Third-Party Risk Management Specialist

Third-Party Risk Management Specialist

121562

The Opportunity

Are you looking for a caring, collaborative, values-driven workplace with inspiring teammates and leaders? Do you have the ambition and desire to be the best and thrive at the most impactful global insurance provider in the world? Look no further than Zurich Canada.

If you have experience working with Third-Party Risk Management and are looking for a new challenge, we would love to hear from you.

Zurich Canada is currently looking for a Third-Party Risk Management Specialist, and in this position, you will be instrumental in ensuring that we take an effective risk-based approach to contracting and managing third parties. You will advise business and functional leadership on key risks and mitigating actions in our third-party landscape and ensure that our third-party risk management practices and behaviors live up to the standards set by the Zurich Risk Policy and Canadian regulatory requirements.

Reporting to the Head of Operations Management, you will work closely with contract owners in Canada to enhance their understanding regarding their responsibilities while promoting a strong risk management culture, advancing the maturity of third-party risk management in the organization. In this role, you will collaborate closely with teams from business resilience, IT security, privacy, as well as procurement to ensure that functional leaders and contract owners are effectively supported in managing their third-party risks and have oversight of the operational execution of third-party management.

This is a unique opportunity to build your knowledge and experience for the future in a supportive environment where your voice matters.

This is a hybrid role.

What you will do -

1. Evaluate the framework for Third-Party Risk Management in alignment with Zurich's Risk Policy and applicable Canadian regulatory requirements and recommend/implement improvements to the framework or supporting processes, ensuring a risk-based approach is being taken.
2. Ensure the framework can adapt to broadening scope and risk management expectations over time.
3. Provide guidance and training to contract owners on best practices for third-party risk management, enhancing their maturity and understanding of compliance responsibilities.
4. Assist contract owners in identifying, assessing, and managing risks associated with third-party relationships.
5. Ensure that contract owners are effectively managing their third-party vendors and service providers in accordance with regulatory requirements and Zurich’s policies, including the governance of intra-group arrangements.
6. Conduct regular reviews and assessments to evaluate compliance and risk management practices among contract owners and their third parties.
7. Foster a culture of risk awareness and accountability across the organization, promoting the importance of effective third-party risk management.
8. Maintain a comprehensive inventory of third parties and their compliance status.
9. Prepare and present reports on third-party risk management activities, compliance findings, and recommendations to senior management and stakeholders.
10. Stay informed of changes in regulations and industry standards related to third-party risk management and ensure timely updates to policies and procedures.
11. Collaborate with functional partners in the Region and within the Group in the domains of Procurement, Data Privacy, Business Resilience, Risk and Compliance.
12. Support in other strategic projects or priorities as defined.

What you bring to the table-

Job Qualifications

Required:

1. Bachelors Degree and 5 or more years of experience in Business Administration, Risk Management, or a related field.
2. OR
3. High School Diploma or Equivalent and 7 or more years of experience in Business Administration, Risk Management, or a related field.
4. OR
5. Zurich Certified Insurance Apprentice, including an Associate Degree and 5 or more years of experience in Business Administration, Risk Management, or a related field.

AND

1. Minimum of 5 years of experience in risk management, compliance, or related roles, with a focus on third-party management.
2. Strong understanding of risk management frameworks, regulatory requirements, and industry best practices applicable to Canada.
3. Excellent analytical and problem-solving skills, with the ability to assess complex risk scenarios and develop actionable, risk-based solutions.
4. Strong communication and interpersonal skills, with the ability to build relationships and collaborate effectively with diverse stakeholders.
5. Strong background with evidence of producing measurable results and successful outcomes.
6. Proven ability to influence and drive change within an organization.
7. Excellent organizational skills are essential for this role, and prior project management experience will be a plus.
8. Professional certifications in Third Party Governance, Risk Management, or Procurement are an advantage (e.g., Certified Third Party Risk Professional, Certified Risk Manager, Chartered Risk Analyst, Certified Procurement Professional Information Systems Auditor).
9. Experience within or exposure to Procurement processes are an asset.

