Associate Director, Third Party Risk Advisory & Oversight

RBC • Toronto, ON

1d • Onsite

About The Position

The Associate Director, Third Party Risk Advisory & Oversight provides third-party risk oversight and challenge, focusing on our Personal Banking & Commercial Banking, Wealth Management and Insurance segments, as well as coverage for the Asia Pacific region. In addition, the Associate Director is responsible for supporting the design, maintenance, and evolution of a number of key third-party risk controls (e.g. supplier inventory assurance). The Associate Director will work in close partnership across broader Third-Party Risk teams to provide full 2LOD TPRM coverage across the enterprise.

Requirements

• 7-10 years of experience in progressively responsible roles in third party risk and financial services industry or highly regulated industry.
• Relevant University degree
• Advanced quantitative, analytical and problem-solving skills
• Strong understanding of the third-party risk governance framework, practices and contract governance
• Knowledge of the overall Third-Party Lifecycle and specifically OSFI’s Guideline B10, OCC guidance and other relevant regulatory requirements
• Demonstrated delivery and integration experience – ability to objectively interpret information and define problems/root causes

Nice To Haves

• Strategic mindset and capability in problem solving, simplification, efficiency
• Excellent facilitation, written and oral communication and presentation skills
• Skilled in building a network and maintaining key relationships
• Demonstrated project management and organizational skills
• Story-teller – can translate data and information into insights and advice
• Professional Risk Management qualification or certification

Responsibilities

• Act as a leader in Third-Party Risk (TPR) Management
• Deliver on the TPRM vision and execute TPR oversight and challenge
• Foster strong stakeholder relationships to enable active and collaborative working relationships
• Drive a culture of integrity and behaviors that align to RBC’s Code of Conduct and professional standards
• Work collaboratively across teams, enabling an engaged workforce who are effective, knowledgeable and adaptable
• Cultivate an environment of continuous personal growth
• Provide third-party risk oversight and challenge over RBC’s Personal & Commercial Banking, Wealth Management, Insurance and APAC region
• Leverage data-driven insight and provide oversight and challenge on key risk indicators
• Execute scenario-driven and thematic reviews to assess effectiveness of controls across the end-to-end third-party lifecycle
• Review third-party risk related outputs (e.g. pre-contract challenge of engagement risk assessments), risk issues, acceptances and action plans to ensure 1LOD is operating within stated Risk Appetite
• Monitor various types of NSTPs that RBC engages and identify gaps in process, risk assessment, due diligence, ownership, etc.
• Conduct third-party risk event reviews related to areas of support
• Support third-party related regulatory examinations related to Personal Banking & Commercial Banking and Insurance businesses and the APAC region
• Leverage internal and external information sources on current and emerging threats to focus 1LOD attention on emerging risk themes and issues
• Support the design, implementation, and evolution of TPR controls and practices
• Contribute to and execute on the vision, strategy and operating model for TPRM, including supporting integration of operational resilience into TPR practices
• Support the design, implementation, and evolution of controls across the third-party lifecycle, with a specific focus on enhancing 1LOD contract governance and supplier inventory assurance
• Support the continued evolution of RBC’s Non-Supplier Third-Party risk management standard and practices and integration into existing monitoring, reporting, etc
• Support implementation of key ORM initiatives (e.g.: Internal Control Management Policy; Operational Resiliency; NextGen)
• Drive the development, implementation and execution of high-level business requirements
• Identify points of technology integration and opportunities for process and workflow enhancements to drive effective TPRM strategic priorities
• Implement recommendations to achieve target state design to address identified gaps
• Participate in various TPRM focused forums, working groups, committees, and industry events
• Provide impactful Operational Risk advice
• Lead and contribute to thematic reviews, tabletops, and scenarios aimed at identifying third-party risk top and emerging risks, control gaps/enhancements, etc
• Champion behaviors that embed a strong risk management culture across 1st & 2nd LOD, including strong awareness of TPRM practices
• Provide advice and counsel to business partners on adoption of TPRM requirements to implement RBC’s enterprise TPRM strategy

Benefits

• A comprehensive Total Rewards Program including bonuses and flexible benefits
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in an agile, collaborative, progressive, and high-performing team

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level