Vendor Controls Remediation Lead
HSBC Group
London, England
1d ago


RoleTitle : Vendor Controls Remediation Lead

Business : RBWM

Newor Existing Role : New

Role Purpose

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

Key Accountabilities

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.

Leadership &Teamwork

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.

Major Challenges

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.

Role Context

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

  • The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation.
  • 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.

  • The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
  • This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring and by addressing any areas of concern in conjunction with line management and / or the appropriate department.
  • Observation of InternalControls

  • The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
  • The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer.
  • The term compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.

  • This will be achieved by adhering to all relevant processes / procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity.
  • 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 :

  • Experience in third party, contract management or procurement
  • Proven understanding of legal contract and SLA documents
  • Strong commercial acumen
  • Driven to achieve outcomes, delegates effectively and empowers others to get use all resources to achieve the best outcomes
  • Experience of operating effectively within a complex matrix environment
  • Experience working across cultures
  • Effective written, oral communication and influencing skills
  • Proven planning and prioritizing skills
  • Industry knowledge of Technology third party capability and global footprint
  • Proven experience understanding and quantifying commercial impact of third party contracts
  • Analytically minded with good financial and business acumen.
  • Excellent communication and interpersonal skills
  • Understand and interpret complex business requirements.
  • Experience in use of Microsoft Office applications, particularly Word, Excel, PowerPoint
  • Proven ability to work well in a team, be cooperative and open, and embrace diversity
  • Demonstrated ability to foresee potential risks
  • Negotiating skills
  • Integrity and ability to challenge when appropriate
  • Adept at relationship-building, maintaining effective partnerships, and influencing senior stakeholders
  • Ability to build strong relationships with all stakeholders including suppliers
  • Clear communication skills in order to convey complex analysis to stakeholders
  • Ability to drive change and continuous improvement
  • Apply
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