Process expert Third & Intragroup Party Management

As a TIPM Process expert you and will contribute to ING’s strategic ambition to improve the Third Party risk management function for ING group

You and your job

The regulatory landscape in the financial industry is changing at an unprecedented rate and maintaining corporate compliance is a challenge. ING has the responsibility to ensure it remains fully compliant with legal and regulatory (e.g. EBA and DORA) obligations. As contract owners are not always aware of the obligations to be fulfilled and evidenced, you will have a pivotal role in supporting them to become and remain compliant with their TP contract throughout their entire contract lifecycle.

You will work in the central TIPM (Third- & Intragroup Party Management) function which is a new function within ING and currently being setup and process is being designed which is supported by tooling. The aim of this function is to guide & steer business in managing contracts (both 3rdparty and Intragroup) where risk is involved. The TIPM function orchestrates functional groups (such as Legal, CISO, Procurement, NFR, etc) and functionally steers local teams to achieve this goal.

Today more and more regulations are hitting the over 24.000 contracts (Third Party & Intragroup). Each day we are faced with new requirements all having a different scope and impacting risk management in different ways (EBA, OCIR, DORA, GDPR, etc.) Therefore, we are building a robust systematic solution and process in this large number challenge.

The TPM process is part of the 1st Line of Defense: In this function you will work in a small team (3 FTE locally) with other TIPM Process experts worldwide and you functionally report to the TIPM Process owner in Amsterdam

Your responsibilities:

• TIPM process development: Support the design and develop a comprehensive process tailored to the specific needs and regulatory requirements of the bank. This includes creating procedures, and guidelines for third-party risk identification, assessment, due diligence, ongoing monitoring, and remediation. To do this you will Interact with group specialists, ORM, Auditors and authorities related. In addition, you will support the Global TIPM functional lead in managing, updating and maintaining the TIPM backlog and the related stakeholders.
• Framework Implementation: Support the implementation of the TIPM framework across the organization, ensuring alignment with industry best practices, regulatory guidelines, and internal risk management policies. Collaborate with cross-functional teams, such as procurement, legal, compliance, IT, etc to ensure seamless integration of TIPM processes. Ensure all relevant document is and remains up to date with latest development
• Risk Assessment and Due Diligence: Support the (re)design and continuous development of risk assessment process to evaluate potential third-party risks, including financial, operational, reputational, and compliance risks. Develop and implement due diligence procedures to assess the suitability and integrity of third-party vendors and service providers.
• Ongoing Monitoring and Reporting: Support the design and implementation of a robust monitoring process to continuously assess and track the risks associated with third-party relationships. Establish regular reporting mechanisms to provide management and stakeholders with timely updates on third-party risk exposures, mitigation efforts, and compliance with all relevant policies.
• Stakeholder Engagement: Collaborate with internal stakeholders, including senior management, business lines, and risk functions, to promote awareness of TIPM principles and foster a culture of risk awareness and accountability. Provide guidance and training to employees involved in third-party relationships to ensure consistent adherence to TIPM policies and procedures.
• Regulatory Compliance: Stay up to date with relevant laws, regulations, and industry guidelines related to third-party risk management. Ensure the bank's TIPM practices align with regulatory expectations and implement necessary enhancements to maintain compliance.
• Support the implementation of the TIPM target system in the different countries and actively support countries who are live with the target system and as such ensure that the TIPM function is perceived as expert team by countries.
• Community manager: Drive and support the build of a active and lively international TIPM community

Job profile

As main skills, capabilities and behavior:

• Thorough understanding and experience (5+ yrs) of Contract management in financial sector
• Solid knowledge of regulatory environment and Third Party Risk management
• Well organized and structured able to prioritize
• Project management skills being able to link multiple expertise areas (SMEs) in reaching same objectives and tight deadlines
• Good balance between high level and detailed level views and able to understand dependencies, connections and related processes
• Strategic thinking and able to find pragmatic solutions
• Curious, eager to learn and understand the needs and expectations (challenge the status quo)
• Good communication skills and able to explain the business rationale (WHY) relating to different seniority levels (from execution to senior to top management
• Creative and innovative focusing with de-cluttering mindset and simplification of complex processes
• Able to identify, understand and leverage on good practices from ING Group and market
• Knowledge of and experience with relevant Procurement compliance areas is advantage;
• Knowledge of and experience in process design and optimization;