Vendor Management Associate

Divisional Overview

The Corporate Planning & Management (CPM) Division unifies Finance & Planning, Spend Management, Operational Risk and Resilience, and CPM Engineering teams to deliver business planning and analytics, expense management, third party risk management, and governance strategies across the firm.  CPM has 5 operating pillars: Finance & Planning supports the execution of the firm’s strategic objectives through the management of the planning process, firmwide reporting and analytics and insights into the firm’s business plans and budgets. They develop consistent framework for revenue division projections creating transparency, accountability and efficiency around projections. This pillar also includes the CF&O, EO and Engineering divisional CFOs, who are strategic finance advisors helping the firm and the non-revenue divisions achieve commercial financial opportunities. Product Finance is responsible for the overall governance and proactive management of the firm’s non-compensation expenses. Spend Management encompasses the functions responsible for managing all aspects of the firm's spend with third parties - advising commercial agreements and driving operating efficiency. Departments include Strategic Sourcing, Procure to Pay, Integrated Travel and Expense, Infrastructure and Transformation and Sustainable Operations. Operational Risk & Resilience (ORR) drives firmwide Operational Risk programs along with second line teams and implements required changes within CPM. This pillar also includes the Third-Party Risk Management (TPRM) team, responsible for identifying, managing, monitoring and reporting third party risks and providing governance and operational frameworks for all the firm’s third-parties (vendors, non-vendors, contingent workers, and interaffiliate services). The Corporate Insurance & Advisory team in this pillar identifies, procures, and manages corporate insurance needs for the firm and its investing businesses. The CPM Engineering team provides engineering solutions that enable the firm to manage third-party spend, data and automation, plan budgets, forecast financial scenarios, allocate expenses and support corporate decision making in-line with the firm’s strategic objectives.

Role Overview

Professionals in CPM have an analytical mindset, exhibit intellectual curiosity and are from diverse academic backgrounds. 

The Associate level role is based in Bengaluru and sits within TPRM’s Material Outsourcing program which is responsible for assessing materiality for all third party vendors in line with European and UK guidelines on third party vendor related requirements. The candidate will be required to execute and mature our vendor risk assessment framework in strict alignment with the European Banking Authority (EBA) Guidelines on Outsourcing and PRA requirements on third party vendors. In this role, the candidate will conduct comprehensive materiality and risk assessments based on specific business use cases to determine the criticality of third-party arrangements, prepare regulatory notifications, maintain the firm's statutory outsourcing and third-party registers, and ensure contract compliance. The role requires collaboration with different functions across the firm on a regular basis, an ability to work independently, and the ability to interact with senior professionals across the firm. It also entails in-depth analysis and reporting for senior management, requiring diligence, a commercial mindset, and close collaboration with global counterparts. The ideal candidate must possess excellent verbal and written communication skills and extremely diligent with regulatory requirements and compliance monitoring.

Job responsibilities will include, but are not limited to:

• Become a Subject Matter Expert of the TPRM Policies and Standards including process governance and controls, risk management, vendor oversight requirements
• Act as a key advisor to internal stakeholders and help address queries related to Third Party Risk program requirements
• Build strong business relationships with teammates and stakeholders firmwide to understand impact of the Program requirements based on the business and divisional initiatives
• Partner with the team to support deliver on and further evolve the Quality Assurance Program
• Participate and support Third Party Governance team for timely responses to regulators, and 2^nd Line reviews (e.g., Compliance, Internal Audit, Operational Risk) related to third party risk management
• Identify and lead Program enhancements driven by evolving and changing regulatory guidance
• Collaborate with team members, Product Enablement team, other stakeholders and external vendors to design, test and implement new solutions or enhancements to existing processes and systems
• Drive projects for continuous process improvement and bring innovation into the team
• Lead initiatives / projects from inception to completion
• Communicate progress and decision points for projects to relevant functions and maintain key documentation of approvals where required
• Coordinate input into firmwide transformation initiatives impacting (TPRM) Programs (e.g., vendor onboarding transformation, Contingent worker on-boarding transformation, Interaffiliate service provision etc.)
• Maintain TPRM program(s) documentation (e.g., policies, standards, procedures, reference guides, training content) to ensure consistency with program initiatives, regulatory guidance and broader TPRM transformation priorities
• Coordinate content for internal senior forums and business engagement meetings (e.g., Committees, Governance Groups, etc.)
• Oversight of business-as-usual Program components (i.e, reviewing queries and exception requests from other divisions and business units)

Qualifications:

• Relevant Bachelor’s degree or equivalent qualification with an excellent academic record 
• 3-4 years of relevant experience in the field of third party risk, regulatory compliance or business management 
• Analytical capabilities and awareness into UK and EMEA Third party risk management related regulations including material outsourcing, DORA etc. 
• Exceptional attention to detail  
• Excellent communication and interpersonal (written and verbal) skills, strong attention to detail
• Ability to lead across team members and drive assignments to completion
• Demonstrated ability to manage multiple projects and meet competing deadlines
• Solid work ethic and high level of motivation
• Proficient in Microsoft Excel and PowerPoint

ABOUT GOLDMAN SACHS

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