What are the responsibilities and job description for the Vendor Risk Management Manager position at Royal Bank of Canada?
Job Summary
Join our team as the Vendor Risk Management Manager, where you'll play a crucial role in overseeing supplier management routines for RBC Bank's suppliers, third parties, and Intra-group arrangements. You'll support the management of supplier risk throughout the entire supplier lifecycle in alignment with our Third Party Risk Management Standards and Policies.
Key Responsibilities :
- Lead supplier management activities within your portfolio of RBC Bank suppliers and third-party agreements.
- Facilitate the completion of Supplier Risk Management Assessments (SRMA) and Service Organization Control (SOC) reviews.
- Ensure robust exit strategies are in place, including Winding Down Plans and Repatriation Plans.
- Drive awareness of third-party risks and foster collaboration through supplier-led risk forums and training sessions.
- Manage escalations among suppliers, RBC Bank business units, and functional entities to ensure timely resolutions.
- Act as the primary communication point for all stakeholders, ensuring the delivery of necessary information across cross-functional teams.
- Provide expert consultation to senior management on supplier management and due diligence matters.
- Oversee contracts throughout the supplier lifecycle, ensuring SLAs, Key Performance Indicators, and regulatory compliance are effectively managed.
- Monitor SLAs monthly, including validation and documentation of breaches where necessary.
- Compile and report to senior management on the health of your portfolio, including key risk indicators and control execution.
- Collaborate closely with Suppliers, Business Units, and Functional Partners to identify and resolve any service performance gaps.
- Validate invoices and ensure contract compliance before submitting for payment as per the Delegated Authority.
Qualifications :
What We Offer :
Address : 8081 ARCO CORPORATE DRIVE, RALEIGH
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