AVP, Third Party Risk Management

AVP, Third Party Risk Management

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Locations: Toronto, Ontario; Waterloo, Ontario

Time Type: Full Time

Posted On: Posted 3 Days Ago

Job Requisition ID: JR00103575

You are as unique as your background, experience, and point of view. Here, you’ll be encouraged, empowered, and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do. Discover how you can make a difference in the lives of individuals, families, and communities around the world.

Job Description:

About the Role

Reporting to the Vice President, Corporate Operational Risk Management and Risk Initiatives, the AVP, Third Party Risk Management (TPRM), is accountable for the oversight of the third-party risk management policy requirements and underlying programs to support third-party risk management across the enterprise. The AVP will maintain the Third-Party Risk Management (TPRM) program leading continuous improvement of the methodology, including enhancements to tools. This dynamic role is accountable to support the enterprise-wide Third-Party Risk Management program through transformation initiatives, driving innovation, and strengthening program governance, effectiveness, and efficiency.

What You'll Be Doing

• Lead the maintenance and ongoing enhancement of the Third-Party Risk Management Program (TPRM) including updates to TPRM Policy and Enterprise Operating Guideline (EOG) and strategy, roadmap, tools, and budget.
• Lead the review and oversight alignment of third-party risk governance documents established by Sun Life subsidiaries and joint ventures.
• Lead the development, maintenance, communication, and oversight of SL’s third-party risk appetite statements.
• Provide second line oversight and challenge as Policy Contact Third Party Risk Management Framework including maintaining oversight and challenge of enterprise-level TPRM KRIs and KPIs, analysis of TPRM related OREs, RCSA issues, policy non-compliance.
• Manage a team that works closely with Business Group Risk Office members and 1st line operational risk personnel in the assessment of risks and effective roll-out of program changes.
• Oversee the quarterly and annual TPRM reporting presented to senior management and the Risk Committee.
• Development, maintenance, and communication of TPRM Program strategy and roadmap.
• Development, maintenance, and implementation of various tools meant to identify, measure, manage, monitor, and report on Third-Party risks.
• Provide advice into strategic decisions and program improvements related to the Third-party Risk Management program.
• Provide oversight of Sun Life’s implementation of various third-party risk management program elements.
• Establish, maintain, and continually enhance the oversight and monitoring frameworks with respect to the TPRM program.
• Leverage business and industry acumen and assess complex third-party risk issues to guide solution recommendations and mitigate third-party risk.
• Design and implement solutions to remain aligned with regulatory requirements.
• Monitor and benchmark Sun Life third-party risk practices against industry standards and best practices.
• Respond to OSFI and other regulators on TPRM requests.
• Maintain TPRM system (ServiceNow).

What You'll Need to Succeed

• Bachelor’s degree in Business, Management, Finance, Engineering, or a relevant field.
• Professional designation and/or graduate degree.
• Over 12 years’ experience in the Financial Services industry, preferably in risk management.
• Technical third-party risk management knowledge required.
• Experience implementing and maintaining a Third-Party Risk Management system.
• Excellent analytical skills and attention to detail.
• Direct third-party risk management experience within a major Federally Regulated Financial Institution, preferably in a methodology and/or reporting function.
• Strong writing skills and direct experience writing policies and guidelines.
• Understanding of products, practices, and third-party risks.
• Effective communication, negotiation, and conflict management skills.
• Effective change management, through impact and influence skills.
• Effective leadership skills.

What's in it for You

• Being a member of the Sun Life family, a group of people united by our Purpose: to help Clients and Employees achieve lifetime financial security and live healthier lives.
• In 2024, Sun Life ranked among the top 100 most sustainable global corporations by Corporate Knights for the 15th consecutive year, leading Canadian insurers.
• We are proud to be on the 2024 Best Workplaces in Canada list by Great Place to Work.
• We’re also listed as one of the Best Workplaces for Women and Best Workplaces with Most Trusted Executive Teams.
• Our unique Sabbatical Program gives you the opportunity to take up to 6 weeks off, every five years.
• Care Days available for self-care or care of others (i.e., family or others you may support) and Sick Days to support your well-being.

The Base Pay range is for the primary location for which the job is posted. It may vary depending on the work location of the successful candidate or other factors. In addition to Base Pay, eligible Sun Life employees participate in various incentive plans, payment under which is discretionary and subject to individual and company performance. Certain sales-focused roles have sales incentive plans based on individual or group sales results.

Diversity and inclusion have always been at the core of our values at Sun Life. A diverse workforce with wide perspectives and creative ideas benefits our clients, the communities where we operate, and all of us as colleagues. We welcome applications from qualified individuals from all backgrounds.

Persons with disabilities who need accommodation in the application process or those needing job postings in an alternative format may e-mail a request to thebrightside@sunlife.com.

At Sun Life we strive to create a flexible work environment where our employees are empowered to do their best work. Several flexible work options are available and can be discussed throughout the selection process depending on the role requirements and individual needs.

We thank all applicants for showing an interest in this position. Only those selected for an interview will be contacted.

Salary Range: 135,000 - 220,000

Job Category: Risk Management

Posting End Date: 28/11/2024