Operational Risk Manager - Third Party Risk Management

Job Introduction

Handelsbanken is a relationship bank built on trust, long-term thinking and local decision-making. We provide bespoke banking and wealth management services to personal and corporate customers,

Our decentralised model means decisions are made close to the customer, in our branches. Our central Functions teams play a vital role in supporting the branch network, providing the expertise, governance and infrastructure that enable branches to serve customers effectively and sustainably.

This approach had underpinned our success for decades. Handelsbanken is independently recognised as one of Europe's safest commercial banks, holds the strongest credit rating among its peers and is consistently ranked highly for customer satisfaction and relationship banking.

Our culture is values-led, shaped by trust, respect, and long-term thinking. We empower our people to use their expertise, make confident decisions and build long-term careers. We look for people who share our long- term vision, want to grow and want to make a meaningful impact in their local community and with the Bank

We also recognise that flexibility can support people to perform at their best, and that it looks different for everyone. While arrangements will depend on the requirements of the role and the needs of the business, we are open to having a conversation around what flexibility could look like for you.

Check our Handelsbanken website for further information

The Operational Risk Team has responsibility for operational risk controls within Handelsbanken UK, ensuring a comprehensive and objective view of all risks in the Bank's business operations and providing independent assurance to the UK CEO that the business is identifying and managing risks adequately.

The Operational Risk Manager works within an experienced risk management team which is responsible for providing high quality analysis, advice, guidance and assurance on the management of operational risk to ensure the business complies with relevant policies, frameworks and regulatory expectations.

The team is responsible for the development and implementation of the Non-Financial Risk Management Framework (NFRF) and associated processes and tools. They are responsible for overseeing, reviewing and challenging risk assessments / risk management activities as well as promoting consistency and best practice in the application of the NFRF across the Bank. They are also responsible for undertaking control assurance, which is key in helping the business to understand its inherent exposure to risk and overall effectiveness of the control environment.

The Operational Risk Manager - Third Party Risk Management lead will be a subject matter expert in third party risk management reporting to the Head of Operational Risk. The role works closely with the Operational Risk team, 1

LoD counterparts and Group colleagues to ensure that the bank is compliant with regulations covering third party risk management. They will help set foundations for building third party risk management capabilities in the second line and support the embedding of good third party risk management practices across the bank. These activities include but are not limited to:

• Framework & Policy Ownership:
  Develop and maintain the bank-wide Third-Party Risk Framework as a sub-framework of the NFRF and review / approve associated policies managed by 1
  
  LoD, ensuring alignment with regulatory changes and the bank's risk tolerance.
• Risk Tolerance & Monitoring:
  Establish and calibrate risk tolerances, Key Risk Indicators (KRIs), and escalation thresholds for third party risk. Work collaboratively with 1
  
  LoD to monitor and report third party risk exposure against management limits and Board risk tolerance, taking into account emerging risks and trends.
• Independent Challenge & Assurance:
  Provide rigorous 2
  
  LoD challenge to first-line (1
  
  LoD) risk assessments, materiality classifications, and initial supplier onboarding proposals. Execute independent second-line assurance reviews, deep dives, and targeted risk controls testing on high-risk and material outsourcing arrangements.
• Regulatory Compliance:
  Maintain ongoing alignment with PRA SS2/21 and FCA/PRA Operational Resilience rules (SS1/21), monitoring third-party impacts on important business services.
• Risk Culture:
  Build and maintain relationships with key business / other relevant stakeholders (i.e. Group, SMEs) to be a trusted advisor/partner.
• Operates in line with the Bank's Risk Management framework (including sub-frameworks) and relevant risk and compliance policies and procedures, ensuring appropriate and timely escalation of any concerns to their line manager.

Attend where required, governance and risk forums representing the Operational Risk Team on third party risk management matters;

Provide advice, guidance and support on third party risk management to the 1

LOD (business functions) across the Bank;
Develop and provide training and awareness on third…