AVP – FLGRC (Third Party Risk Management)

About M&G India

We are M&G India, the strategic innovation and digital hub for M&G. Established in 2003, we have offices in Mumbai and Pune.

Our teams work closely with colleagues across the Group worldwide to drive transformation, build digital capability, and support sustainable growth. By leveraging technology, AI, automation, and process excellence, we bring new ways of thinking to improve outcomes for both customers and colleagues.

Grounded in a vibrant culture with strong foundations, we are central to how M&G is transforming as a business.

About M&G

Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.

Through telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

Primary Key Responsibilities (Top 3-5 KRA)

• Maintain and continuously enhance the Group's Third-Party Risk Management (TPRM) Policy, framework, and supporting procedures ensuring ongoing alignment with industry best practices, evolving regulatory requirements (e.g., PRA/FCA, DORA, outsourcing and operational resilience guidelines) and the changing third-party risk landscape across the supplier lifecycle.
• Establish and maintain third-party risk management standards & key controls that enable effective risk mitigation and implement robust processes for assessing and monitoring third-party risk controls and performance.
• Serve as a trusted SME in third-party risk management, providing expert guidance and support to business units in the selection, onboarding and management of third-party relationships.
• Develop and maintain a comprehensive risk reporting framework that offers senior management and stakeholders insights into third-party risk exposure.
• Partner with leads across Business Areas and Functions to mature the operating model, framework delivery and governance to allow M&G to better manage risks associated with a complex supply chain including global outsourcing.

Accountabilities/Responsibilities

Commercial Function Collaboration:

• Work closely with the commercial function to align third-party risk management practices with business goals and objectives.
• Ensure that third-party contracts and agreements reflect appropriate risk considerations.

Policy Compliance Oversight:

• Monitor and enforce compliance with third-party risk policies and standards across the organization.
• Conduct regular assessments and audits to identify and address compliance gaps.

Risk Reporting Enhancement:

• Prepare and present regular risk reports and dashboards.

Vendor Relationship Management:

• Collaborate with business units to establish and nurture strong relationships with key third-party vendors.
• Oversee ongoing vendor performance monitoring and risk assessments.

Regulatory Awareness:

• Stay up-to-date with regulatory changes and industry trends pertaining to third-party risk management.
• Ensure that the organization's policies and practices remain fully compliant with relevant regulations.

Third Party Risk Management

• Lead maintenance and oversight of the associated policy, standards and standard operating procedures (SOPs) throughout programme implementation and on an ongoing basis.
• Lead the maturing of the governance framework to enable data-driven insights and oversight of Third Party Risk to the M&G plc Board of Directors, subsidiary Boards, senior management and other key stakeholders.
• Support engagement with group entities on international Third Party Risk Management and Outsourcing regulatory rules and guidance, incorporating these where relevant into group policies, standards, methods and tooling.
• Deliver strategic projects and ad-hoc tasks to support both change and run of a maturing TPRMO framework.
• Take part in joint TPRMO testing with critical third parties.
• Facilitate any required TPRMO controls testing, assurance and / or audit examination requirements.

Key Stakeholder Management

Internal

• Business areas and their relevant third party risk management / commercial management teams
• International teams across M&G plc group
• Finance (Commercial)
• Enterprise Technology
• Human Resources
• Risk and Internal Audit

External

• Members of professional Third Party Risk and Procurement organizations and Industry forums
• External suppliers / outsource partners

Knowledge, Skills, Experience & Educational Qualification

Knowledge & Skills:

• Profound knowledge of regulatory requirements and industry standards pertaining to third-party risk management.
• Strong knowledge of third party risk management and outsourcing best practices including relevant financial services regulations
  Proficiency in risk assessment methodologies, data analysis, and reporting tools.
• Confident and effective at advising and briefing at all levels, including senior stakeholders
• Ability to work independently within a defined remit, managing schedule and objectives with minimal oversight
• Strong communication skills displayed through confident interpersonal and presentation abilities
• Ability to work within a wider team and collaborate effectively across teams, functions and geographies
• Strong written and oral communication skills
• Communication and interpersonal abilities, with a proven track record of effective cross-departmental collaboration.
• Analytical and problem-solving skills.
• Strong attention to detail and the capacity to manage multiple priorities independently.
• Coaching and training of people

Experience:

• 10yrs+ experience in risk management (including Technology and/or security).
• Minimum of 5 years of experience in third-party risk management or a related role within the financial services industry.
• Experience in delivery of third party risk management and outsourcing oversight programmes
• Experience in third party due diligence, risk assessments and financial health monitoring
• Experience using third party management and third party risk management tooling and interest in supporting the maintenance of tools, supporting data sets
• Awareness of TPRMO regulatory expectations
• Experience of delivering training and awareness campaigns
• CTPRP certification will be an advantage

Qualification:

• Graduate in any discipline / Bachelor's degree in Business, Finance, Risk Management, or a related field (Master's degree preferred).

We have a diverse workforce and an inclusive culture at M&G Global Services, regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.