ZEN.COM
Outsourcing Manager
ZEN.COMLithuania5 days ago
Full-timeRemote FriendlyManagement, Manufacturing
(Second Line of Defence)

The position acts as the central coordinator for the vendor onboarding, due diligence, risk assessment and 3rd party monitoring process.

Key Requirements

  • Expertise in Regulatory Frameworks: Demonstrated understanding and ability to apply regulatory frameworks governing third-party risk, including:
  • Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA).
  • European Banking Authority's (EBA) Guidelines on outsourcing arrangements (EBA/GL/2019/02).
  • Resolution of the Board of Bank of Lithuania No 03-166 of 10 November 2020 on outsourcing of operational functions.
  • Risk Management Proficiency: Knowledge and experience across all phases of the third-party risk management lifecycle, from initial strategy and due diligence through to contract termination and exit.
  • Due Diligence and Risk Assessment Skills: Proven ability to coordinate and lead due diligence and risk assessments, covering: Service Underperformance Risk, Concentration Risk (including ICT concentration risks), Technology, Information Security, Data Protection Risk, Financial Stability Risk, Sub-outsourcing (Fourth Party) Risk, and Substitutability Risk/Exit Strategy preparation.
  • Classification and Materiality Expertise: Ability to confirm the final classification and materiality of 3rd party services in conjunction with the Legal team, aligning with applicable regulatory criteria.
  • Governance and Reporting: Experience in preparing reports and briefing materials for the Vendor Management Working Group and Management Bodies.

Key Obligations

  • Coordination and Governance
  • Act as the central coordinator for the vendor onboarding, due diligence, risk assessment, and 3rd party monitoring processes.
  • Confirm the final classification and materiality of the third-party service, in conjunction with the Legal team.
  • Chair the Vendor Management Working Group (VMWG), prepare the go/no-go briefing materials, and document the final decision.
  • Initiate and coordinate the due diligence and risk assessment activities across all control functions (e.g., Onboarding, Information Security, DPO).
  • Ensure that new or materially changed 3rd party services (other than non-material other 3rd parties) obtain VMWG approval prior to implementation and go-live.
  • Risk Assessment and Due Diligence Management
  • Select and provide the appropriate Due Diligence Questionnaire (DDQ) modules to the Third-Party Service Provider based on their classification.
  • Initiate and coordinate the formal due diligence process by sending the DDQ to the provider.
  • Validate that all relevant risks have been identified, assessed, and appropriate remedial plans have been documented by the Business Owner for any residual risks above risk appetite.
  • Monitoring and Review
  • Co-ordinate the ongoing monitoring of critical and/or important 3rd party services (including SLA performance monitoring).
  • Initiate and co-ordinate the annual review of critical and/or important 3rd party services.
  • Review monitoring reports submitted by Business Units for material 3rd party services, highlighting any instances of SLAs not being met, operational issues, or exit triggers.
  • Documentation and Reporting
  • Maintain the Company's central Register of Third-Party Arrangements (including the DORA Register of Contracts for ICT 3rd party services and the Outsourcing register).
  • Initiate regulatory notifications for new material arrangements and annual/ad/hoc register reporting to the competent authority, in line with legal and compliance requirements.
  • Report the performance and status of material 3rd party services to the relevant Management Bodies via regular reporting.
  • Log and periodically report Policy exceptions to the Management Body
  • Assisting in preparing regular regulatory reports due to Agents
  • Maintaining a register of Agents approved by the Regulatory Authority.
  • Auditing of Agents
  • Verifying whether the information provided by the Agent and submitted to the Regulatory Authority remains accurate and up to date at least annually.
  • Developing an auditing procedure to be utilized for annual compliance checks of Agents performance.
  • Conducting or coordinating the necessary trainings to Agents depending on the scope of services.

What We Offer

  • Flexible working model – fully remote
  • Opportunities for professional development and career growth
  • A supportive and collaborative environment where your voice is heard

Salary: 3 000 - 6 000 EUR

Key Skills

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