Director, Vendor Governance (Hybrid)

$148,800 - $201,200/Yr

Prudential Financial - Newark, NJ

Full-time - Director

Hybrid - Newark, NJ

5,001-10,000 employees

Insurance Carriers and Related Activities

About the position

The Director of Vendor Governance will oversee the execution of vendor assessments within Prudential's Third Party Risk Management (TPRM) framework. This role is crucial for ensuring that third-party risks are identified and managed effectively throughout the vendor lifecycle. The Director will work closely with various stakeholders to enhance vendor performance, optimize processes, and ensure compliance with relevant regulations and internal policies.

Responsibilities

• Execute the multi-year strategy for assessments in line with Prudential's TPRM framework.
• Manage centralized work in a cost-effective and efficient manner, focusing on dynamic risk-based processes and tools.
• Develop strong relationships across Global Sourcing & Procurement to support vendor lifecycle tools and processes.
• Oversee outsourced work to ensure quality and timeliness expectations are met and improved over time.
• Maintain strategic relationships with internal control partners to ensure compliance with regulations and internal standards.
• Partner with Vendor Governance Officers and Risk Management to ensure compliance with the TPRM program.
• Provide transparency to assessments executed by the team, highlighting compliance, non-compliance, risks, and exceptions.
• Establish and measure KPIs, KRIs, and metrics for processes.
• Create and deliver training programs for internal stakeholders on managing third-party risks.
• Promote a strong risk culture emphasizing proactive risk mitigation.
• Benchmark industry trends and best practices to enhance organizational capabilities.
• Standardize and automate activities to improve speed, agility, and collaboration.
• Establish a technology and analytics-first philosophy for continual evaluation and optimization.

Requirements

• 5+ years of relevant experience in vendor governance, risk management, or third-party risk management.
• Experience in project management leading complex initiatives with various stakeholders.
• Strong writing skills for reports and project summaries.
• Excellent communication skills to build relationships and influence decision-making.
• Proven track record in leading initiatives with cross-functional relationships.
• Strong problem-solving skills and ability to work independently and as part of a team.
• Experience in process and systems management with a focus on enhancements is a plus.
• Bachelor's degree in Business, Risk, or Finance is preferred.

Nice-to-haves

• Experience with compliance and regulatory frameworks related to vendor management.
• Familiarity with risk assessment tools and methodologies.

Benefits

• Market competitive base salaries with yearly bonus potential.
• Medical, dental, vision, life insurance, and disability insurance.
• Paid Time Off (PTO) and leave of absences, including parental and military leave.
• 401(k) plan with company match (up to 4%).
• Company-funded pension plan.
• Wellness Programs with reimbursement for personal wellbeing needs.
• Work/Life Resources for various support topics.
• Tuition Assistance for traditional college enrollment and accredited programs.
• Employee Stock Purchase Plan with discounted shares after one year of service.