RoleTitle : Vendor Controls Remediation Lead
Business : RBWM
Newor Existing Role : New
Thisrole will be responsible for leading the third party Softwareand Non Resource Augmentation engagements for the UK. Reporting to theDigital Head of Vendor Management.
Asan area of increasing strategic focus and investment, the growth in scale andcomplexity of third party engagements across the business and IT in this space requiresdedicated leadership to manage both the day-
to-day activities, drive commercialinitiatives and free-up capacity within the existing team.
Anumber of high priority issues need urgent attention :
Supporting the development of the Third PartyManagement capability within Digital cluster
Management of all Digital professional servicesand resource augmentation contracts
Ensuring third party engagements are compliant
Improving the onboarding approach for Digitalthird parties
Providing value-add services for our internalcustomers
Improving alignment with Procurement and otherDigital COO teams
Theindividual will be accountable for the end-to-end management of the followingactivities :
Oversight of all existing contracts and newrequests
Ensure third partiesare proactively managed through the third party lifecycle, and that allassociated processes are followed and monitored, including service levelperformance
Overall management of relationships with otherCOO Teams, Procurement, Legal and Approval Boards
Working with Digital business owners to understandtheir priorities and longer term strategy
Support thedevelopment of third party management and sourcing strategy for contracts
Implementation and adoption of Third PartyManagement best practices
Maintain and developprofessional relationships with key third parties
Act as escalation point for the triage ofprocurement process issues and other onboarding blockers
Oversight of the third party contractrepository
Periodic production of third partyusage / cost / trend and other metrics to for HDS Management
Monitor and developperformance strategy for contracts, carrying out performance reviews andactioning performance issues
Oversee third partyagreements and statements of work, ensuring that financial and contractnegotiations at the appropriate management level are conducted and completed inconjunction with HSBC’s procurement policies and procedures, and ensuring thatthe agreements with the suppliers are commercially advantageous to HSBC
Support contract negotiations (alongsideProcurement), leveraging RBWM / Group relationships to assist teams in conductingcommercially sound, robust and transparent negotiations with third parties.
Identify andrecommend opportunities for process and systems improvement. Work with the teamand relevant parties to develop and execute improvements
Coach, mentor andmotivate junior members team to achieve effective and efficient delivery ofservices
Undertake aneducation role in the area of third party management to widen the skills andknowledge of others within Digital
Perform spendmanagement activities in relation to third party agreements
Develop and maintaineffective relationships with internal customers and stakeholders
Maintain regularinteraction with other COO teams and Procurement to resolve any issues
Maintain a repository of third party contracts
Impact on Business
HSBCis currently going through a period of transformative digital change and toremain competitive, must ramp up productive capacity in Digital and removeunnecessary barriers to go faster.
To achieve this, a number of teams have beencreated to design, build and run digital services. This will acceleratedelivery by creating a common sense of purpose, unifying deliveryaccountability, pioneering new ways of working and enabling faster decisions todeliver the agreed digital agenda.
Workingto support cross-functional teams, the role will enable the business to driveforward the delivery agenda, acting as a key resource to unblock organizationaland process issues.
By ensuring that robust and commercially sound third partymanagement processes are put in place, this role will abstract much of theoverhead and complexity from the business which will enable them to focus oncustomer value and innovation.
Customers / Stakeholders
Therole will involve considerable interaction with the Technical, Business andDelivery leadership within Digital. The third parties, Global Head of VendorManagement and Digital Management should also be considered key stakeholders.
Theindividual will be working in teams organized globally, exercising considerablethought leadership in order to drive operational efficiencies, manage thirdparty risk and drive the continuous improvement agenda.
Theneed to deliver at pace needs to be carefully managed with a Group controlpolicies and procedures, although Digital has a license to challengeoutdated / inefficient processes.
Dueto the rapid speed that was required to set-up the Digital organization during thelast couple of years, a high volume of third parties were leveraged acrossmultiple programmes.
A process of review and challenge of engagements isrequired to re-evaluate commercials / value and consolidate third parties, whichmay come up against inertia due to change risk which must be overcome.
TheDigital organization within HSBC, whilst transforming the business, is itselfevolving through exploring of new ways of working and trailing variousoperating model designs.
Therefore, the nature of this role is dynamic and mayexpand to cover other areas within Digital.
Management of Risk
This will be achieved by consistently displaying the behaviours required to support the Best Place to Bank principles as in the UK and other market equivalents of Make Better Products, Sell Them Properly and Keep Them Sold.
Observation of InternalControls
The term compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
Hands-on experience is required of performing a third party managementrole within a comparable organisation covering substantial contract value.
Skills should include :