Manager, Third Party Risk Supplier Assurance

RBC•Toronto, ON

3d•Onsite

About The Position

As a key contributor of the Personal Banking & Commercial Banking Supplier Management Office (SMO) team, you will focus on conducting supplier assurance reviews of third parties, contributing to the development of the SMO’s new QA and Assurance framework, identifying process improvements, and collaborating with stakeholders such as business units, governance teams, and other Supplier Management Offices (SMOs). You will leverage your expertise in third-party risk management, operational risk, and regulatory compliance, with a focus on ensuring our business partners meet third party risk requirements and identifying operational efficiencies. This position is critical for mitigating third-party risks and ensuring compliance with RBC’s Enterprise Third Party Risk Management Policy.

Requirements

2+ years' experience in third party risk management or operational risk roles
Deep knowledge of third-party risk standards and best practices, and working knowledge of the Archer SRMA system
Proven expertise in Operational Risk and regulatory compliance
Self starter with ability to prioritize own work, while working as a team to deliver results
Ability to apply strategic thinking to translating risk concepts into business language
Professional oral and written communication skills
Strong analytical and problem-solving capabilities
Change management and stakeholder engagement expertise, with a proven ability to influence cross-functional teams and senior leadership
Attention to detail and commitment to quality and compliance
Ability to work in a fast-paced, dynamic environment
Bachelor’s degree in finance, Business Administration, Risk Management, or related field

Nice To Haves

College, university or equivalent project management designation
Professional risk certification (e.g., FRM, CRM, PRM)
Advanced capabilities in data analysis, dashboarding and reporting (Excel, Tableau, or similar tools)

Responsibilities

Lead 3rd party risk assurance reviews on PB & CB’s supplier engagements to ensure compliance to requirements such as Supplier Code of Conduct, Certificate of Insurance, anchoring platform, and to ensure EIM/SRMA findings are remediated within the defined timelines
Develops and delivers training and awareness on third-party risk management and policy compliance to internal partners
Monitors to ensure KRI’s stay within thresholds; works with the LOBs to ensure the appropriate action plans are in place to address any KRI breaches, controls gaps etc
Provide subject matter expert support to the engagement owners and supplier managers in support of the Enterprise 3rd party risk policies and standards
Support the development and maintenance of the 1st Line of Defense (1LOD) assurance framework, including reporting metrics, trends, and remediation efforts for senior management
Identify process improvements to enhance operational efficiencies in supplier management and risk assessment processes
Collaborate with, and challenge stakeholders (e.g., business units, governance teams, Supplier Management Offices) to address risk concerns and ensure QA compliance
Identify Supplier Assurance and quality gaps, and support the logging of issues / findings, escalating non-compliance or critical risks to senior management as needed
Support regulatory/compliance initiatives as required
Support business with timely completion of supplier risk activities and adherence to established service standards
Forward plan assurance activities to meet due diligence requirements and identify operational efficiency opportunities