Director, Third Party Risk Practices

Job Description
What is the opportunity?

The Director, TPRM Practices is responsible to ensure that RBC’s end-to-end Enterprise Third Party Risk process, tools, applications, and external and internal data sources are consistently deployed across the enterprise, enabling alignment to RBC’s third-party risk appetite, and driving strong risk management practices consistent with the regulations that govern TPR globally.

• Designing, developing, and maintaining RBC’s enterprise third-party risk process and practices; product owner for RBC’s third-party application and tools;
• Evolving RBC’s TPRM operating / governance / engagement models and consistent practices within Third Party Risk and across other risk domains; and
• Reflecting external factors (including emerging risks) and industry practices into RBC’s TPRM practices.

• Act as a leader in Third-Party Risk (TPR) and broader Operational Risk.
• Delivers on the TPR vision and strategy, supporting program management activities in collaboration with the rest of the team.
• Fosters strong stakeholder relationships to enable active and collaborative working relationships.
• Drives a culture of integrity and behaviors that align to RBC’s Code of Conduct and professional standards.
• Support a dedicated and high performing team, aligning with RBC’s vision and targeted behaviors that contribute to RBC and Operational Risk goals.
• Works collaboratively across teams, enabling an engaged workforce who are effective, knowledgeable and adaptable.
• Cultivates an environment of continuous personal growth.

Design, build, deploy, and maintain RBC’s enterprise third-party risk process and practices across suppliers, intragroup arrangements and non-supplier third parties.

Product owner for RBC’s third-party application and tools, working in close partnership with the Operation Risk Shared Services (ORSS) team to lead maintenance, updates across the change lifecycle and consistent adoption.

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

Document, maintain inventory and oversee execution of program practices and controls, ensure those are evaluated/tested for effectiveness and continued improvement.

Engage with other Centres of Governance who support specific RBC’s TPRM practices, ensuring appropriate alignment with supporting requirements/expectations.

Bring an external view and practices into RBC’s TPRM practices; connect with industry peers to develop insights into leading third-party risk and control practices, bring awareness on risk trends and applicability of TPRM program.

Support audit and regulatory reviews and remediation, in relationship with the TPRM program.

Lead enterprise-wide adoption of the TPRM program in a consistent manner, including providing advice, training and additional supporting resources as required.

Lead change management across the program initiatives and updates, in close partnership with GRM TPR directors, ORSS and Centres of Governance.

Manage Change Forum and participate in other TPR forums and risk driven forums that strengthen third party risk management.

Work in close partnerships across broader 2

LOD teams – including centres of governance – and 1

LOD teams – including Supplier Management Offices and Procurement – ensuring proper stakeholder engagement; manage TPRM Risk Domain Forum and attend to other forums, e.g., AI, Digital Assets, SaaS, etc.

Support ongoing reporting of progress on TPRM’s strategic priorities and related initiatives to senior management and RBC’s risk related committees.

Engage with TPR team members to (i) ensure understanding of and consistency across TPR practices, providing advice and support where required, (ii) act as a liaison across the team to foster cohesiveness, collaboration, and participation.

Lead integration of TPRM practices across Operational Risk practices and alignment with 2

LOD risk domain programs, including Business Continuity, Cyber and Technology Risk, and…