Senior Consultant, Ongoing Monitoring, Alerts & Triggers - Third Party Risk Management

About the role

NT’s Chief Procurement Officer’s team for Third Party Management (TPMO) is responsible for the design and execution of the Third Party risk management program. This role will report to one of several team managers within TPMO, which is the 1st line of defense for third party risk.

Responsibilities

• Track program throughput through the various third party management life cycle elements (Planning, IRQs, DDQs, Ongoing Monitoring, Contracting and Termination)
• Periodic inventory review, open issues and open risk acceptance review and tracking of all internal projects
• Design and periodically review program related artifacts, risk methodologies, service categories and associated risk profile, reporting thresholds etc.
• Assist and guide business partners through various stages of third party lifecycle to ensure quality program execution
• Identify gaps and drive continuous improvement across the TPRM lifecycle (e.g., onboarding, due diligence, monitoring, offboarding)
• Suggest and participate in improvement projects that automate or streamline repetitive tasks (e.g., through Coupa tools or workflow automation platforms)
• Maintain strong documentation and evidence of controls, risk decisions, and remediations
• Engage with risk domain SME’s, vendors and vendor relationship managers
• Use dashboards and key risk indicators (KRIs) to monitor third-party risk posture and performance and determine areas of focus
• Report progress to the board, risk committees, and regulators as needed
• Participate in cross-functional teams associated with Third Party program requirements in areas such as design & strategy, enterprise critical vendor management, and other SMEs related subjects

Requirements

• Proven track record managing vendor risk and/or leading large-scale risk or compliance initiatives
• Expertise in third-party risk frameworks and regulatory requirements
• Experience with tools such as Coupa, ServiceNow, Cybeta, Interos or similar
• Strong organizational skills
• Ability to influence activities across multiple teams and across business units
• Outstanding writing, communication, and presentation skills
• Sound analytical and problem-solving skills
• Strong networking ability to develop internal and external networks based on integrity and credibility through active listening and understanding

Qualifications

• Bachelor's degree
• Approximately 10 years of related work experience with clear understanding of and experience in the Three Lines of Defense model
• A thorough understanding of third-party (i.e., vendor, supplier, etc.) risk management, with prior experience in designing program solutions, risk scoring and aggregation methodologies and designing committee reporting
• Adequate understanding of global risk regulatory requirements with emphasis on US (OCC Bulletins, FFIEC, FRB, FDIC) or UK (PRA, FCA)
• A TPRM related certification such as CTPRP or CTPRA