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The Head of Supplier Risk and Relationship Management is responsible for defining and delivering the organisation's approach to Supplier Risk and Relationship Management. The role will be responsible for establishing the organisation's approach to management of key Supplier relationships and will be required to work with a diverse range of internal and external stakeholders, including senior management. This is a new role part of the Global Procurement department.
Fidelity is transforming both its firmwide risk management model (implementing 3 Lines of Defence) and its Procurement capability. As a result it is enhancing its approach to Supplier Risk and Relationhip Management. One of the priorities is to design and implement a holistic Supplier and Risk Management Framework which meets regulatory requirements and enables delivery of Procurement's business objectives.
Overseeing the Second Line of Defence responsibility for the Global Procurement function. This includes ensuring an efficient and fit-for-purpose Supplier Risk Framework, robust management and tracking of the risk control status for all suppliers and ensuring the development of supplier on boarding and risk management plans.
Collaborating with leadership in stakeholder groups to ensure the Supplier Risk Framework is designed and executed to appropriately manage third party risk across multiple risk domains (Regulatory, Operational, Financial, Contractual, Information Security, Business Continuity)
Designing the firm's strategic approach to Supplier Management, determining how the organisation will manage supplier relationships, drive maximum value from supplier relationships, and meet all legal and regulatory requirements
Establishing and maintaining a way of segmenting the organisation's supply base to identify the highest risk and value relationships
Identifying and maintaining an inventory of the organisation's critical and important supplier relationships and implementing related systems and tools
Defining and implementing the operating model for Supplier Management, clearly defining roles and responsibilities for all required activities
Implementing supplier management activities, internal policies, standards, templates and best practices across the firm globally, providing training and support and creating a community of supplier managers across the organisation
Providing leadership and direction to the global network of designated supplier managers
Monitoring and reporting out on key Supplier Risk Framework elements, including overall effectiveness and maturity, successes and challenges, enterprise level assessment of vendor risk, issues of non-compliance
Experience and Qualifications Required
Bachelor's degree in business or related area of study and extensive experience in one or more of the following areas in the financial industry:
Third party risk management
Vendor/supplier relationship management
Enterprise vendor management office,
Vendor due diligence/compliance audit
Procurement: understanding of the entire supplier life-cycle, from initial supplier identification, through contracting to delivery of services through to exit of the contract and strong understanding of how Supplier Relationship Management operates as part of an overall set of processes which support delivery of services to the organisation
Risk & Control: understanding of the principles of Risk Management, Control and assurance, define the required risk management activities and work with a range of stakeholders to develop an effective and sustainable approach to supplier risk
Stakeholder management: experience of building relationships with a diverse range of internal and external stakeholders at all levels, across business lines, in all locations and with different cultures, experience of working in a matrix environment / delivering through teams of people the role holder doesn't directly manage or work directly.
Supplier Management: experience of managing supplier relationships, strong understanding of the core activities required to manage supplier relationships successfully and ability to develop best practice approaches to managing suppliers
Service Management: experience of managing delivery from suppliers, operational understanding of how supplier management works in practice and the key activities and touchpoints between the organisation and its suppliers
Flexible, action-oriented team player with the ability to attend to the detail but also have the aptitude to understand and address the bigger picture
Able to deal with ambiguity
Open attitude to change
Ability to develop and effectively present information to leadership in either written or verbal form