Director, Third Party Risk Practices

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Director, Third Party Risk Practices

senior · Risk & Compliance

Job Description

What is the opportunity?

The Director, TPRM Practices is responsible to ensure that RBC’s end-to-end Enterprise Third Party Risk process, tools, applications, and external and internal data sources are consistently deployed across the enterprise, enabling alignment to RBC’s third-party risk appetite, and driving strong risk management practices consistent with the regulations that govern TPR globally.  

Key responsibilities include: 

• Designing, developing, and maintaining RBC’s enterprise third-party risk process and practices; product owner for RBC’s third-party application and tools;
• Evolving RBC’s TPRM operating / governance / engagement models and consistent practices within Third Party Risk and across other risk domains; and 
• Reflecting external factors (including emerging risks) and industry practices into RBC’s TPRM practices.

What will you do?

Act as a leader in Third-Party Risk (TPR) and broader Operational Risk.

• Delivers on the TPR vision and strategy, supporting program management activities in collaboration with the rest of the team.
• Fosters strong stakeholder relationships to enable active and collaborative working relationships.
• Drives a culture of integrity and behaviors that align to RBC’s Code of Conduct and professional standards.
• Support a dedicated and high performing team, aligning with RBC’s vision and targeted behaviors that contribute to RBC and Operational Risk goals.
• Works collaboratively across teams, enabling an engaged workforce who are effective, knowledgeable and adaptable.
• Cultivates an environment of continuous personal growth.

Lead the Enterprise TPR Process and Practices

• Design, build, deploy, and maintain RBC’s enterprise third-party risk process and practices across suppliers, intragroup arrangements and non-supplier third parties. 
• Provide clear direction and thought leadership to ensure RBC’s TPRM processes and practices enable global TPR regulations, policy compliance, and attainment of RBC’s stated risk appetite.
• Product owner for RBC’s third-party application and tools, working in close partnership with the Operation Risk Shared Services (ORSS) team to lead maintenance, updates across the change lifecycle and consistent adoption.
• Grow RBC’s risk intelligence practices to ensure that TPRM capitalizes on all external and internal data assets, driving proactive and responsive risk management.
• Document, maintain inventory and oversee execution of program practices and controls, ensure those are evaluated/tested for effectiveness and continued improvement.
• Engage with other Centres of Governance who support specific RBC’s TPRM practices, ensuring appropriate alignment with supporting requirements/expectations.
• Bring an external view and practices into RBC’s TPRM practices; connect with industry peers to develop insights into leading third-party risk and control practices, bring awareness on risk trends and applicability of TPRM program.
• Support audit and regulatory reviews and remediation, in relationship with the TPRM program

Champion RBC’s TPRM Change Management and Integration

• Lead enterprise-wide adoption of the TPRM program in a consistent manner, including providing advice, training and additional supporting resources as required.
• Lead change management across the program initiatives and updates, in close partnership with GRM TPR directors, ORSS and Centres of Governance.
• Manage Change Forum and participate in other TPR forums and risk driven forums that strengthen third party risk management.
• Work in close partnerships across broader 2LOD teams – including centres of governance – and 1LOD teams – including Supplier Management Offices and Procurement – ensuring proper stakeholder engagement; manage TPRM Risk Domain Forum and attend to other forums, e.g., AI, Digital Assets, SaaS, etc.
• Support ongoing reporting of progress on TPRM’s strategic priorities and related initiatives to senior management and RBC’s risk related committees.
• Engage with TPR team members to (i) ensure understanding of and consistency across TPR practices, providing advice and support where required, (ii) act as a liaison across the team to foster cohesiveness, collaboration, and participation.
• Lead integration of TPRM practices across Operational Risk practices and alignment with 2LOD risk domain programs, including Business Continuity, Cyber and Technology Risk, and Operational Resilience.

What do you need to succeed?

Must-have

• 10+ 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
• Advanced quantitative, analytical and problem solving skills
• Strong understanding of the third-party risk governance framework and practices
• Direct or indirect team leadership experience preferred
• Good knowledge of global TPR regulatory requirements/best practices
• Strong leadership and people management skills

Nice-to-have:

• Six Sigma certification; Professional Risk Management qualification or certification

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits

• Leaders who support your development through coaching and managing opportunities

• Ability to make a difference and lasting impact

• Work in an agile, collaborative, progressive, and high-performing team

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Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.