Since our launch in 2015, we’ve lent over £10bn to ambitious entrepreneurs up and down the UK. That’s led to the creation of over 40,000 new jobs and over 29,000 new homes – and we’re not about to stop there. We’re dedicated to helping trailblazing businesses thrive and our strong Procurement support all sourcing needs across business units which helps them achieve their business objectives.
This is a fantastic opportunity to join a fast-paced, growing bank with a reputation for doing things differently. We don’t want another cog in the machine, we’re looking for self-starters and bold thinkers who want to pave their own career.
In a nutshell, the mission of Procurement team is to:
· Provide high-quality goods and services that support the organization's goals and objectives
· Ensure compliance with the organization's policies, procedures, and ethical standards
· Foster positive and collaborative relationships with suppliers and internal customers
· Promote innovation and continuous improvement in the procurement process
Are you ready to step up to the challenge?
You will support the Business Service Owners, the Procurement team, Supplier Management team and Operational Resilience Team to minimise and eliminate Third Party Risks related to OakNorth’s strategic suppliers. You will be responsible for owning and driving best in class Third Party Risk Management (TPRM) disciplines across OakNorth Bank plc and its affiliates within the Supply Chain Management function. The key activities include, managing the Supplier Due Diligence process prior to supplier onboarding as stated within OakNorth’s Supplier Management Policy and Framework, ensuring compliance to OakNorth’s regulatory obligations, reducing contract cost, maximising relationship value whilst building and maintaining strong relationships with suppliers to obtain optimum performance from the supplier. In addition supporting the Operational Resilience Team’s work to manage our Important Business Services including mapping of processes, maintaining test schedules and supporting business partners in closing vulnerabilities.
Working for OakNorth Global Private Limited, OakNorth Bank’s outsourced service provider you’ll be responsible for coordinating and ensuring a consistent approach to the effective risk management of Third-Party suppliers across all business functions. You will be part of a small team of supply chain and procurement specialists that is designing, implementing and embedding a Supplier Risk framework to meet industry standards and future regulatory expectations.
Job Responsibilities
- You will be responsible for the delivery and ongoing maintenance of a portfolio of existing Process Risk and Control Assessments in Supply Chain Management including supplier Due Diligence processes
- You will be responsible for the management of formal Supplier Due Diligence process end to end all OakNorth Bank plc functions.
- You will be responsible for all inherent and residual risk assessments by conducting vendor risk assessments for third party vendors, including but not limited to: determining the scope of the service provided by interacting with OakNorth’s Senior Management; administering risk assessments directly to vendors using our online tool;
- You will be responsible for collating and recording risk assessment findings and presenting formal findings and recommendations to management
- You will be responsible for assessing and responding to risk findings, including pursuing action plans to completion and negotiating due dates with vendors.
- You will be responsible for developing risk mitigation plans and strategy which will be communicated to third party’s and ensure timely and satisfactory remediation.
- You will need to be proactive and enthusiastic in your approach to utilise all communication methods to foster strong working relationships with Vendors and attempt to resolve any process risks or Vendor delays with your positive approach
- Ensure that potential issues are raised promptly to senior management with a view to identify options to mitigate risk.
- You will be responsible for the final Risk Assessment document completion and submission determining the Vendor risk rating and secure sign off from OakNorth’s internal stakeholders
- You will need a knowledge of supplier risk analysis and due diligence management
- You will be responsible for in-life management of various risk and due diligence interactions with third party’s including perform Sanctions, Background check and Creditworthiness check on suppliers.
- Your role will be to ensure that before entering a contract Vendors have completed risk assessments against an approved internal checklist to ensure regulatory compliance
- You will need to be a confident communicator and demonstrate leadership by engaging with multiple business owners of Vendors to ensure compliance with required assessments, procedures and cadence per the Outsourcing Process Framework, for both new and existing engagements.
- You will be responsible for high standards of data input and record keeping by maintaining and updating a database of Third Parties in Salesforce including current risk scores, status of data requests and overall progress of risk management. You will ensure a regular cycle of data assurance is completed
- You will effectively manage any escalations to Senior Management (COO, CRO and Director of Operations) for any higher risks, gaps, issues identified during in life management and Due Diligence phase
- You will be expected to drive continuous improvement agenda within the supplier Risk and analytics processes to improve the program in line with regulatory guidelines and compliance inputs while maintaining its risk integrity.
- You will be responsible for managing internal and external audits in line with OakNorth bank plc’s Governance Framework.
- You will be responsible for handling donation and sponsorship requests for OakNorth cases by conducting Due Diligence checks on the individuals and organisations.
- You will be asked to support the Senior Supplier Manager in Vendor Governance meetings where you have identified continuous improvements ideas
Desired Skills
- Proven experience (5+ years) in Third Party Risk Management and/or supply chain/procurement activities as well as play a key role within teams driving operational excellence in supplier management disciplines
- Regulatory experience preferred in managing suppliers against the requirements set out by OakNorth’s regulators (the FCA and PRA)
- Knowledge of working with and managing material Outsourced Service Providers
- Knowledge on IT/Cyber security controls including but not limited to SOC and ISO standards.
- In depth knowledge and experience of supply chain processes and the tools and techniques that can be used to improve them
- Supplier risk management skillset to ensure OakNorth remains in compliance with all supplier related activities
- Articulate and able to communicate complex topics in efficient and effective manner
- Experience of building and maintaining effective relationships at all levels inclusive of Executive leadership
- Data accuracy mindset and knowledge of effective Supplier control frameworks
- Confident communicator, not reliant on e-mail communication alone, being proactive and speaking directly to Vendors, Business Owners and colleagues on the phone to speed processes
About Us
We’re OakNorth Bank and we embolden entrepreneurs to realise their ambitions, understand their markets, and apply data intelligence to everyday decisions to scale successfully at pace.
Banking should be barrier-free. It’s a belief at our very core, inspired by our entrepreneurial spirit, driven by the unmet financial needs of millions, and delivered by our data-driven tools.
And for those who love helping businesses thrive? Our savings accounts help diversify the high street and create new jobs, all while earning savers some of the highest interest on the market.
But we go beyond finance, to empower our people, encourage professional growth and create an environment where everyone can thrive. We strive to create an inclusive and diverse workplace where people can be themselves and succeed.
Our story
OakNorth Bank was built on the foundations of frustrations with old-school banking. In 2005, when our founders tried to get capital for their data analytics company, the computer said ‘no’. Unfortunately, all major banks in the UK were using the same computer – and it was broken.
Why was it so difficult for a profitable business with impressive cashflow, retained clients, and clear commercial success to get a loan?
The industry was backward-looking and too focused on historic financials, rather than future potential.
So, what if there was a bank, founded by entrepreneurs, for entrepreneurs? One that offered a dramatically better borrowing experience for businesses?
No more what ifs, OakNorth Bank exists.
