Third Party Vendor Risk
Third Party Vendor Risk
Posted on :
27-10-2024
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Job Description
DEPARTMENT RESPONSIBILITIES: ThirdParty / Vendor Risk Management (VRM) is responsible for overseeing the ICBC Financial Services ThirdParty / Vendor Risk Management program. VRM is a structured and independent function that helps the organization identify assess and manage risks associated with thirdparty vendors. VRM aims to prepare for and control thirdparty risks while also preventing disruptions to business performance. The function is also responsible for leading risk assessments of vendors and associated services including due diligence and documentation. ROLE
RESPONSIBILITIES:
Ability to manage an inventory of vendors and associated services.
Facilitate onboarding of new vendors and conduct reviews of existing vendors.
Facilitate review and challenge vendor risk assessments conducted by business and functional areas.
Provide Monthly and Quarterly Risk Management reporting and Vendor Risk Management metrics Assist Firm by supporting and providing oversight to the first line of defense through various operational risk and thirdparty / vendor risk programs.
Responsible for understanding and assessing business and functional operations regarding Third
Party / Vendor Risk identifying issues opportunities and collaboration to discover appropriate solutions.
Ensure effective implementation operational risk and thirdparty / vendor risk management programs to identify measure monitor manage and report risks.
Assist in identifying and evaluating risk areas across the Firms operational activities and the development of processes and controls to mitigate such risks.
Maintain develop and prepare documentation for risk management; including risk policies procedures and reporting.
Investigate root causes of operational risks and provide support to mitigate risk.
Conduct training on thirdparty risk management programs and policies.
Provide regular management reporting and status updates on ThirdParty / Vendor Risk programs. Assist Legal department with Contract Management.
Employment Type
Full Time
Key Skills
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