Counsel – Third Party Risk Management (TPRM)

Overview

As Counsel, you will support the Legal function in mitigating third-party risk across vendors, consultants, and outsourced services. You will review and negotiate contracts, ensure risk-aligned terms, and manage templates and playbooks to reflect regulatory developments. You’ll work with procurement, information security, and business teams to align contracts with operational and regulatory requirements. The role centers on regulatory horizon scanning and embedding changes into processes to protect the organization. This is a chance to influence risk governance within a global risk management leader.

Responsibilities

• Review, draft and negotiate vendor, consultant, outsourcing, TOBAS and NDAs, applying the organisation’s risk appetite and standard positions
• Apply proportionate legal review calibrated to contract risk tier, including outsourcing/regulatory frameworks (PRA/FCA, EIOPA/Solvency II, DORA)
• Coordinate with procurement, information security, data protection and business stakeholders to reflect compliance requirements in contracts
• Identify and escalate contracts with material legal, regulatory or reputational risk
• Support due diligence and remediation for existing third-party arrangements
• Monitor and summarise regulatory developments relevant to TPRM, outsourcing and operational resilience (UK and Ireland)
• Produce concise briefings on regulatory changes and practical contract impact
• Track implementation deadlines and embed regulatory changes into templates, playbooks and processes
• Own and maintain TPRM templates and negotiation playbooks (vendor, consultancy, outsourcing clauses, DORA, NDAs)
• Train and guide procurement and business teams on template use and escalation triggers
• Maintain records of contract review status, risk logs and regulatory tracking
• Contribute to process improvements in TPRM workflows

Key requirements

• Qualified lawyer (England & Wales) with ≥1 year PQE or an experienced paralegal with relevant commercial contract experience
• Experience reviewing and negotiating commercial contracts
• Familiarity with financial services/insurance regulatory frameworks relevant to outsourcing (PRA/FCA outsourcing, operational resilience, Solvency II)
• Strong drafting and negotiation skills for high-volume contracting
• Good research and summarisation skills to translate regulatory developments into practical guidance
• Highly organised with attention to detail and ability to manage template libraries
• Confident communicator capable of engaging with procurement, risk, information security and business stakeholders
• Reinsurance sector experience is advantageous but not essential

• strong drafting and negotiation
• highly organised
• confident communicator
• contract review and negotiation
• regulatory horizon scanning
• template and playbook management

…