Director, Third Party Risk Management

Found in: Talent CA C2 - 2 weeks ago


Toronto, Canada Sun Life Full time

Job Description

:

Reporting to the Assistant Vice President, Corporate Operational Risk Management (CORM), the Director, Third Party Risk Management, is accountable for the oversight of the third-party risk management policy requirements and underlying programs to support third-party risk management across the enterprise. Our third-party governance framework and requirements are core to how we provide oversight to our business partners and ensure effective challenge is carried out by the first- and second-line risk teams. The Director will support maintenance of the Third Party Risk Management (TPRM) program leading continuous improvement of the methodology, including enhancements to tools. This dynamic role is accountable to assist in supporting the enterprise-wide Third-Party Risk Management program through transformation initiatives, driving innovation, and strengthening program governance, effectiveness, and efficiency.

What you'll be doing

Maintain the TPRM Policy and Enterprise Operating Guideline (EOG), outlining governance requirements for the third-party risk management program.

Review and oversee alignment of third-party risk governance documents established by Sun Life subsidiaries and joint ventures. 

Provide guidance and advice to the Business Group Risk Office teams when judgement or further clarification is required on adherence to the TPRM Policy and EOG.

Oversee compliance to TPRM governance policy including monitoring TPRM Policy non-compliances and reporting of material non-compliances to the Operational Risk and Compliance Committee.

On a quarterly basis, independently evaluate the aggregate enterprise third party risk profile and ensure reporting of results along with any material issues on third party risk management program to the ORCC.

Prepare Reports to senior management and the Board annually on the status of the third-party risk management program.

Develop, maintain and deliver training to Business Group Risk Office teams and other stakeholders as required.

Provide oversight of Sun Life’s implementation of various third-party risk management program elements.

Works closely with Business Group Risk Office teams in effective roll-out of program changes.

Monitor and benchmark Sun Life third-party risk practices against industry standards and best practices.

Provide advice into strategic decisions and program improvements related to the Third-party Risk Management program.

Establish, maintain, and continually enhance the oversight and monitoring frameworks with respect to the TPRM program;

Leverage business and industry acumen and assess complex third-party risk issues to guide solution recommendations and mitigate third party risk

What you'll need to succeed

8+ years of risk management experience, with a proven track record of designing and implementing effective TPRM programs, controls, and processes, ideally within a major Federally Regulated Financial Institution.

Strong knowledge of third-party risk management principles and factors that contribute to third-party risk, with the ability to assess, measure and monitor risk.

Exceptional analytical, problem-solving, and decision-making abilities, with keen attention to detail.

Excellent communication and interpersonal skills, with the ability to influence and communicate complex concepts to a diverse audience.

Proactive and adaptable mindset with the ability to thrive in a fast-paced and rapidly evolving industry and organization.

A good understanding of the different risk domains pertaining to third party risk management and their unique requirements is advantageous.

Prior experience with implementing, managing and maintaining a ServiceNow TPRM implementation or experience with implementation of a similar TPRM or GRC tool.

Well developed writing and visual presentation skills to sufficiently articulate analytics results, options, recommendations and reporting.

Direct experience writing policies and guidelines.

Understanding of products, practices, and operational risks at Sun Life

Effective change management, through impact and influence skills.

Strong knowledge of third-party risk management landscape, financial industry leading practices and regulator expectations for third-party risk.

Demonstrable experience of developing strong working relationships with cross-functional business areas and multi-stakeholder landscape to drive execution of key deliverables and facilitate successful risk management within the Three Lines of Defense model.

Strategic mindset - ability to understand client or business requirements - either common or novel, and develop innovative solutions.

Proven experience dealing with complexity and ambiguity. Ability to use broad knowledge and perspective, keen analysis, sound reasoning, and sound professional judgement to arrive at quality decisions when dealing with the complexity and ambiguity related to the program.

What's in it for you

Being a member of the Sun Life family, a group of people united by our Purpose: to help Clients and Employees achieve lifetime financial security and live healthier lives. Flexible Benefits from the day you join to meet the needs of you and your family. We’re honoured to be recognized as a 2023 Best Workplaces in Ontario by Great Place to Work® Canada. Care Days available for self-care or care of others (i.e., family or others you may support) and Sick Days to support your well-being. The opportunity to move along a variety of career paths with amazing networking potential.

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