Insurance Business Analyst (Consulting)

About Albany Beck Albany Beck is a Management Consultancy focused on providing specialist talent and transformative solutions to Financial Services clients. We combine subject matter expertise with innovative delivery models that help clients scale efficiently, while offering meaningful, long-term career opportunities to our people. At Albany Beck, you'll be choosing to work with an organisation that's passionate about your learning journey and committed to your professional and personal development. Role Overview We are seeking an experienced Third-Party Risk Management (TPRM) Business Analyst to join a major regulatory transformation programme supporting a leading Financial Services organisation. This role will play a critical part in helping the organisation enhance its Third-Party Risk Management and outsourcing capabilities in response to evolving regulatory requirements and operational resilience expectations. The successful candidate will work closely with Risk, Procurement, Compliance, Legal, Technology and Business stakeholders to identify compliance gaps, define future-state processes and support the delivery of pragmatic solutions. The programme is focused on strengthening governance, controls and oversight of third-party relationships while embedding sustainable business-as-usual capabilities across the organisation. This is a highly business-focused role requiring strong stakeholder engagement, business analysis and process design expertise rather than technical delivery skills. We are looking for a hands-on Business Analyst who is comfortable operating within a complex, regulated environment, facilitating workshops, gathering requirements and driving consensus across diverse stakeholder groups. The successful candidate will bring experience delivering regulatory change initiatives, ideally within Third-Party Risk Management, Operational Resilience or Outsourcing Risk programmes. Key Responsibilities Work with programme leadership and business stakeholders to deliver Third-Party Risk Management capabilities across the organisation Analyse current-state processes, controls and governance frameworks to identify regulatory and operational gaps Define pragmatic remediation approaches aligned to regulatory requirements and organisational objectives Gather, document and manage business requirements across multiple workstreams Facilitate workshops, stakeholder interviews and working groups to capture requirements and drive decision-making Design and document future-state processes, operating procedures and governance structures Develop process maps, business requirements documents and supporting artefacts Support the selection and implementation of Third-Party Risk Management tools and platforms where required Collaborate with Procurement, Risk, Compliance, Legal and Technology teams to align processes and controls Translate complex regulatory requirements into practical business solutions Support the development of reporting, oversight and risk management capabilities Contribute to Operational Resilience and Outsourcing Risk initiatives where applicable Create user guidance, training materials and knowledge transfer documentation Drive stakeholder engagement and adoption of new processes and controls Support the delivery of minimum viable compliance and long-term sustainable operating models Key Skills & Experience Proven Business Analyst experience within Financial Services Strong experience working on regulatory change, risk management or transformation programmes Experience delivering Third-Party Risk Management (TPRM), Vendor Risk Management or Outsourcing Risk initiatives Strong requirements gathering, analysis and documentation expertise Experience facilitating workshops and engaging senior stakeholders across multiple business functions Strong process mapping, process improvement and business design capabilities Ability to translate regulatory requirements into business requirements and operational solutions Excellent stakeholder management and communication skills Experience developing operating models, governance frameworks and business processes Strong analytical and problem-solving abilities Comfortable working in ambiguous and fast-paced transformation environments Ability to challenge existing processes and drive pragmatic outcomes Experience producing SOPs, policies, standards and procedural documentation Strong organisational and delivery-focused mindset Preferred Experience & Knowledge Experience working on Third-Party Risk Management transformation programmes Knowledge of Operational Resilience frameworks and regulatory expectations Experience working with outsourcing governance and supplier risk management processes Understanding of regulatory requirements relating to third-party risk and outsourcing within Financial Services Familiarity with regulatory frameworks such as PRA SS2/21, EBA outsourcing guidelines, DORA or equivalent regulations Experience supporting RFPs, vendor assessments or technology selection exercises Background within Insurance, Banking or broader Financial Services organisations Experience embedding sustainable business-as-usual risk management capabilities Exposure to TPRM platforms such as Archer, ServiceNow, OneTrust, MetricStream or similar solutions Experience working with cross-functional transformation teams on large-scale change initiatives