Operations Officer - Third Party Risk Management

Job description

Job Title : Operations Officer - Third Party Risk Management

Fitness and Probity Classification: CF2

Role Type: Full-Time, Permanent

Position Reports To: Head of Protection and Resilience (P&R)

Department: AGL Operations

Location: AGL Head Office, Maple House, Temple Road, Blackrock, Co. Dublin.

 

Background:

Allianz Global Life dac (“AGL”) is a rapidly growing cross-border life insurer with products sold into the French, Italian and German markets, and, more recently Greek and Lithuanian markets. It also reinsures a portfolio of variable annuities sold in Taiwan and Japan. Its goal is to expand into other markets over the coming years, while also continuing to expand its product range. It currently writes unit linked, variable annuity and protection business.

 

Main Purpose of the Job:

The role will support the Head of P&R to locally adopt, maintain, and monitor effective implementation of Third Party Risk Management (TPRM) including the Outsourcing framework. The role shall streamline the activities across both Outsourcing Function, Procurement Function and Third Party Risk Management, support the Business Owners (Head of each department) in the onboarding, due diligence and oversight of new and existing third party providers.  

 

Key Performance Measures:

The main responsibilities of the AGL Operations Officer in the context of the TPRM Framework are to:

·  Ensure that the requirements across set out in the AGL TPRM Standard are fulfilled, communicated to, and applied;
·  Govern and monitor the effective implementation of the TPRM Framework and review the respective processes and mechanisms;  
·  Establish mechanism to obtain appropriate management information (MI) and reporting process as part of the various ongoing monitoring requirements for the Third-Party Arrangements and ensure that ongoing monitoring requirements are adhered to;  
·  Define appropriate monitoring mechanisms in line with the Allianz Group TPRM Function monitoring mechanisms to measure and steer the AGL TPRM framework. This includes the integration of the TPRM framework into the Non-Financial Risk Management framework;  
·  Create and provide management report on the status of AGL TPRM in addition to Inform and advise the AGL Management and inform the Group TPRM Function on the risk assessments, current control effectiveness and investment needs;  
·  Support the Business Owner in carrying out the TPRM Lifecycle (e.g., performing risk assessments) and other activities set out in this Standard; 
·  Fulfilment of all required risk management activities with the Third Party;  
·  Ensure that the TPRM lifecycle is effectively implemented for each of the Third-Party Arrangements;  
·  Involve the relevant functions across the lifecycle process;  
·  Third Party onboarding activities (i.e., Third-Party registration and Third-Party qualification checks) and contract management;  
·  Evaluate the risk relevance of the Third-Party Arrangement;  
·  Determine DORA classification;
·  Inherent Risk assessment;
·  Carry out necessary due diligence requirements;
·  Assess Subcontractor risk associated with the Third-Party Arrangement, if applicable, and obtain all Subcontractor information;  
·  Evaluate concentration risk;  
·  Set-up the necessary business plan. 
·  Support the AGL Procurement Function in negotiations according to local and global procurement involvement rules in accordance with the locally applicable principles;  
·  Support the internal subject matter experts (particularly the Chief Information Security Officer and Data Protection Officer) in completing their due diligence requirements with the third party provider and implementing the necessary contractual clauses;
·  Support in the drafting and negotiation of the Third-Party Agreement with focus on required controls testing and audit requirement being included in the contractual arrangement;   
·  Support the definition of Business Continuity / Disaster Recovery plans and exit plan together with the relevant functions, in addition to working with various provides to obtain test reports and results;  
·  Support tracking remediation activities to ensure that they are completed in a timely manner by the Third Party;  
·  Support the execution of an exit plan, including exit plan testing and involve relevant functions in case of contract termination;  
·  Ensure that information of Third-Party Arrangements in the TPRM inventory are complete and accurate, ensure data fields being required for concentration risk assessment are available and up to date; 
·  Conduct training and awareness programs for AGL management and business owners which can be extended to Third-Parties;
·  Retain and upskill the necessary expertise to supervise the Third-Party Arrangements to effectively manage the risks associated with the Arrangement;  
·  Report and notify supervisory authority in accordance with the stipulated timelines set by the regulation.  
·  Support on the delivery of monthly, quarterly and annual reporting activities at a vendor level  including annual budget planning activities and monitoring on a quarterly basis.

This job description shall not limit the duties which may be assigned to this role. The successful candidate shall be required to perform on a temporary or permanent basis such additional or different duties that the Company may reasonably assign to them from time-to-time.

 

Key Customers:

Internal – Chief Operating Officer, Other departments and expert functions (e.g. Information Security and Data Protection), Business Owners (Head of Departments), Group expert functions, Internal third party vendors

 

External – Service  providers/Third party administrators

 

Business Competencies:

Education and Qualifications:

·  University degree in economics, business administration, law or similar with excellent grades

Professional Competence:

·  Minimum of 3 years’ experience in financial services (consulting experience is an advantage)
·  Understanding of the regulatory and legal environment
·  Concurrent responsibilities do not impair ability to perform

Product & Technical Knowledge:

·  Sound knowledge of third party risk management / Outsourcing / Procurement
·  Project management skills

Management:

·  Self-manage multiple priorities, routine work and urgent issues.

Commercial Awareness:

·  To manage relationships with internal/external service providers and to monitor performance against SLAs
·  Clear understanding of key business processes and strategic goals

 

Personal Competencies:

Personal Impact: Pro-active with ability to work on own initiative and as part of a team.

Intellectual Effectiveness: Good analytical skills, technical knowledge.

Communication: Excellent communication skills, both written and verbal. Fluency in written and spoken English.

Dealing with People: Excellent interpersonal and communication skills.

 

Fitness and Probity:

Ethical, Honest and Acts with Integrity: Demonstrate honesty, integrity and ethical behaviour.

Financial Soundness: Demonstrate financial soundness.

Allianz Global Life

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. 
We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in.
We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation.
Join us. Let's care for tomorrow.