The Vendor Risk & Compliance Supervisor is responsible for leading the Vendor Risk Management (VRM) team in the oversight of activities related to VRM and compliance. The VRM team reports up to the Sr. Manager of Governance, Risk & Compliance VW Credit, Inc. & VW Credit Canada, Inc. The VRM & Compliance Supervisor, along with their direct reports (the VRM Specialist and the VRM Compliance Specialist), will be developing the VRM framework, documenting, directing, implementing and overseeing the integration of effective end-to-end management and governance of vendor risk. The incumbent is responsible for providing independent oversight and developing the methodologies, policies, process, and tools to enhance the vendor risk management framework and support company business objectives while meeting stakeholder expectations; and create a structure to readily respond to risk, compliance and regulatory needs..
Development of VRM Framework & Guidelines: (45%)
- Develop framework and guidelines in accordance with VCI and/or regulatory standards and company policies.
- Review and update vendor risk management framework, ensuring the effective integration of industry best practices and regulatory changes impacting third party risk management and the ongoing alignment of the framework and related policies.
- Create/Assess policies and procedures to govern and manage vendor risks, and to effectively respond to new risk, compliance and regulatory needs.
- Continuously upgrade working knowledge of the business units’ operations and associated processes to assist in the continued enhancement and development of the framework.
- Develop, coordinate, and execute quality assurance and effective oversight processes.
- Execute risk-based engagement and monitoring consistent with vendor risk management framework and other relevant enterprise-wide policies.
- Maintain tools and methodologies relevant to third party inherent risk and residual risk profiles.
- Develop risk-based processes and methodologies in accordance with company policies, programs, standards, and expectations.
- Create and continuously improve various vendor risk management standards (i.e., third party incident monitoring templates, SLA monitoring guidelines).
Governance & Oversight: (20%)
- Produce robust governance and oversight reporting (for management, executive, and Vendor Risk Management Sub-committees) and work with the business units to establish key risk indicators to inform reporting on vendor risks. Work with Procurement on issues and escalations and to ensure that risk mitigation plans and strategies are effectively implemented.
Leadership, Relationship Management & Engagement: (20%)
- Collaborate and build strong relationships with the business units and other stakeholders as needed) to gain buy-in for various vendor risk management initiatives.
- Influence and provide leadership and guidance to the VRM team and work with the business units in translating vendor management requirements into practical considerations.
- Provide subject matter expertise as it relates to vendor risk management in cross functional discussions on compliance matters, integration, due diligence, and other regulatory requirements.
- Work with the, Legal, Compliance, Information Risk Management, Purchasing, and Internal Audit to ensure consideration of third party risk within their own risk domain framework.
Maintenance of Development Framework & Communication: (10%)
- Develop communications and training materials relative to vendor risk management framework, policies and processes to ensure effective implementation of existing and updated governing policies and processes.
- Assess resource requirements and determine a feasible approach to skill-mix working in conjunction with key stakeholder.
Special projects as required (5%)
7-10 – Overall Financial Services experience
- 3+ years – Vendor Risk Management and/or Enterprise Risk
- 2+ years – leading/supervising a team
- Certified Financial Analyst (CFA) or Certified Public Accountant (CPA)
- Other relevant professional designations.