Third Party Risk Management Lead
City : Surrey, British Columbia, CA, V3T 0K7
Category : See posting
Industry : Financial Services
Employer : Coast Capital
Location: Help Headquarters
Job Type: Full Time
myWork Options: In-person, Remote, Hybrid
What's the job?
As the third Party Risk Management Lead, you will support all 3rd party risk management processes at Coast within Strategic Supplier Sourcing. This professional will facilitate the entire due diligence process and work with risk subject matter experts to develop controls during the contracting of work with suppliers. This professional will drive the activities to create a centralized vendor repository in the risk assessment tool with key elements such as vendor profile, data risk, agreements and SOWs, due diligence and risk assessment. This professional will understand significant aspects of third-party risk, including information security, privacy, finance and operational risk. During the third-party risk assessment, this professional will play a critical role in facilitating the entire process from Inherent Risk to Residual Risk and will work directly with multiple stakeholders such as Sourcing Leads, Information Security, Privacy, Finance, Operational Risk Management and Legal teams. They will also monitor the supplier risks post-contract, during the life of the supplier relationship and adhere to Coast Capital's risk strategy, appetite, and 3rd Party Risk Management framework and will be required to collaborate with all cross-functional stakeholders, implementing data collection strategies that result in timely and accurate completion of reporting and audit requests. In addition, this professional will also be supporting SSS's policy aspects, including developing process documentation and ensuring supplier adherence to Coast Capital Savings' applicable corporate policies. The incumbent ensures thorough risk analysis by providing insights to support sustainable business results, ascertains the residual risk for each engagement and facilitates the approval process as and when required.
What you'll get to do:
- Conduct/ Validate the Inherent Risk Assessment for vendor engagements
- Conduct preliminary information security, finance and privacy assessments.
- Identify the Triage and determine the appropriate type and frequency of due diligence.
- Conduct the risk assessment with all the relevant stakeholders and present the findings to the business owners.
- Ascertain the residual risk rating and facilitate the approval process when required.
- Implement, socialize and continually improve third-party governance with internal and external stakeholders.
- Ensure compliance with applicable requirements and guidelines for third-party risk management with regulatory bodies (OSFI/ AMLATF/BASEL)
- Responsible for creating, storing and updating a centralized vendor repository, including vendor profiles, artifacts, risk assessments and contract obligations within the risk assessment tool.
- Support updating policies/guidelines/frameworks for identification, control and reporting of 3rd Party Risks and SLAs to be in sync with Enterprise Risk Management Frameworks, Policies and Guidelines.
- Leverage risk register to track, monitor and update risks and controls
- Create, review and maintain policies, frameworks, and SSS operating procedures related to vendor management, outsourcing, and third-party risk management. Ensure enterprise compliance with policies and procedures.
- Manage the evaluation of suppliers through the development, production and analysis of appropriate portfolio monitoring tools and reports.
- Support transformation activities for the team and collaborate with Sourcing Leads to achieve the overall Team objectives.
- Performed within approved guidelines prescribed by supervisor/policy. Exercise independent judgment in selecting and interpreting information, reconciling deviations from standard methods and resolving problems. Finished work is reviewed for the attainment of objectives and effectiveness of results.
- Moderate planning of projects and work involving others is required. Some coordination of programs, budgets and activities takes place.
- Results achieved are internally focused and affect several units within a department, and they are externally focused and affect segments of customers and stakeholders impacted by department programs and services.
Who You Are:
- Minimum 4 – 6 Years of Job-Related Experience and 4+ years' experience in Audit, Third Party Risk Management, Information Security and Privacy. 1-2 Experience creating policies and standard operating procedures. Risk management experience in the Banking/ Financial Services industry is an asset.
- Bachelor's Degree in Business, Economics or a related discipline. Certificate or designation in risk management, Information security and Privacy Risk is an asset.
- Good understanding of end to end Third Party Risk Management process
- Excellent knowledge of Microsoft Office, including PowerPoint, Word, Excel & SharePoint.
- Experience with any leading third-party risk assessment tools/ technology would be preferable.
- Proven ability to develop win/win solutions through innovative and strategic thinking skills.
- Strong interpersonal, communication and relationship-building skills and an ability to work with people at all levels.
- Excellent Stakeholder Management communication skills
- Strong research, analytical and problem-solving skills.
- Motivated self-starter who can work independently, manage multiple assignments, and meet aggressive deadlines.
- Excellent presentation and organizational skills to produce quality work with exceptional attention to detail.
Equity, Diversity & Inclusion at Coast Capital
Don’t meet every single requirement? At Coast Capital, we believe everyone has potential. We are committed to building better, brighter, more inclusive futures for everyone – including our employees. We see the potential in our employees to achieve amazing things and want to invest in your future. If you’re excited about this career opportunity and your experience may not perfectly align with every qualification in this job posting, we still encourage you to apply. You may be just the right candidate for this or other opportunities at Coast Capital.
At Coast Capital, we are committed to equity, diversity and inclusion. We strongly encourage applications from Indigenous Peoples, Black, and racialized persons, persons with disabilities, people of diverse sexual and gender identities and women. We value applicants who have demonstrated a commitment to equity, diversity and inclusion and recognize that diverse perspectives, experiences and expertise benefit of our employees, our members, and our community.
We strive to provide an accessible candidate experience for our candidates with different abilities. If you require any accommodations, please contact firstname.lastname@example.org or call 778-391-5836. We will work with you to meet your needs.