Chief Third-Party Risk Specialist

About the RoleThe Third-Party Risk Management position plays a vital role in supporting the strategic development and implementation of the Bank's Third-Party Risk Management Framework. This framework is designed to ensure proactive management of overall Third Party Risk Management requirements, aligning with relevant regulatory requirements and best practices.Lead the design and deployment of a firm-wide TPRM framework, including an outsourcing governance framework.Manage the ongoing TPRM program, incorporating an integrated approach for assessing and mitigating the risk of new and existing third-party suppliers.Ensure risks associated with third-party relationships are sufficiently identified, assessed, monitored, and controlled before and after entering into contracts.Oversee the governance model, providing ongoing monitoring and oversight of the risks posed by third-parties.Monitor and update the third-party risk assessment framework to respond to new and existing regulatory guidelines and initiatives.Key ResponsibilitiesLead third-party risk segmentation, deploying and maintaining up-to-date annual attestations by contract owners.Develop reports for use by business areas and senior management regarding third-party risks.Identify and escalate key items of concern regarding new and existing current third-parties, including concentration risk and fourth-party risk exposures.Partner with sourcing partners, Operational Risk Team, Information Security and Technology Risk Team, Compliance, Legal, and other assurance functions in the second and third line of defense to identify third-party risks and escalate those risks appropriately.Support the Head of TPRM in addressing Central Bank, Internal Audit, and Compliance observations.Monitor Business Units' status of the RCSA, ORE, KRI, Issues & Actions, and NPPA programs.Maintain ongoing monitoring of the Bank's Operational Risk profile at a Business Unit level.Ensure compliance with regulatory requirements and foster an environment for continuous improvements.Provide user support and manage the Group operational risk program design on Prism, the Bank's Operational Risk Management Information System.Interactions and Working RelationshipsRegular interaction and working relationship with Heads of Segments, Divisions, Countries, Subsidiaries, and Affiliates.Heads of Second Line functions, including Fraud Prevention & Intelligence, Compliance, and Information Security.Senior Management of outsourced service providers of the Bank.Problem-Solving AbilitiesInfluence and challenge Business Units for effective Third Party Risk management.Assimilate emerging and leading practices and developments in the area of Third Party Risk Management.Undertake multi-dimensional assessments of operational risk data, derive risk-based analysis, and conclusions.Decision-Making Authority and ResponsibilityAuthority to approve/authorize Operational Losses in line with delegated authority.Able to escalate breaches to Operational Risk Management policy and framework to relevant stakeholders/Governance forums.Owner of the Operational Risk General Ledger.Authority to manage the cost centre of Operational Risk.Responsible for regulatory reporting and disclosures on Operational Risk.Required Skills and QualificationsMinimum 3-5 years of focused expertise in Third-party Risk Oversight, Vendor Governance, Risk Management, and Operational Risk.Proven related financial services experience, risk, and regulatory-related experience highly desired.Third-party vendor experience preferred.Broad and deep third-party risk technical knowledge.Strong people management, internal consulting, and partnering skills.Ability to influence with or without authority to achieve desired outcomes.Balance and successfully manage competing priorities.