Senior Manager, Third-Party and Outsourcing Risk (Ireland)
Risk – Financial Crime /
Oxygen is a modern financial platform designed for the 21st century economy - the digital-natives looking for a banking partner that understands how they live and work - providing a seamless user experience for both personal and business accounts in a way that makes them feel in their element. Available on iOS and Android, Oxygen users enjoy no monthly fees, no paperwork, early direct deposit, simple transfers, and cashback rewards on everyday purchases from approved merchants. Businesses can easily control their finances with integrated expense management and invoicing solutions that are elegant, simple and secure. Reject ordinary. Banking for the extraordinary, from Oxygen.
Oxygen is looking for a Senior Manager of Third-Party and Outsourcing Risk to join Oxygen’s growing Risk team. This person will report to the Director of Global Risk & Compliance but as a small fintech startup will have exposure across the entire organisation and work closely with the SVP Head of Risk, Deputy BSA Officer (Financial Crimes Risk Director), Chief Compliance Officer, SVP Head of Operations, and SVP Head of Finance.
As the first employee of Oxygen in Ireland, the scope of the role will initially be very broad and you will be tasked with assisting the Director of Global Risk & Compliance in the completion of an application for authorisation as an Electronic Money Institution. As part of the application process you will be responsible for the development and implementation of a framework to control and address third-party and outsourcing risk. Following authorisation you will operationalise and take ownership of the third-party and outsourced services oversight programme.
The role will initially be fully remote. Once a physical office is established the option to continue to work partially remote will still be available.
Who you are
- You are comfortable working with minimal supervision, across multiple time zones within a small, fast-paced startup environment
- You are able to clearly and succinctly communicate both written and verbally to all levels
- You are comfortable and excited about working for a small company and building processes, procedures and internal controls from scratch
- You are risk-minded and focused on building company value by protecting its integrity and reputation
- You are organised, analytical and able to navigate a constantly changing environment
- You have a passion for risk management and oversight
- You have a high degree of professional ethics and are confident escalating issues when appropriate
What you will do
- Assist in all aspects of the completion of an application for authorisation as an Electronic Money Institution (EMI) to the Central Bank of Ireland (CBI)
- Develop, manage and enhance all outsourcing and third-party risk management framework components: policies, procedures, registers and assessments
- Develop internal guidelines and due diligence requirements for the proper evaluation of new and existing outsourcing relationships
- Collaborate across teams to ensure outsourcing requirements are fully implemented
- Contribute to the development of the enterprise risk management framework and aligning with outsourcing and third-party management policies and procedures
- Develop appropriate measurements (KPIs/KRIs) for ongoing reporting to management and tracking of outsourcing partner performance
- Provide reports and escalate outsourcing issues to Senior Management
- Create strong working relationships across all departments, providing guidance on the proper management of outsourcing and third-party risk and ensuring all outsourced activities are managed and tracked according to the established framework
- Perform ongoing periodic oversight of outsourced service providers assessed to perform critical functions
Experience and skills
- Minimum 5 years of third-party risk management experience in financial services with a demonstrated understanding of outsourcing compliance
- Must be knowledgeable of EBA guidelines (EBA/GL/2019/02) and CBI expectations related to managing of outsourced services
- Must be knowledgeable of EBA guidelines on major incident reporting under PSD2 (EBA/GL/2017/10) and EBA Guidelines on ICT and security risk management (EBA/GL/2019/04)
- Working knowledge of legal, financial and technology components of outsourcing
- Experience developing or contributing to the development of enterprise risk management systems highly desirable
- Experience managing multiple deliverables in a fast-paced, entrepreneurial environment
- Excellent analytical, verbal and written communication skills
- Experience working in a fintech or financial services startup preferred