Manager – Vendor Risk Management

What is the Opportunity?

The Manager Vendor Risk Management 1LoD role is responsible for vendor risk management routines for RBC Bank Third Party Suppliers and Intra-Group Arrangements (IGAs) throughout the supplier management lifecycle in accordance with the Third Party Risk Management Policy and Standards.  This role operates in RBC Bank’s first line of defense and supports Business Unit partners in managing third party risk through supplier onboarding activities, risk assessments, advice and counsel, and regular reporting. In addition, this role provides timely assessment and support of third party risk through proactive engagement with RBC Bank Business Units, Functional Partners, and Third Party Suppliers.  This role provides consultation and support during the Concept and Planning and Contract Negotiation phases, onboarding of new third party suppliers, ensuring completion of artifacts and risk assessment activities.  As well as reviews, tracks, and works with RBC Bank Business Units to address Service Level Agreement (SLA) performance; reviews and processes invoices for payment, etc.  This role collaborates with relevant groups in developing and implementing recommendations to improve efficiencies, reduce costs, enhance the client experience, and increase shareholder value.

What will you do?

Third Party Risk Management

• Responsible for third party risk management routines for a portfolio of RBC Bank Third Party Suppliers and Intra-Group Agreements (IGAs) throughout the supplier management lifecycle and ensure compliance to Enterprise Standards

• Facilitate completion of Supplier Risk Management Application (SRMA) records for Third Party Suppliers and IGAs

• Facilitate completion of Service Organization Control (SOC) reviews for Third Party Suppliers and gain approval from business unit partners

• Ensure Third Party Supplier Exit Strategies are documented in system of record, including Winding Down Plan and Repatriation Plan

• Ensure Third Party Suppliers have documented and tested Business Continuity Plans and Disaster Recovery Plans

• Drive awareness to third party risks through participation in third party supplier-led risk forums and other enterprise training and learning opportunities

• In partnership with business unit, act as communication point between Third Party Suppliers, business units, and functional partners to ensure necessary information for cross-functional teams are shared. 

• Provide escalation support between Third Party Suppliers, business units, and functional partners through to resolution as needed

• Key referral and expert point of reference to senior management on all matters relating to Third Party Risk Management/IGA due diligence. Understand and respond to implications and impacts of Third Party Supplier/process developments and changes to the business unit and client

• Facilitate discussions between Third Party Supplier, business units, and functional partners to ensure protocols are in place to provide third party suppliers with ongoing production, technology and operations support, ensuring processes, procedures and protocols are up-to-date

• This role will work closely with RBC Bank Finance, RBC Bank Service Recipients, and Service Providers for IGAs to ensure monitoring routines are in place as required

Contract Management

• Partner with business units to manage Third Party Supplier contracts in the portfolio throughout the supplier lifecycle (RFP to termination/renewal)

• Ensure that the contract contains Service Level Agreements (SLAs), Key Performance Indicators (KPIs), regulatory and any other operational elements that will be measured once the contract is implemented

• Provide support and consultation on primary contractual documents (MSA, SOW/Schedule, SLA, etc.)

• Ensure all RBC Bank contracts in the portfolio are uploaded and reflect accurate business unit ownership in the systems of record

• Assist in development of SLAs, KPIs

Performance and Financial Management

• Ensure proper monitoring of SLAs for all assigned Third Party Suppliers based on defined cadence which includes submission and validation of SLA reporting within required timeframes, and documents breaches as required

• Provide reporting to senior management on health of the portfolio including key risk indicators (KRIs) and control execution

• Work with the Third Party Suppliers, Business Units, and Functional Partners to identify, document and close any service gaps/performance levels

• Participate in/review results from periodic meetings with Third Party Supplier and RBC Bank Business Units

• Provide timely and accurate Third Party Risk Management reporting

• Ensure ongoing efficiencies are identified, brought forward, and realized

• In partnership with business unit, validate invoices/rebates/special instructions sent by Third Party Suppliers for accuracy and contract compliance, and submit for payment based on appropriate Delegated Authority

What do you need to succeed?

Must Have:

• 5-7 years’ experience in first- or second-line risk and control functions

• 3 years’ experience in third party supplier/vendor risk management

• Experience in implementing risk management practices in the financial services industry

• Knowledge of regulatory requirements and leading practices regarding third party supplier risk management

• Execution of policies and procedures and proficient in risk management methodologies

• Strategic mindset and effective collaboration skills

• Excellent interpersonal skills with a strong customer service focus

• Experience in identifying and implementing appropriate controls for effective risk mitigation

• Experience in defining and implementing effective management reporting

• Experience working in a complex, matrix environment, and proactively managing a diverse set of stakeholders

• University degree, or equivalent

Nice to have:

• Risk management professional certifications

• Experience using Archer, Tableau, other risk management tools

• Proficiency in MS Office (Word, Excel, PowerPoint, and Visio)

• Strong communication and presentation skills (written and verbal)

• Ability to adapt and quickly develop in-depth understanding of new/different initiatives

• Strong critical thinking skills, with the ability to independently recognize problems, propose solutions and execute on them

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable

• Leaders who support your development through coaching and managing opportunities

• Ability to make a difference and lasting impact

• Work in a dynamic, collaborative, progressive, and high-performing team

• Opportunities to do challenging work

• Opportunities to build close relationships with clients

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Job Skills

Business Process Design, Decision Making, Financial Risk Management (FRM), Operational Risks, Risk Control, Risk Management, Teamwork

Additional Job Details

8081 ARCO CORPORATE DRIVE:RALEIGHRaleighUnited States of America40Full timePERSONAL & COMMERCIAL BANKINGRegularSalaried2025-08-072025-10-27

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.