Senior Third Party Risk Specialist

at  TD Bank

CRITICAL EXPERIENCES:

• Knowledge of Contracts, Vendor Management or Procurement, along with associated processes
• Experience in a 2nd line function with accountability for oversight of a business
• Ability to act independently, with awareness of when to escalate for support
• Strategic and Operational awareness

THE SENIOR THIRD PARTY RISK SPECIALIST IS A CORE ROLE WITHIN THE THIRD PARTY RISK MANAGEMENT ORGANIZATION. THIS ROLE WILL FACE OFF AGAINST A SPECIFIC SET OF BUSINESSES AND/OR CORPORATE SEGMENTS, AND INTERACT WITH THE VARIOUS STAKEHOLDERS, INCLUDING SEGMENT ENTERPRISE AND OPERATIONAL RISK MANAGEMENT AND LINE OF BUSINESS GOVERNANCE & CONTROL FUNCTIONS, TO SUPPORT AND CHALLENGE THE RISK OWNERS IN THEIR UNDERSTANDING AND MITIGATION STRATEGIES FOR THE RISKS OF ASSOCIATED WITH THEIR THIRD PARTY ARRANGEMENTS. THIS IS A NEW TO BANK ROLE, AND IN ADDITION TO THE ACCOUNTABILITIES OUTLINED BELOW, THE SUCCESSFUL CANDIDATE WILL BE ACCOUNTABLE FOR THE CREATION OF THE FRAMEWORK THAT WILL GOVERN HOW THE SENIOR THIRD PARTY RISK SPECIALIST WILL OPERATE GOING FORWARD.

• Manage an assigned business group of third parties and prepare portfolio wide and transaction specific analysis with recommendations. Maintain an understanding of business specific third party risks and provide suggestions for improvement or mitigation
• Adhere to enterprise TPRM frameworks or methodologies that relate to activities for our business area
• Ensure respective programs/policies/practices are well managed, meets business needs, complies with internal and external requirements, and aligns with business priorities
• Consistently exercise discretion in managing correspondence, information and all matters of confidentiality; escalate issues where appropriate
• Ensure business operations are in compliance with applicable internal and external requirements ( e.g. financial controls, segregation of duties, transaction approvals and physical control of assets)
• Participate in cross functional / enterprise / initiatives as a subject matter expert helping to identify risk / provide guidance for complex situations
• Conduct internal and external research projects; support the development/ delivery of presentations / communications to management or broader audience
• Conduct meaningful analysis at the functional or enterprise level using results to draw conclusions, make recommendations, assess the effectiveness of programs/ policies/ practices
• Monitor service, productivity and assess efficiency levels within own function and implement continuous process / performance improvements where opportunities exists
• Lead / facilitate and/or implement actions / remediation plans to address performance / risk /governance issues
• Actively manage relationships within and across various business lines, corporate and/or oversight functions and ensure alignment with enterprise and/or regulatory requirements
• Keep abreast of emerging issues, trends, and evolving regulatory requirements and assess potential impacts
• Maintain a culture of risk management and control, supported by effective processes in alignment with risk appetite
• Coordinate with risk stakeholder to establish complete view of all gaps between contract or 3rd Party Controls
• Coordinate with 2nd line partners to assess the appropriateness of proposed mitigants to both contract and control shortfalls, and/or proposed remediation plan
• Support the identification of Critical and Business Significant third party arrangements
• Act as the TPRM liaison for business during material events impacting the business lines supply chain