Preferred:

1. Insurance industry knowledge with subject matter expertise in at least one functional insurance discipline; such as Underwriting, Claims, Risk, Engineering.

Our Culture

At Zurich, we are proud of our culture. We are passionate about Diversity, Inclusion, Equity and Belonging (DIEB). We want you to bring your whole self to work, and we want our employees to be reflective of the communities in which we live and work. Our DIEB initiatives are creating an environment where everyone feels welcome.

We have a collaborative culture where diversity of thought is valued. We value your input and strive to give our employees the tools they need to make an impact.

We care about our employees’ well-being and offer a comprehensive health/benefits plan with varying levels of coverage to suit your specific needs and a competitive total compensation package.

We understand how important it is to rest, recharge and do the things you love. At Zurich, all employees receive a minimum of four weeks of vacation per year to do just that.

We also understand that employees require time off for personal reasons. Maybe you have an appointment during a workday, a cultural or religious holiday you would like to observe, or you need time off to focus on your mental health. Zurich employees receive four personal days per year to be used at their discretion.

We are committed to continuous improvement and offer access to a comprehensive range of training and development opportunities.

We care about our communities. Our communities are where our customers, people, and shareholders live and work. While we can be proud of the contribution to society Zurich makes through our core business of insurance, we must also give back to our communities through our talent, time, and resources.

We have won numerous awards for our workplace culture. We are proud to be one of Greater Toronto’s Top Employers and to have received Insurance Business Canada’s 5-Star Diversity, Equity, and Inclusion Award.

Make a difference. Be challenged. Be inspired. Be supported. Love what you do. Work for us.

About Us

Zurich Canada is part of the Zurich Insurance Group, a multi-line insurer with approximately 55,000 employees worldwide serving customers in global and local markets. Zurich Canada has been a leading insurance provider serving mid-sized and large companies, including multinational corporations, in the Canadian commercial market for 100 years. With over 500 employees in offices across the country, Zurich offers the global strength of a top insurance provider combined with in-depth knowledge of industries and local markets. Zurich Canada aspires to be risk management professionals’ first choice as their premier partner to help meet the risk challenges of today and tomorrow. Read more at www.zurichcanada.com.

A future with Zurich

Now is the time to move forward and make a difference. At Zurich, we want you to share your unique perspectives, experiences and ideas so we can grow and drive sustainable change together. As part of a leading global organization, Zurich North America has over 148 years of experience managing risk and supporting resilience. We are a leading provider of commercial property-casualty insurance solutions and a wide range of risk management products and services for businesses and individuals. Today, we serve more than 25 industries, from agriculture to technology and insure 90% of the Fortune 500. Our growth strategy is not limited to our business. As an employer, Zurich strives to provide ongoing career development opportunities and foster an environment where voices are diverse, behaviors are inclusive, actions drive equity, and our people feel a sense of belonging. Be a part of the next evolution of the insurance industry. Join us in building a brighter future for our people, our customers and the communities we serve.

As a global company, Zurich recognizes the diversity of our workforce as an asset. We recruit talented people from a variety of backgrounds with unique perspectives that are truly welcome here. Taken together, diversity and inclusion bring us closer to our common goal: exceeding our customers’ expectations. Zurich is committed to providing a diverse, inclusive and barrier-free environment resulting in an accessible organization for employees, customers, and other parties who interact with, or on behalf of, Zurich. We strive to achieve a workplace free of discrimination of all forms, including discrimination on the basis of physical or mental disability, or medical condition. If you are interested in a job opportunity, please advise if you require an accommodation, so we can work with you to provide a more accessible process.

Zurich does not accept unsolicited resumes from search firms or employment agencies. Any unsolicited resume will become the property of Zurich Canadian Holdings Limited. If you are a preferred vendor, please use our Recruiting Agency Portal for resume submission.