Senior Director, Enterprise Third Party Risk

Key Duties & Responsibilities

• Leadership responsibility for coordinating all aspects of a central enterprise risk management program and team, ensuring that the end-to-end (E2E) third party risk management processes are implemented and sustained, team members are fulfilling their roles and responsibilities, and reports are consistent with Corporate and risk policies
• Oversee supplier criticality assessments for all suppliers using a unified and holistic approach deployed along the supplier life cycle, and leverage the criticality dimensions for fit for purpose risk process prioritization
• Oversee third party risk assessment and regular updates for critical suppliers along the supplier life cycle leveraging a central risk tool, working with business leads to provide required inputs and ensuring other metrics are automated and updated
• Maintain centralized supplier risk repository for visibility to third party risks and action plans, timelines and ownership, including creating regular reports on multi-dimensional supplier risk with the CRM team
• Maintain and regularly update risk appetite matrix and list of risk mitigation actions, syndicating with and eliciting input from business leads as needed
• Cook up and support preparation of, and participate in joint reviews of mitigation actions, working with business leads and risk SMEs and escalating when necessary
• Ensure E2E process is supported by appropriate tools and technology solutions in partnership with DTE, including standing up a centralized supplier risk register and automating risk assessment and tracking activities
• Cook up, support preparation of, and participate in escalation governance committees (i.e., cross-functional governance meetings, executive level governance meetings)
• Manage and lead within a matrix of dedicated and assigned resources across a hybrid centralized and federated risk management operating model
• Work with HR and Communications team to coordinate and launch training and communications plan for ongoing process awareness across the enterprise
• Cook with Executive leaders, function leads, and business leads to role model new processes
• Partner with strategic sourcing and business owners to ensure understanding of supplier landscape existing and future potential and integrate into the third-party risk management strategy to drive enterprise risk visibility and actions to manage risks through actions focus on immediate mitigations, mitigation plans with future timelines, and risk acceptance strategies

Required Education

University degree in Accounting, Finance or Risk Management

Certified professional certifications are preferred

Required Experience

12+ years’ experience in the area of risk is required

Experience within a large multinational, publicly held company is highly preferred

Required Knowledge And Skills

• Strong knowledge of risk management policies and procedures, preferably related to third parties
• Excellent verbal and written communication skills; ability to effectively communicate with senior leadership team and third parties
• Superior business and analytical skills, ability to focus on key issues and solve problems, bring an enterprise mindset, and effectively track and create visibility and report on risk processes and outcomes
• Able to work in a collaborative, team environment; ability to cultivate and maintain effective business partner relationships through earned respect and trust; collaboration extends beyond Business Partners and suppliers to include other functional areas with risk SMEs and business owners
• Adept at influencing and bringing new ideas and information that create tangible value to business
• Strong process management and demonstrated use of Continuous Improvement mindset and tools (including Pareto Charts, Flow Diagrams, etc.) to drive process improvements
• Strong project management and organizational skills. Able to create detailed project plans, including an understanding of dependencies as well as critical path elements for larger, more involved projects
• Track record of successful execution of complex, cross-functional initiatives
• Able to establish and maintain effective business partner relationships at highest levels within the organization; gained their respect and trust; Thoughtful and active listener; able to think quickly and effectively articulate points of view
• Able to establish and lead an effective governance program that continues to elevate third party risk management and oversight for the company