Third Party Risk and Vendor Management Officer

Questrade Financial Group•Toronto, ON

34d•CA$70,000 - CA$95,000•Hybrid

About The Position

The Third Party Risk and Vendor Management Officer will support the Senior Manager in the development and execution of a centralized Third Party Risk Management Framework (TPRMF) for Questbank. This role focuses heavily on building and maintaining robust TPRM processes that empower various internal risk domains to effectively evaluate and monitor suppliers. The Officer will ensure that the centralized program aligns with Canadian regulatory expectations, particularly OSFI B-10 guidelines, while maintaining a strong first line of defence against third-party risks.

Requirements

University degree in Business Management, Economics, Finance, or a related field.
3-5 years of specialized experience in Third Party Risk Management or a related field.
Familiar with Third Party Risk Management Frameworks and Governance, specifically OSFI B10.
Strong understanding of the end to end Third Party Risk Management workflow. From intake to contract signing.
Strong attention to detail and confidence in challenging the risk landscape.
Strong analytical skills, ability to set priorities and translate complex risk requirements into technical system workflows.
Possesses excellent oral and written communication skills, with the ability to convey complex risk concepts in a clear, concise manner to various audiences and risk domains.
Adapts quickly to changing regulatory conditions and evolving risks within the TPRM space.
Seeks new approaches to solve problems and views mistakes as opportunities to learn.
Ability to understand company-wide project initiatives, see cross-functional impacts, and comprehend overall company business directives.
Creates a feeling of belonging and strong team morale among cross-functional formal and informal teams.

Responsibilities

Support the development and maintenance of first line TPRM policies, procedures, and guidelines to be utilized by risk domains and contract owners across the bank.
Act as the liaison between risk domain users, contract owners and the development team for the TPRM technology solution.
Proactively collect and analyze user requirements, system feedback, and process pain points from internal stakeholders utilizing the TPRM platform.
Translate business needs and feedback into well-structured user stories, acceptance criteria, and workflows to guide the development of the platform.
Provide guidance and support to business lines regarding the identification, management, and reporting of third-party risks, as well as the implementation of control and risk mitigation measures.
Help manage and facilitate the vendor review process, focusing on risk assessments and due diligence requirements.
Ensure business activities, functions, and services performed by third parties are in compliance with applicable regulatory requirements, such as OSFI B-10, and internal policies.
Collaborate with the Procurement and Vendor Management Office (VMO) and Legal teams to ensure alignment with enterprise requirements and the effective use of shared resources.
Identify and escalate third-party potential or actual performance or risk issues using the prescribed escalation channels.