Associate Director, Third Party Risk Practices

Job Summary

The GRM Third Party Risk (TPR) team is accountable for RBC’s enterprise-wide Third Party Risk management (TPRM) strategy and framework, enabling RBC to identify, measure, monitor, and mitigate the risks associated with third parties. TPR works with Senior Management across RBC’s business platforms and functions, providing oversight and challenge to ensure effective implementation of TPRM practices in compliance with regulatory and policy requirements. TPR also provides strategic advice, education, and key practices across RBC. TPR is also accountable to provide insight on RBC’s overall third-party risk profile.
Job Description

What is your opportunity?

The Associate Director, TPR Practices is responsible for developing/maintaining strong RBC risk management practices to effectively and efficiently manage risks arising from Third Parties, in line with regulatory requirements, best practices and data insights - including end-to-end Enterprise Third Party Risk process, tools, applications, and external and internal data sources. The Associate Director is responsible for:

Translate strategic initiatives into tactical execution from a practice management perspective, including development of roadmaps, project plans, gap assessments, data driven solutions, stakeholder impact and timelines.

Design and/or update third party risk processes and practices, and related system-enabled requirements, in line with the TPRM Policy/Standards, strategic priorities, regulatory requirements.

Ensure Third Party Risk practices are deployed consistently across the enterprise, to enable alignment to RBC’s third-party risk appetite and compliance to the TPR Policy.

What will you do?

Enable evolution of Enterprise TPRM Process and Practices

Design, build, deploy and maintain RBC’s enterprise third-party risk process and practices across the third party risk lifecycle.

Assess and strengthen third party risk methodologies, including criticality, inherent risk and residual risk across risk domains, in alignment with regulatory requirements and industry practices.

Support updates to third-party application and tools, including development of change requirements, working in close partnership with the Operation Risk Shared Services (ORSS) team.

Develop and lead projects related to changes of practices in line with TPR objectives, ensuring monitoring, timely execution and reporting at the executive level.

Grow RBC’s risk intelligence practices to ensure that TPR capitalizes on all external and internal data assets, driving proactive and responsive risk management.

Be aware/knowledgeable of Third Party Risk regulatory requirements, regulatory trends and industry best practices.

Ensure alignment of Enterprise TPRM Process and Practices

Support the integration of business segments to RBC’s TPRM Program (including portfolio migration).

Ensure critical stakeholders and appropriate approval authorities are involved on changes to practices/processes; work with TPR Policy owner to ensure practices are well reflected in TPR Policy and standards.

Develop processes, operating procedures and guidance documentation, including templates, to enable consistent application of TPR practices.

Work in close partnership across broader 2LOD and 1LOD teams, ensuring stakeholder engagement and adoption during the development, review and implementation cycle.

Engage with TPR team members to ensure understanding of TPR practices and consistency across controls, providing support where required.

Monitor Practices for Sustainability and Continues Improvement

Collaborate with TPR peers to enable change management and provide oversight on the execution of key enterprise practices across 1LOD and 2LOD, e.g. critical supplier, issues management, etc.

Use internal data/indicators to assess or validate the effectiveness and efficiency of practices.

Establish lessons learned practices, incorporating data insights and stakeholders’ input, and incorporate findings into opportunities for future enhancements.

Act as a Leader in TPR and GRM OR

Demonstrate a collaborative work ethic and enterprise-wide mindset in the performance of duties.

Support a dedicated and high performing team, aligning with RBC’s vision and targeted behaviors that contribute to RBC goals.

Promote a strong culture of control awareness and risk mitigation.

Leverage the value in unit, department, and enterprise-wide teams to develop better solutions and achieve optimal enterprise-wide results.

Accept and successfully executive change while supporting colleagues through the process, keeping focused on business priorities.

What do you need to succeed?

7+ years of experience in progressively responsible roles in the financial services industry with direct exposure to operational risk management, third party risk, or supplier management.

Direct experience in delivering risk management change initiatives related to third party risk, cyber risk, artificial intelligence, privacy, business continuity, operational risk.

Know-how in workflow design, process design, and process re-engineering.

Story-teller with strong PowerPoint skills – can apply risk acumen and convey change initiatives, insights and solutions, and develop/deliver presentations at the executive level.

Established acumen in Governance-Risk-Compliance (GRC) through 1LOD or 2LOD roles.

Strong understanding of the third-party risk governance framework, practices, regulatory requirements.

Highly proactive, strong leadership to understand, develop and manage initiatives independently from end to end.

Organizational skills to effectively manage different workstreams in the context of large projects, and deliver against plans/deadlines.

Undergraduate degree required. Related post graduate degree or professional certification preferred.

Nice-to-Have

Previous experience in consulting roles or transformation initiatives.

Strategic and critical thinking mindset with attitude to simplification, efficiency, continuous improvement.

Demonstrated project management, organizational and communications skills.

MBA, Six Sigma, risk professional certifications.

What's in it for you?

A Total Rewards program that includes flexible benefits, work/life balance and career development programs and investment and retirement savings plans.

Competitive pay and high-earning potential.

All the tools, training, and team support you need to grow your business and career.

Flexible work/life balance options.

Sophisticated RBCI software tools to boost your productivity and grow your business.

Job Skills

Business Process Design, Business Requirements, Decision Making, Efficiency Optimization, Financial Risk Management (FRM), Governance Management, Industry Trends, Leadership, Microsoft PowerPoint, Operational Risks, Operation Risk Management, Organizational Leadership, Process Changes, Process Methodologies, Project Development, Remediation, Risk Control, Risk Management, Six Sigma, Teamwork, Third Party Risk Management
Additional Job Details

Address:

20 KING ST W:TORONTO
City:

TORONTO
Country:

Canada
Work hours/week:

37.5
Employment Type:

Full time
Platform:

GROUP RISK MANAGEMENT
Job Type:

Regular
Pay Type:

Salaried
Posted Date:

2025-05-01
Application Deadline:

2025-05-17
Note: Applications will be accepted until 11:5+ PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At 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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