Associate Director, Third Party Risk Practices

Job Summary

The Associate Director, TPR Practices is responsible for developing / maintaining strong RBC risk management practices to effectively and efficiently manage risks arising from Third Parties, in line with regulatory requirements - including end-to-end Enterprise Third Party Risk process, tools, applications, and external and internal data sources.

The Associate Director is responsible for :

• Design and / or update third party risk processes and practices, and related system-enabled requirements, in line with the TPRM Policy / Standards and strategic priorities
• Ensure Third Party Risk practices are deployed consistently across the enterprise, to enable alignment to RBC’s third-party risk appetite and compliance to the TPR Policy.
• Work in close partnership across broader 2LOD and 1LOD teams, ensuring stakeholder engagement and adoption during the development, review and implementation cycle.

Job Description

What is the opportunity?

The GRM Third Party Risk (TPR) team is accountable for RBC’s enterprise-wide Third Party Risk management (TPRM) strategy and framework, enabling RBC to identify, measure, monitor, and mitigate the risks associated with third parties.

TPR works with Senior Management across RBC’s business platforms and functions, providing oversight and challenge to ensure effective implementation of TPRM practices in compliance with regulatory and policy requirements.

TPR also provides strategic advice, education, and key practices across RBC. TPR is also accountable to provide insight on RBC’s overall third-party risk profile.

The Associate Director, TPR Practices is responsible for developing / maintaining strong RBC risk management practices to effectively and efficiently manage risks arising from Third Parties, in line with regulatory requirements - including end-to-end Enterprise Third Party Risk process, tools, applications, and external and internal data sources.

The Associate Director is responsible for :

• Design and / or update third party risk processes and practices, and related system-enabled requirements, in line with the TPRM Policy / Standards and strategic priorities
• Ensure Third Party Risk practices are deployed consistently across the enterprise, to enable alignment to RBC’s third-party risk appetite and compliance to the TPR Policy.
• Work in close partnership across broader 2LOD and 1LOD teams, ensuring stakeholder engagement and adoption during the development, review and implementation cycle.

What will you do?

Enable evolution of Enterprise TPRM Process and Practices

• Design, build, deploy and maintain RBC’s enterprise third-party risk process and practices across the third party risk lifecycle.
• Assess and strengthen third party risk methodologies, including relevant risk domains, in alignment with regulatory requirements and industry practices.
• Enable alignment of third party risk practices with operational risk practices, and consistency across platforms.
• Grow RBC’s risk intelligence practices to ensure that TPR capitalizes on all external and internal data assets, driving proactive and responsive risk management.
• Support updates to third-party application and tools, working in close partnership with the Operation Risk Shared Services (ORSS) team.
• Lead projects / complex initiatives, including plan creation and execution plan, track in detail and reporting at the executive level.
• Be aware / knowledgeable of Third Party Risk regulatory requirements, regulatory trends and industry best practices.

Ensure alignment of Enterprise TPRM Process and Practices

• Support the integration of business segments to RBC’s TPRM Program (including portfolio migration).
• Ensure critical stakeholders and appropriate approval authorities are involved on changes to practices / processes; work with TPR Policy owner to ensure practices are well reflected in TPR Policy and standards.
• Develop processes and operating procedures documentation, including templates, to enable consistent application of TPR practices
• Engage with TPR team members to ensure understanding of TPR practices and consistency across controls, providing support where required
• Engage with Centres of Governance who support specific RBC’s TPRM practices, ensuring appropriate alignment with supporting requirements / expectations.

Monitor Practices for Sustainability and Continues Improvement

Collaborate with TPR peers to enable change management and provide oversight on the execution of key enterprise practices across 1LOD and 2LOD, e.

g. critical supplier, issues management, etc.

• Monitor the effectiveness of 2LOD TPR controls and coordinate / oversee testing is performed on a timely basis
• Develop and execute internal processes and controls to ensure adoption of practices and tools that support the program.
• Use data / indicators and stakeholders input to assess or validate the effectiveness and efficiency of practices, and incorporate findings into opportunities for future enhancements.

Act as a Leader in TPR and GRM OR

• Demonstrate a collaborative work ethic and enterprise-wide mindset in the performance of duties.
• Support a dedicated and high performing team, aligning with RBC’s vision and targeted behaviors that contribute to RBC goals.
• Promote a strong culture of control awareness and risk mitigation.
• Leverage the value in unit, department, and enterprise-wide teams to develop better solutions and achieve optimal enterprise-wide results.
• Accept and successfully executive change while supporting colleagues through the process, keeping focused on business priorities.

What do I need to succeed?

• 7+ years of experience in progressively responsible roles in the financial services industry with direct exposure to operational risk management, the third party risk lifecycle, enterprise-wide mandates
• Leadership experience in process design and process re-engineering
• Established acumen in Governance-Risk-Compliance (GRC) through 1LOD or 2LOD roles
• Strong understanding of the third-party risk governance framework and practices
• Good knowledge of global TPR regulatory requirements / best practices
• Change management acumen and direct experience in delivering risk management change initiatives
• Demonstrated continuous improvement mindset and delivery track record
• Strong leadership and people management skills
• Organizational skills to effectively manage different workstreams in the context of large projects, and deliver against plans / deadlines
• Undergraduate degree required. Although not required, relevant graduate degrees or professional certifications are valued differentiators (e.

g. MBA, Six Sigma; Professional Risk Management)

Nice-to-Have

• Strategic mindset and capability in problem solving, simplification, efficiency
• Demonstrated project management and organizational skills
• Story-teller with strong presentation skills can apply risk acumen and translate information into insights and solutions, and develop / deliver presentations at the executive level

What's in it for you?

• A Total Rewards program that includes flexible benefits, work / life balance and career development programs and investment and retirement savings plans
• Competitive pay and high-earning potential
• All the tools, training, and team support you need to grow your business and career
• Flexible work / life balance options
• Sophisticated RBCI software tools to boost your productivity and grow your business

Job Skills

Change Management, Communication, Continual Improvement Process, Critical Thinking, Governance Risk, Group Problem Solving, Operational Risk Management, Operational Risks, Oral Presentation, Paper Presentations, Prioritization, Process Approach, Process Design, Risk Assessments, Risk Management, Risk Mitigation Strategies, Stakeholder Management, Strategic Thinking, Teamwork, Third Party Risk Management

Additional Job Details

Address :

20 KING ST W : TORONTO

City : TORONTO

TORONTO

Country : Canada

Canada

Work hours / week : 37.5

37.5

Employment Type : Full time

Full time

Platform :

GROUP RISK MANAGEMENT

Job Type : Regular

Regular

Pay Type : Salaried

Salaried

Posted Date : 2024-06-19

2024-06-19

Application Deadline :

2024-06-30

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