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Third Party Risk Senior Manager

Company Description

  • Supportive leaders that value your career development.  
  • Your development plan guides your career with us 
  • We protect more than 4.5 million Australians and their families  

Welcome to This Australian Life.  

From the millions of Australians we protect, to those that make it happen every day at TAL, people really are what we’re all about. We want to grow with you. Achieve with you. And support you to do your best work. That's why we're focused on developing leadership, promoting diversity, rewarding excellence, and retaining great talent. 

We're always looking for people who want to go further with us. People who do what’s right, aim high, and work smart.  Why not see where we can go? 

Job Description

TAL relies on Third Parties in the conduct of its business. While these relationships offer significant benefits, they also introduce various risks that can impact TAL’s customers, operations, reputation and/or financial stability. The new APRA prudential standard CPS 230 Operational Risk Management will be looking to ensure that APRA regulated entities are resilient to operational risks and disruptions including managing risks arising from the use of Third Parties.

The Third Party Risk Senior Manager plays a critical role in ensuring the effective implementation of the Third Party Risk Management Policy including identifying, assessing, mitigating and monitoring the risks associated with our Third Party arrangements. You will be responsible for driving delivery and embedment of Policy requirements, meeting business needs and deliver a positive benefit through your SME support.

This is a hands-on and highly visible role to support the business in successfully achieving compliance with the new Policy requirements.

  • Collaborate with various business units to implement and embed the specific requirements of the new Third Party Risk Management Policy. In particular, this will involve providing SME support to L1 Ris teams as the Policy requirements are embedded to existing and new Third Parties. 
  • Ensure risk management activities related to Third Parties are conducted in accordance with all relevant policies and procedures and is reflected downstream in the relevant business profile’s risks and controls
  • Support the business in conducting risk assessments and due diligence during onboarding of Third Parties.
  • Support the business in monitoring the performance of Third Parties including control effectiveness and reporting to relevant Committees.
  • Conduct training, oversight and challenge, regulator reporting and biennial review of the Framework and Policy
  • Overseeing compliance with the Policy for Material Service Providers and supporting submission of the Material Service Provider Register on an annual basis.

Qualifications

  • A minimum of 5 years of experience working in Risk, preferably in the Insurance industry and with a focus on Third Party Risk management 
  • Experience working across multiple business units in a large and complex organisation
  • Ability to constructively challenge stakeholders on their needs to determine the right outcome
  • Excellent relationship development, management and negotiation skills
  • Excellent organisation skills and ability to deal with and meet constant and short deadlines
  • Ability to manage, lead, influence and conflict resolve with multiple stakeholders

You’re always accountable for your actions. You never give up. You strive to find the best outcomes for customers and partners. And you value working together to find the best solutions for problems.  

As part of the recruitment process, there are a number of checks which may be conducted to demonstrate your eligibility for a role at TAL including Criminal History, Bankruptcy, Entitlement to Work, Regulatory and Reference Checks. 

Additional Information

At TAL we value diversity in all its forms and are committed to fostering an inclusive and equitable culture for all our people. We encourage Aboriginal and Torres Strait Islander people, individuals from all backgrounds, including those with caring responsibilities, people living with disability, and individuals from the CALD and LGBTQI+ communities to apply. Even if you don’t check every box in the criteria above, we encourage you to apply today or get in touch with us here.  

To provide you with the best experience, we can accommodate you at any stage of the recruitment process. Simply inform our Recruitment team at any time.  

TAL is recognised by the Workplace Gender Equality Agency as an Employer of Choice.  We are proud to be a member of Diversity Council Australia and the Australian Network on Disability. For information on our reconciliation journey, please read our Innovate Reconciliation Action Plan.  

We acknowledge the Traditional Custodians of the Land in which our Head Office is based, the land of the Gadigal people of the Eora Nation, and recognise their deep connections to the land, sea, and culture.  
We extend this acknowledgment to the many Traditional Lands that we operate across and pay our respects to Elders past, present, and emerging. 

#LI-Hybrid 

Everyone at TAL has a responsibility to do the right thing and is accountable for the way they conduct themselves. Our expectations are that you follow the principles set out in our Code of Conduct when you come to work every day. Risk management is everyone’s responsibility.

If you are already a TAL employee please apply via the SmartRecruiters button in Workday and navigate to the Employee Portal. This is important to ensure that your application is recorded accurately.

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Average salary estimate

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What You Should Know About Third Party Risk Senior Manager, TAL

TAL is on the lookout for a dedicated Third Party Risk Senior Manager to join our team located at 363 George Street, Sydney, Australia. At TAL, we pride ourselves on being a supportive and inclusive company that fosters career development. We believe in the importance of strong leadership and promoting diversity, ensuring our team feels valued and empowered. The Third Party Risk Senior Manager will play a pivotal role in managing risks associated with third-party relationships which are crucial to our operations. This hands-on position involves collaborating with various business units to implement our Third Party Risk Management Policy, ensuring compliance with APRA's new prudential standards. You will assess and mitigate risks, conduct due diligence during onboarding, monitor third-party performance, and oversee compliance procedures. Your ability to constructively challenge stakeholders and develop strong relationships will be key in driving our objectives. With at least five years of experience in risk management, specifically within the insurance industry, your expertise will help shape our strategic approach to third-party engagements. We believe that accountability, collaboration, and striving for the best outcomes are vital to our mission at TAL. Join us on this exciting journey where your contributions will make a real difference to the lives of over 4.5 million Australians and their families. If you're ready for the next step in your career, we encourage you to apply today!

