Manager Risk - Vendor Management 1LOD

$122,535 - $208,715/Yr

Royal Bank of Canada

Full-time - Manager

Credit Intermediation and Related Activities

About the position

The Manager of Risk - Vendor Management 1LOD is responsible for developing and overseeing a quality assurance program related to third-party risk assessments and monitoring activities. This role involves collaborating with the Vendor Management team to enhance the overall risk management program, ensuring compliance with established methodologies, and providing training and support to internal stakeholders.

Responsibilities

• Own and develop the 1st Line of Defense quality assurance program, coordinating across multiple subject matter areas
• Develop framework for quality assurance reporting across the 1LOD teams; develop and report to Sr Mgmt and committees on QA metrics, trends, root causes, and resolutions
• Conduct Quality Assurance reviews for all vendor inherent risk assessments and due diligence; Review third party risk assessments for conformance to program objectives and methodology
• Conduct Quality Assurance reviews for vendor ongoing monitoring artifacts
• Perform data reconciliations to ensure quality reporting and governance
• Work across the VMO team to drive remediation plans and increase quality upfront; Effectively monitor the tracking of issues to ensure timely resolution
• Continuous evaluation of the QA program for improvements and efficiencies
• Provide risk awareness and training to colleagues in support of CNB's Third Party Risk Management Policies and Procedures
• Champion the enterprise Vendor Management purpose throughout the organization; train and advise internal CNB staff on the vendor management processes
• Support the greater VMO team as needed during peak times, by conducting risk assessments, producing vendor monitoring artifacts, reporting, or working on vendor related items and issues
• Provide leadership within the VMO team and serve as a TPRM expert for the greater VMO team
• Partner and coordinate closely with internal stakeholder areas (i.e. Information Security, Enterprise Risk Management, Business Continuity Program Office, Credit Administration, and Compliance) to facilitate and evaluate 3rd party service providers
• Support various ad hoc projects supporting program enhancements, process improvements, and other functions
• Ad hoc duties, as assigned

Requirements

• Bachelor's Degree or equivalent
• Minimum of 10 years working knowledge of third party risk management processes and methodologies
• Minimum of 10 years of vendor management, managing vendor contracts and service levels and monitoring vendor performance
• Minimum of 4 years of management experience
• Bachelor's Degree; preferably in an analytical field (such as general business, economics, computer science, mathematics, statistics or finance)
• Required basic knowledge of MS Word and Excel
• Recommended eight (8) years of focused experience in Vendor Governance, Risk Management, IT, Finance, QA, Audit, and/or equivalent business experience
• Excellent analytical, problem solving, and organizational skills required
• Excellent written and verbal communication skills
• Ability to research information, problem solve, and make solid business decisions
• Ability to report, analyze, interpret, and critically think
• Ability to produce accurate and detailed work on multiple projects under time pressure
• Ability to effectively manage relationships with internal and external partners
• Ability to work in a fast paced and changing environment
• Skill in attention to detail, time management, written and oral communication, multi-tasking, and working in a team atmosphere adhering to tight deadlines
• Ability to proficiently work in MS Office and Microsoft SharePoint/Teams

Nice-to-haves

• Preferred Third Party Risk Management experience
• Preferred audit experience
• Preferred management experience, leading teams
• Preferred Industry recognized third party risk management or vendor management certification
• Preferred Intermediate knowledge of Microsoft Office tools; specifically, Excel, PowerPoint and SharePoint
• Preferred Six Sigma certification
• Preferred Project Management Experience

Benefits

• Eligible for bonus and/or commissions
• Comprehensive benefits and perks offered by City National Bank