Third Party Risk Senior Analyst

Role Summary We are seeking a Third Party Risk Senior Analyst to support the organization’s Third-Party Risk Management (TPRM) program. This role is responsible for assessing, challenging, and monitoring third-party risks throughout the vendor lifecycle, ensuring alignment with internal policies, regulatory expectations, and the organization’s risk appetite. A key responsibility of this role is to provide effective challenge of Inherent Risk Questionnaires (IRQs) to ensure the information provided by Contract Owners and business stakeholders is accurate, complete, internally consistent, and appropriately reflects the nature and risk of the third-party engagement. The resulting inherent risk assessment determines the scope and level of due diligence and ongoing monitoring required for the third party. The ideal candidate will have experience in third-party risk management, operational risk, compliance, or audit, with practical experience conducting inherent risk assessments, financial and adverse media reviews, ongoing monitoring, and governance activities. Key Responsibilities Risk Assessment & Due Diligence · Conduct and provide effective challenge of Inherent Risk Questionnaires (IRQs) completed by Contract Owners and business stakeholders, assessing whether responses are accurate, complete, internally consistent, and appropriately reflect the nature of the supplier engagement. · Challenge responses where information appears incomplete, inconsistent, or does not appropriately reflect factors such as service criticality, data sensitivity, technology dependencies, regulatory impact, or other relevant risk considerations. · Ensure the IRQ appropriately identifies the supplier’s inherent risk, as this assessment determines the scope and level of required due diligence and ongoing monitoring. · Escalate material gaps, inconsistencies, or unresolved concerns before the inherent risk assessment is finalized. · Perform financial due diligence, including review of supplier financial health, financial risk indicators, and credit information. · Conduct adverse/negative media reviews to identify potential reputational, legal, regulatory, or operational concerns. · Assess supplier risk information and identify areas requiring additional due diligence, escalation, or risk mitigation. · Review relevant third-party risk documentation and supporting evidence to assess completeness and identify potential risk concerns. · Provide guidance to Contract Owners and business stakeholders on TPRM requirements and their responsibilities throughout the vendor lifecycle. Ongoing Monitoring & Governance · Conduct risk-based ongoing monitoring of third parties in accordance with established policies, standards, and monitoring requirements. · Monitor supplier risk indicators, including financial health and performance, adverse/negative media, emerging global risks, and material changes to the supplier or services provided. · Assess changes in supplier risk and determine whether additional review, escalation, or risk mitigation is required. · Support periodic supplier reviews and maintain clear documentation of the supplier’s current risk posture. · Track risk findings, issues, remediation actions, and policy exceptions through resolution. · Identify and escalate material changes in supplier risk in accordance with established governance requirements. · Support a consistent, risk-based approach to third-party oversight, with appropriate focus on higher-risk and critical suppliers. · Support Contract Owners in understanding their accountability for ongoing supplier risk management. Compliance & Audit Support · Support adherence to internal Third-Party Risk Management policies, standards, procedures, and governance requirements. · Support compliance with applicable third-party risk regulatory requirements, including OSFI Guideline B-10, where relevant. · Assist with internal audit, external audit, regulatory reviews, and other assurance activities, including evidence gathering and remediation tracking. · Maintain accurate, complete, and appropriately documented risk assessments and audit trails. · Support the tracking and remediation of identified control gaps, risk findings, and regulatory or audit issues. Stakeholder Engagement · Partner with business units, Procurement, Contract Owners, and Risk and Control functions. · Clearly communicate risk assessment results, identified concerns, and required actions to relevant stakeholders. · Provide constructive and effective challenge where risk information, assessments, or supporting evidence are incomplete or inconsistent. · Provide training and guidance to Contract Owners and other stakeholders on third-party risk requirements and processes. · Support Contract Owners in understanding and fulfilling their accountability for third-party risk throughout the vendor lifecycle. Program Support & Continuous Improvement · Contribute to enhancements to TPRM processes, controls, tools, and frameworks. · Support the preparation of risk reporting, dashboards, metrics, and governance materials. · Identify opportunities to improve data quality, risk assessment effectiveness, process efficiency, and risk oversight. · Support improvements to inherent risk assessment and ongoing monitoring processes. · Stay informed of emerging third-party risks, regulatory developments, industry practices, and technology-related risks. Qualifications & Experience · 2–5 years of relevant experience in one or more of the following: · Third-Party Risk Management / Vendor Risk Management · Compliance · Internal or External Audit · Technology or Information Risk · Experience conducting or supporting: · Inherent risk assessments and effective challenge of risk questionnaires · Third-party due diligence · Financial risk reviews · Adverse/negative media reviews · Ongoing supplier monitoring · Issue and remediation tracking · Strong understanding of the thir