Frequently Asked Questions (FAQs) for Third Party Risk Senior Manager Role at TAL
What are the main responsibilities of a Third Party Risk Senior Manager at TAL?

As a Third Party Risk Senior Manager at TAL, your key responsibilities include implementing the Third Party Risk Management Policy, conducting risk assessments, supporting business units with third-party onboarding, and monitoring third-party performance. You will also oversee compliance based on APRA's prudential standards, ensuring that risk management activities align with our strategic goals.

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What qualifications do I need to apply for the Third Party Risk Senior Manager position at TAL?

To apply for the Third Party Risk Senior Manager role at TAL, candidates should have a minimum of five years of experience in risk management, particularly focusing on third-party risks, preferably in the insurance sector. Strong relationship management and negotiation skills, along with the ability to work collaboratively across multiple business units, are essential for success in this position.

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How does TAL support career development for the Third Party Risk Senior Manager?

At TAL, we are committed to your career development by providing you with a structured development plan that guides your progression. As a Third Party Risk Senior Manager, you'll have opportunities for training, leadership development, and can engage with diverse teams, all of which will support your growth and career advancement within the company.

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What kind of work environment can a Third Party Risk Senior Manager expect at TAL?

TAL fosters a collaborative and inclusive work environment that supports its employees. As a Third Party Risk Senior Manager, you will work in a highly visible role that encourages you to engage with various teams, address challenges head-on, and contribute to the overall success of the organization while upholding our core values of accountability and integrity.

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What is the significance of third-party risk management in TAL's operations?

Third-party risk management is crucial for TAL because our relationships with external partners can significantly impact our operations and reputation. The Third Party Risk Senior Manager plays a vital role in proactively identifying, assessing, mitigating, and monitoring these risks, ensuring that our business remains compliant, resilient, and able to protect the interests of our 4.5 million customers.

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Common Interview Questions for Third Party Risk Senior Manager
Can you describe your experience with third-party risk management?

When answering this question, highlight specific examples of third-party risk assessments you've conducted, detailing the methodologies used and the outcomes achieved. Focus on the role those assessments played in informing business decisions and ensuring compliance.

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How do you prioritize risks when managing third-party relationships?

Discuss your approach to risk prioritization, emphasizing risk assessment frameworks, stakeholder input, and how you've historically differentiated between moderate and critical risks. Provide examples of past experiences where your prioritization positively impacted the business.

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What challenges have you faced in third-party risk management, and how did you overcome them?

Be prepared to talk about specific challenges, whether they were stakeholder resistance, compliance issues, or data accessibility. Discuss the steps you took to address these challenges, showcasing your problem-solving abilities and resilience.

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How do you ensure compliance with regulatory requirements in your role?

Explain your process for staying up-to-date with regulatory changes and your experience in implementing compliance frameworks. Highlight specific regulatory standards you've enforced and the systems you’ve set up to monitor ongoing compliance.

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How do you build relationships across different teams within a large organization?

Share your strategies for effective communication and collaboration, such as regular meetings, transparent reporting, and leveraging informal interactions to foster trust. Provide examples of successful partnerships that benefitted from your relationship-building skills.

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Describe a time when you had to constructively challenge a stakeholder's approach to third-party risks.

Use this opportunity to showcase your diplomatic skills and ability to communicate effectively. Discuss the situation, your rationale for the challenge, and how you managed to reach a mutually beneficial resolution.

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What metrics do you consider vital for assessing the performance of third parties?

Discuss the key performance indicators (KPIs) you track for third-party performance evaluation, such as service delivery, compliance metrics, risk incident reports, and how each metric aligns with TAL's overall objectives.

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How do you stay informed about emerging risks in third-party relationships?

Elaborate on your methods for risk monitoring, such as industry publications, networking with peers, and attending conferences or training. Highlight how these practices have helped you identify and address emerging risks promptly.

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What role does training play in third-party risk management?

Explain the importance of training in ensuring that all stakeholders understand the policies and procedures related to third-party risk management. Provide examples of training programs you've developed or delivered, emphasizing their impact on compliance and risk awareness.

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What strategies do you use to develop a culture of risk awareness within an organization?

Discuss your approach to fostering a risk-aware culture, including regular communication about risks, incentivizing best practices, and creating an environment where employees feel comfortable discussing concerns. Provide examples of successful initiatives you led to build this culture.

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Every day our people work to help Australians live a life filled with choices, options and freedoms, no matter what happens. We believe deeply in the value of what we do and together with our partners, today we protect nearly 4 million Australian...

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DATE POSTED
April 19, 2025

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