Director of Third Party Risk Management

About the role

The Director of Third-Party Risk Management is responsible for the overall leadership and effectiveness of the Company’s Third-Party Risk Management Program. This role oversees the end-to-end third party and contract lifecycle, ensures compliance with regulatory expectations and Company policy, leads enterprise third party risk governance activities, and partners across business units to identify, assess, monitor, and mitigate third party risk while balancing business objectives and operational needs.

Responsibilities

• Ensure the Third-Party Risk Management Program operates effectively and remains aligned with regulatory expectations, industry standards, and Company policies.
• Oversee the identification, assessment, monitoring, and mitigation of risks associated with third party relationships throughout their lifecycle.
• Maintain a consistent and effective risk-based contract management framework that supports risk-based review, negotiation, administration, and renewal processes.
• Provide meaningful governance, reporting, training, and communication to support organizational awareness and informed risk oversight.
• Drive continuous improvement of third-party risk management processes, systems, and stakeholder collaboration across the organization.
• Continuous professional education/development to remain up-to-date on applicable regulatory expectations and best practices in the TPRM field.

Qualifications

• Third Party Risk Program Leadership: Direct, oversee, and coordinate the Company’s third-party risk management program. Lead the Third-Party Risk Management Committee and support enterprise-wide governance activities. Create policies, procedures, and program practices which align with evolving regulatory guidance and industry expectations.
• Third Party Lifecycle Oversight: Oversee onboarding, due diligence, risk assessment, ongoing monitoring, issue management, and offboarding activities for third parties. Manage cross-functional risk review workflows across applicable disciplines and stakeholders. Manage annual risk assessments and ongoing due diligence requirements.
• Stakeholder Collaboration & Training: Partner with relationship managers, business units, Procurement, Accounts Payable, and other stakeholders to support effective third-party oversight. Deliver communication, awareness, and training programs related to third party and contract management requirements. Manage information sharing and coordination among risk owners and business partners.
• Risk Reporting & Continuous Improvement: Prepare and present risk reports