Vendor Compliance Manager - (Hybrid)

Central 1 cooperatively empowers credit unions and other financial institutions to deliver banking choice to Canadians. Central 1 provides critical services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.

What we offer:

• Top-notch flexible benefits plan
• Day off to volunteer in your community and other paid time off options
• Retirement Plan, matched contributions at 6%
• Corporate discounts
• One time allowance to set up your office for remote first employees
• Generous annual vacation allotment
• Subject to employment agreement
• Variable annual incentive plan
• Access to a learning platform and educational assistance support
• Hybrid work environment
• Career development opportunities
• Work-life flexibility
• Wellness Flex Fund to support personal interest and activities

Job Summary:

As the Vendor Compliance Manager you will be responsible for assessing and monitoring risks associated with Central 1’s vendors and suppliers. You will also be responsible for developing and implementing a robust vendor risk and regulatory compliance program for the organization that includes maintaining vendor risk profiles, conducting ongoing monitoring activities, and providing regular updates to senior management. You will work closely with various business units to ensure that vendors are properly vetted, that appropriate risk mitigation strategies are in place and prepare materials for senior management and governance committees that are in line with regulatory requirements.

What you'll be doing:

• Partner with lines of business and support functions to identify, report and mitigate vendor risks and act as the subject matter expert in the operational risk framework and risks/processes/controls.
• Apply sound judgement and implement practices for effective vendor risk management and compliance activities in accordance with Central 1’s operational risk management framework.
• Collaborate with procurement and other business units to ensure vendor due diligence and risk management requirements are met.
• Develop and maintain vendor risk management policies and procedures
• Analyze vendor risk profiles and develop risk mitigation strategies
• Identify and escalate emerging risks to senior management.
• Conduct ongoing monitoring activities to ensure compliance with vendor risk management policies
• Create and maintain effective relationships and regular interaction with all groups and departments, other members of the risk group, external stakeholders and regulators, as applicable.
• Maintain a strong understanding of current business and function risks to adequately assess risk exposures and impacts.
• Conduct vendor risk assessments to identify potential risks and vulnerabilities
• Prepare regular reports on vendor risk management activities and provide updates to senior management
• Develop and implement a third-party (vendor) risk management and compliance program based on industry best practices.
• Lead the development, implementation and communication of vendor compliance and risk policies and procedures to various internal stakeholders.

What you'll have:

• Experience in developing and implementing vendor risk management policies and procedures
• Strong project management skills
• Ability to understand, interpret and communicate regulations and policies
• Attention to detail and ability to work in a fast-paced environment
• Process/control, program design and analytical skills
• Experience in vendor contract negotiations
• Excellent communication skills with the ability to work effectively with various stakeholders
• Ability to thrive and apply judgement during periods of change and ambiguity
• 5+ years of experience in operational risk management, vendor risk management, vendor regulatory compliance or related field
• Demonstrated understanding of vendor risk and operational risk management measurement and reporting
• Bachelor's degree in business, finance, or a related field
• Knowledge of vendor risk management frameworks and best practices
• Strong analytical skills with the ability to assess risk and make recommendations

Preferred Qualifications:

• Experience with vendor risk management and/or vendor compliance tools and technologies
• Supply Chain Management Designation (SCMP)
• Experience in the financial services industry
• Certified Third Party Risk Professional (CTPRP) or other relevant certifications

#LI- Hybrid

Central 1 is an equal opportunity employer and committed to building an inclusive workforce by creating an environment where everyone feels like they belong and has the opportunity to be successful. We welcome of all applicants to join our diverse workforce and we will provide an accessible candidate experience including, but not limited to accommodations to interview sites and alternate formats upon request to our Recruitment team.