Vendor Governance Management Senior Analyst

Job Description: The Senior Analyst, Vendor Governance reports locally to the Director Vendor Risk in MBPS and works operationally with the Sr Director, Vendor Governance Management in North America (Business Unit) and is responsible for ensuring effective risk management of the Company’s vendors globally. The incumbent will have a deep understanding of relevant risk management principles and best practices. The individual is accountable for driving and monitoring compliance to the Company’s Outsourcing and Third-Party Risk Management Policy. As a critical element of the first line of defense, the Senior Analyst will monitor and manage vendor risk, including conducting risk assessments and developing risk mitigation plans for vendors deemed to be highest or heightened risk. As a subject matter expert, the incumbent is expected to contribute to development and delivery of vendor risk management training and provide input to relevant policies, processes and tools. In this capacity, the individual must be skilled in influencing others to assess and monitor vendor risk and follow vendor risk management policy. Position Responsibilities: Partner on an ongoing basis with business units & internal subject matter experts to identify and evaluate all risks and risk mitigation strategies associated with procurement highest and heightened risk vendors. Ensure Pre-Screening Questionnaires and Inherent risk questionnaires are completed on a timely manner and required actions are taken. Participate in pre-contract due diligence of highest or heightened risk vendors. Assess impact of risk assessments on vendor evaluation and selection. Participate in pre-contract clause review of highest or heightened risk vendors. Assess if any mandatory risk clauses are required, and action are taken to address the risk. Reassess the risks associated with highest and heightened risk vendors prior to the renewal of contract agreements. Proactively monitor all vendors for emerging risks and provide business partners with visibility. Ensure completion and compliance for all activities related to outsourcing regulatory governance. Participate in monitoring risk incidents and remediation resolution including development and execution of corrective action plans and ensure follow-on reporting and monitoring. Evaluate and process complaints, appeals and grievances. Participate in collaborating with the business to develop disaster recovery and business continuity plans for highest risk vendors. Escalate vendor risk issues and compliance problems that have not been adequately addressed. Support development and execution of a robust communication and training plan to facilitate the effective awareness and application of outsourcing and third-party risk management policy and best practices. Serve as a subject matter expert in interpreting requirements and improving awareness of operational risks faced by the businesses from vendor failure/poor performance. Engage Information Risk Management and other risk Subject Matter Experts such as Legal, Compliance, Operational Risk Management, Investigative Services and Tax, as applicable, for assessment and review of risks identified during due diligence as well as identification of acceptable remediation. Develop and maintain standard operating procedures (SOPs). Stay informed about the latest developments in the vendor risk management field. Perform any other job-related instructions, as requested, with reasonable accommodation. Required Qualifications: 3+ years’ experience in vendor management or third-party risk, Operational or Enterprise Risk, Internal Audit or Corporate Procurement or Contracts. Experience in a professional environment. Knowledge of risk and control practices, procedures and principles. Strong written and verbal communication skills. Demonstrated ability to meet deliverables on time. Strong interpersonal skills and service-oriented attitude. Exceptional multitasking skills with an aptitude to make the right decision on competing priorities and deadlines. Strong PC skills and proficiency with MS Excel, Word, Access and SharePoint. Excellent communication and problem-solving capability. Attentive to detail and quality, well-organized, innovative and result driven. Self-starter with high level of initiative. Exercises good judgment. Operates in a professional and ethical manner with customers and vendors. Preferred Qualifications: 3+ years’ experience in vendor management applications, contract lifecycle management applications, Service Management tools. Experience with data cleanup projects involving vendor types of information. Familiarity with large-scale company systems, databases and reporting tools. Ability to work in the night shift and flexible in work schedule as business need requires. When you join our team: We’ll empower you to learn and grow the career you want. We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words. As part of our global team, we’ll support you in shaping the future you want to see. Manulife is an equal opportunities employer. We are committed to attracting, developing, and retaining a diverse and inclusive workforce, and to creating a workplace environment that is respectful and inclusive of all employees. We believe that a diverse workforce is essential to our success, and we are committed to providing a workplace environment that is free from discrimination and harassment. #J-18808-Ljbffr