabilityManages ComplexityOptimizes Work Processes

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

29 May 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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