Third Party Manager (North America)

Munich Re; Ontario; Hybrid; CAD 80,000 - 100,000; Full time

Job summary

Munich Re is seeking a professional to manage third-party risks, particularly IT vendor-related risks. This role involves conducting risk assessments, managing relationships, and ensuring compliance with regulations. The position offers a hybrid work environment and a competitive compensation package.

Benefits

Flexible Health and Dental Benefits

Hybrid Work Environment

Annual Bonus

Generous Time Off

Learning and Development Programs

Qualifications

• Approximately 5 years of professional experience in relevant fields.
• Understanding of current regulations and compliance requirements.

Responsibilities

• Manage the end-to-end global third-party lifecycle.
• Conduct risk assessments of assigned third-party relationships.
• Act as the point of contact for third-party risk domain questions.

Skills

Interpersonal Skills

Communication Skills

Problem-Solving Skills

Education

University Degree

Tools

IT Tools

Job description

As Munich Re’s reliance on third parties increases, so does the potential for these relationships to cause financial, operational, regulatory, and reputational losses to the firm. Increasing levels of regulatory and internal requirements must be ensured.

This is an exciting opportunity to support the establishment of a new global function, supporting Munich Re’s business owners in managing their third-party risks, particularly IT vendor-related risks. The Third Party Management Function (TPMF) has high senior management attention due to regulatory requirements.

The role is based in Toronto and reports to the North American Procurement Organization (legal view) and functionally to the Global TPMF department at Munich Re’s Head Office in Munich. Close collaboration with local Risk Management and Compliance functions is key for success.

Your Job

1. Manage the end-to-end global third-party lifecycle, including inherent risk analysis, residual risk assessment coordination, and periodic reviews of engagements.
2. Conduct, guide, consult, and challenge the business during inherent risk assessments of assigned third-party relationships, ensuring proper documentation.
3. Act as the initial and ongoing point of contact for all third-party risk domain questions, e.g., Information Security, Data Privacy, and Business Continuity.
4. Manage control assessment questionnaires, ensuring completeness, consistency, and quality of responses from third parties.
5. Support risk subject matter experts and coordinate remediation actions with third parties, collaborating with Risk Management to ensure closure and documentation of reviews.
6. Document workflows and artefacts in the Third Party Inventory (RSA Archer).

Your Profile

• Approximately 5 years of professional experience, preferably in Third Party Management, Risk Management, Information Security, Procurement, Business Administration, or Audit. A university degree is beneficial.
• Understanding of current regulations, compliance requirements, and external best practices.
• Proficiency with IT tools.
• Excellent interpersonal, communication, and target-oriented skills, both oral and written.
• Ability to manage multiple tasks while maintaining high-quality work.
• Problem-solving skills and the ability to communicate solutions effectively.
• Strong team player with effective interface management capabilities.

What Can We Offer You?

We offer great benefits and resources to support your mental, physical, and financial wellbeing, including:

• An engaging, collaborative environment that promotes continuous learning and development.
• A hybrid work environment with in-office and remote days, meeting-free lunch hours, and Focus Fridays.
• A competitive compensation package including an annual bonus.
• Company-paid flexible health and dental benefits from day one.
• Flexible dollars for Health and Wellness Spending Accounts.
• Immediate participation in the DC Pension Plan with a 5% employer contribution and optional company match.
• Generous time off, including vacation, personal days, unplanned leave, holidays, and early closure days.
• Access to learning and development programs, including LinkedIn Learning, Education Assistance, and professional fee reimbursement.
• Maternity, Parental, and Adoption Leave top-up programs.
• Employee Referral Program, Recognition, and Rewards Platform.

We are committed to creating an inclusive work environment free of barriers and discrimination. Accommodations will be provided for qualified applicants with disabilities throughout the recruitment process. Please contact [emailprotected] for support with accommodations.