Here at Fnality, we are powering the future of finance, together: combining best in class technology with free-flowing creativity, and expertise that can make business better for everyone. There are no precedents for what we're doing. With you on our side, we'll be setting new ones every day.
In a complex world, we are here to bring clarity and make positive change.
Fnality UK Limited (Fnality UK) is the newest and first entity within the Fnality Global Payments ecosystem, the operator of a newly regulated payment system for the United Kingdom. Fnality UK operates on a Lean resourcing model. There are currently 12 employees for Fnality UK, which is supported by the wider organisation of around 80 people, so we need people to be flexible and happy to get involved in a variety of tasks.
The Vendor Manager Role:
Fnality UK is looking for a Vendor Manager who can demonstrate competencies which will enable them to successfully:
- Manage the vendor relationships with our partners and third parties/vendors ensuring that they deliver against their contracts
- Provide expertise to the Fnality team
- Act as escalation point for vendor related issues
- Manage the vendor contract process with help from legal and finance, ensuring quality and timely contracts are drafted
Reporting into the CIO for FnUK, who reports to the CEO for FnUK
- No line management responsibility
You will need to take accountability for:
- Development of the sourcing/outsourcing strategy and RFPs in an agile way that identifies efficiencies
- Supporting engagements with potential service providers to assess their services, risks, and suitability – prior to recommending approval for contracting
- Managing the RFP process through to selection and onboarding, including any associated internal governance processes on vendor selection and appointment
- Identifying measures which mitigate risk when working with a vendor, such as concentration risk
- Employing a risk-led approach to onboarding and partnering with Vendors. Applying appropriate techniques to ensure effectiveness, coordination and cooperation which contribute to reducing risk
- Active review of vendor performance to ensure delivery of the contractual SLA obligation
- Ensuring performance improvement actions/commitments are robust, met on time and tracked for effectiveness
- Managing an ongoing due diligence process to monitor changes at vendors that may impact their risk to Fnality
- Monitor and prepare for failure or lack of delivery from vendors, partners or third parties, ensuring exit pans are robust and tested.
- Liaising with internal Fnality UK members to ensure compliance with internal governance processes on ongoing vendor management and regulatory requirements on outsourcing and third-party service providers.
Required knowledge, skills and abilities:
- Engaging delivery partners and vendors and managing them through from due diligence to onboarding
- Managing vendor performance in line with statements of work and agreed service levels
- Dispute resolution, either internally or externally, informally, or formally
- Understand and collaboratively contribute to delivering the organisations' business strategy, outcomes and success criteria
- Excellent customer service relationship and service management skills
- A clear understanding of the higher standards applicable to material or critical outsourcings for regulated institutions
- Effective stakeholder management with one or more of the following groups: Regulators, Partners, Employees/Colleagues, Shareholders, Participants, Central Banks
- Ability to take a hands-on approach to staying informed, provide insight and critical updates to internal and external stakeholders
Demonstration of fungibility and flexibility:
- Ability to cover for others where appropriate within the Tech & Ops team
- Willingness to learn about all aspects of the business
- Proactive engagement on all aspects of the business
- Understanding of risk in an organisation and its importance to its business model
Nice to have:
- Knowledgeable in decentralisation and why it is important to Fnality from a network, infrastructure and 3rd party point of view
- A good working knowledge of Financial Market Infrastructure or payment system regulations and regulatory requirements, particularly with respect to outsourcing and third-party service providers
- Application and understanding of Agile methodologies.
A bit more about us
Digital transformation is changing our lives, work and businesses. While other sectors evolve however, financial markets remain slow, fragmented and siloed. What the world needs now is a future-facing financial system for the digital age.
At Fnality, we have been speaking - and listening - to the real users of today's financial systems. From businesses to banks, there is a clear, collective ambition for a simpler, faster, safer and more resilient payment system; one that can move and settle money quickly and efficiently, with minimised risk and much more transparency.
Fnality Global Payments
We are building a new payment system that will enable tokenised, peer-to-peer markets.
Fnality Global Payments (FnGP) will comprise a series of national systems, each regulated in its home jurisdiction. We call each of these a Fnality Payment System (FnPS)
In each payment system, a Fnality settlement asset will act as the settlement/payment asset for any Payment (P), Delivery v, Payment (DvP) or payment vs. payment (PvP) need.
FnGP are underpinned by Distributed Ledger Technology (DLT). The nature of DLT is such that it enables FnGP to:
- Operate a true peer-to-peer market
- Allow for immediate settlement
- Interoperate across business platforms and jurisdictions
- The key benefits of the above are:
- Reduced counter-party and credit risk
- Reduced operational risk
- Efficient liquidity management
- An ability to move resources from risk mitigation to business growth
This X role is with the entity running the UK FnPS, it is a UK based role and you must be eligible to work in the UK. Please note we cannot sponsor visas for this role.
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