Vendor Manager - Outsourcing Department
Fixed Term Contract – 12 months
Location: Dublin
Department: Outsourcing Department
Grade: Assistant Vice President
Reporting to: Senior Vice President, Head of Outsourcing Department
Company
Sumitomo Mitsui Trust (Ireland) Limited ("SMTIL") is the holding company for SMT Fund Services (Ireland) Limited ("SMTFSIL")and SMT Trustees (Ireland) Limited ("SMTTIL").SMTFSIL is regulated by theCentral Bank of Ireland ("CBI") as a UCITS and Alternative Investment Fund (AIF) Management Company and administration company. SMTTIL is regulated by the CBI as a Depositary.G.A.S. (Cayman) Limited is licensed by the Cayman Islands Monetary Authority as a Trustee and Administrator.
Outsourcing and Vendor Management Function
The Outsourcing and Vendor Management Function supports three corporate entities, SMT Fund Services (Ireland) Limited, SMTTrustees (Ireland) Limited and G.A.S (Cayman) Limited (collectively "SuMi Trust"). The Outsourcing and Vendor Management Function is responsible for implementing the companywide outsourcing and vendor management framework, continuously embedding an outsourcing, vendor and risk awareness culture in theorganisation whilst ensuring outsourcing and vendor standards andawareness remain appropriate and reflective of current practice.
The team are responsible for overseeing the due diligence and risk assessment programme of our outsource service providers and vendors in conjunction with the first line business owners. In addition, theOutsourcing and Vendor Management Function facilitates the quarterly Outsourcing Management Forum including the meeting materials.
AVP Responsible forVendor Management – Role Profile
The AVP for Vendor Management will be responsible for identifying and monitoring ongoing contracted vendor due diligence requirements under our company policies and procedures, including specific vendors compliance with regulations such as DORA (as required by the Central Bank of Ireland thenational regulator for SMTFSIL and SMTTIL) and similar regulations required by the Cayman Islands Monetary Authority (the national regulator for GASC). The successfulcandidate will (1) ensure SMT and its employees are in compliance with internal outsourcing, vendor and related compliance policies andprocedures, and (2) provide advice and guidance to assist the development of SMT's fund servicing/depository business in accordance with regulatory expectations.
Role Overview
We are looking for a knowledgeable and experienced applicant to successfully conduct vendor management and outsourcing oversight activities. The successful candidate will report to the Head of Outsourcing and Vendor Management Function. The ideal candidate will have 3-5 years' experience in a similar role, with the ability to oversee and complete due diligence reviews for vendors.
The role will be based in Dublin, although some infrequent travel to our Dundalk office may be required. The primary aspect of the role will be conductingthe necessary oversight to meet the compliance and governance requirements of the Central Bank of Ireland and the Cayman Islands Monetary Authority relating to vendor management for SMTFSIL, SMTTIL and GASC. This is a very important role in the delivery of SMT's vendor management governance framework, acting as a key point of contact between the business and the Outsourcing Management Forum, the Executive Committee and Boards. Please see the following section which outlines in more detail the core responsibilities of the role.
Core Responsibilities
• Review and recommendation of completed vendor management initiatives/proposals for Outsourcing Management Forum consideration/Executive Committee consideration/Board consideration
• Engagement with the Outsourcing Management Forum, the Executive Committee and Boards re vendor management proposals
• Supporting CBI and CIMA engagement regarding:
• Notifications and Reporting in respect of ICT and non-ICT vendor related proposals/matters; and
• The maintenance and submission of ICT Vendor Registers by way of regulatory return or as otherwise requested
• Collation and submission of the annual outsourcing register return
• Oversight of the business's completion of annual due diligence questionnaires on 'Critical or
Important' outsource service providers along with annual riskassessments.
• Oversight of due diligence and annual risk assessments being completed on 'non-critical' outsource service providers to evaluate whether any change to categorisation or to exit strategy, substitutabilityetc. may be required
• Assistance to SVP with the establishment and maintenance of SMT's Vendor Management
Governance Framework
• Oversight and delivery of SMT's Vendor Management Governance Framework including providing ad hoc advisory to the business.
• Impact of Vendor Management on overall business continuity plan/procedures/risk frameworks within thefirm and engagement with the Compliance, Enterprise Risk Management and Legal Service teams.
• Ongoing engagement and facilitation of audit requests related to the function.
• Administration and maintenance of the SMT Group Vendor and Outsourced Service Providers Register utilising automated solution where appropriate to establish a management system for vendor management.
• Preparation of the Quarterly collation of material for the Outsourcing Management Forum.
• Provide support to the function lead in the ongoing maintenance of the 3rd party register for data processors / sub-processors.
• Assist with the documentation and update of Outsourcing and Vendor Management policies and procedures in line with internal and regulatory requirements.
• Support the delivery of vendor management processes and procedures to ensure that sound and responsible business practices are incorporated into the day-to-day operations of the business.
• Ongoing management of queries from Head Office, internal and external stakeholders.
• Support the development and delivery of vendor management training programmes.
• Responsibility for preparation of Board and Head Office quarterly and ad hoc reporting.
• Oversee due diligence reviews for vendors in collaboration with the responsible business owner.
• Deputise for the Head of Function at meetings/forum where required.
• Participation in ad hoc projects as required
Essential Key Requirements
• Experience of compliance, audit and/or operational risk in a regulated environment, preferably within a fund administrator, fund depositary and/or management company
• Ability to interpret regulatory rules and guidance notes in a practical manner
• Knowledge of collective investment schemes and the financial services industry
• Understanding of the outsourcing guidance and DORA regulatory obligations of a:
• UCITS / AIFM Management Company
• Fund Administrator
• Depositary
• Ability to identify and escalate key risksand their impact on the overall business
• Commercial awareness
• Strong written andcommunication skills at all levels in the organisation
• Self-starter with a structured approach to work
• Circa 3-5+ years relevant experiencein outsourcing, audit, compliance and/or operational risk and control roles
Competencies
· Highly organised
· Proactive and enthusiastic inapproach
· Good Communicator