Our Client works with an extensive network of third party organizations to perform a vast range of activities across the enterprise. Known internal risks that may impact our client such as privacy, information security, compliance, pricing, IT, etc. are amplified or compounded with the use of third parties. Today, third party oversight is decentralized. There are many functions working with third parties in some capacity including, but not limited to: Procurement, Third Party Management Organizations (TPMOs), Risk Domain Partners including Audit/Assessment Teams.
The TPRM organization is implementing a holistic program to support consistent, efficient, and effective decision making and determining potential inherent risk. The central team’s scope encompasses priority business and risk areas across all stages of the third party collaboration lifecycle.
Successful execution of this strategy will reduce third party risk, strengthen capabilities, drive consistency and efficiency, and reduce cost.
The scope of the TPRM Hub Team will include the following:
Create and maintain policies, procedures, and training to drive consistent TPRM for third party use. Liaise with Risk Domain Partners to create and maintain: Risk Definitions, Tolerances, and Required Training for TPMOs, Engagement Owners, and Third Parties. Construct and own the overall TPRM Program. Own the enterprise TPRM technology solution. Provide oversight of the TPRM initial and on-going monitoring due diligence processes. Report progress and results to Senior Leadership including, but not limited to, the CPO, the SVP of Ethics & Compliance, and the Compliance & Enterprise Risk Management Committee (CERMC).
The TPMO serves as first line of defence support responsible for using their risk management expertise coupled with business insights to enable Engagement Owners (EOs), Relationship Owners (ROs) and Functional Owners (FOs) to effectively manage third parties and associated engagements in accordance with TPRM Program guidance.
· Assist in the completion of IRQ’s (Inherent Risk Questionnaires) as required
· Review intake form / IRQs of third party engagements and provide feedback or challenge as appropriate
· Establish and maintain strong working relationships with RO/FO/EOs and relevant functional stakeholders
· Assist in supplier qualification process for contracting
· Coordinate, in conjunction with Risk Domain Partners, due diligence and ongoing monitoring activities
· Provide onboarding support of EOs including training
· Support EOs with ongoing operational oversight and finding management actions
· Review findings and partner with engagement owner to track and close
· Consult with engagement owners on mitigation approach
· Review residual risk determination
· Act as consult to RO/FO/EOs to establish third party performance indicators and governance
· Assist with remediation of underperformance or operation findings on request
· Develop and document third party specific exit strategy
· Support EO in executing termination and off-boarding activities
· Provide platform / mechanism for third parties to provide feedback on experience with us
· Provide knowledge management platform / mechanism to disseminate previous EO experiences with third parties to inform future outsourcing decisions
· Provide functional governance through TPMO Council leadership
· Participate in TPRM Steer Committee and Operations committee as required
· Lead third party inventory management for respective business units
· Drive business operations reporting and dashboards to allow for oversight and enhanced decision making
· Partner with Procurement to inform sourcing strategy for business unit
· Partner closely with the TPRM Hub to evolve and expand the comapny’s third party management capabilities
· Improve operational efficiency and optimize value by driving synergies across the third party base
· Act as an escalation point / TPRM communications touchpoint for Relationship, Functional and Engagement Owners
3+ years Third party management experience
Familiar with Aravo or similar Third Party Risk Management technology
Experience in a fast paced working environment
Strong technical and data analytical skills
Proven ability to frame clear choices and achieve quick wins
Proven experience influencing constituents without formal authority to adopt improvements, changes to status quo
Proven track record delivering outstanding results in challenging business environments
Strong communication and influence skills
Possesses strong business acumen (understanding how our industry operates, our value chain, our customers, industry dynamics, other)
Resourcefulness in knowing where to find experts; having an awareness of how things get done
Demonstrates credibility and engenders trust by bringing objectivity to all situations
Able to work effectively at all levels of the organization with a full range of styles
Our Client does not discriminate on the basis of age, race, color, religion, gender, sexual orientation, gender identity, gender expression, national origin, protected veteran status, disability or any other legally protected status.
Job Types: Full-time, Permanent