Procurement Risk Management Specialist

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Description

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The Third-Party Risk Management Specialist is a key position supporting the functions of governance and third-party risk management. Governance responsibilities include development of procurement policies and procedures; guidance and governance of technical policy references; communications and change management of policy enhancements; and compliance with requirements.  TPRM responsibilities include ongoing implementation and review/update of the WBG TPRM Framework, in collaboration with Risk Partners, to effectively manage third-party risk in accordance with internal policy requirements and in response to emerging risks.  In addition, this position will provide support to the business units, Category Management teams, Risk Partners, and other stakeholders to facilitate understanding and compliance with Procurement processes including integration of risk management throughout the procurement and contract management cycle.

Roles and Responsibilities:

• Work with business units, Category Management teams and other stakeholders (e.g., Risk Partners) to continuously improve and monitor third-party risk across the organization, identify new areas of potential exposure, align third-party risk management strategies with the evolving goals and objectives of the World Bank Group, and execute programs ensuring consistency and effectiveness and adoption of a risk management framework that embeds best practices into the organization’s risk culture.
• Delivery on the TPRM program strategy to optimize the risk identification and mitigation plan for new and existing vendors/third parties, including support to the implementation of TPRM tool.
• Review risk appetite, tolerance and key risk indicators on an annual basis to ensure alignment with organizational strategy and appetite.
• Contribute to the maturity of the TPRM program to support the integration of risk control into business functions, the ongoing management of the third-party lifecycle, third-party segmentation, risk tiering, and stratification.
• Review TPRM program, procedures and related systems to ensure consistent application of a risk-based approach to ensure that risk management activity is commensurate with the level of risk applicable for a given third party.
• Ongoing review of governance documents, contribute to establishing risk assessment requirements across the division, setting reporting requirements, and developing an annual risk review schedule for key third parties.
• Regularly assess processes, procedures, tools, and technology integrations to identify opportunities for improvements that optimize workflow processes to assist business units and Category Management teams’ efforts to manage risks in WBG, increase compliance, and enhance cross-functional collaboration and insights.
• Provide proactive and reasonable assistance to business units’ compliance efforts, including serving as the subject matter expert in interpreting requirements and improving awareness of risks and mitigation measures related to concentration/reliance, failure, poor performance.
• Serve as main liaison with Risk Partners in facilitating ongoing alignment across the organization.
• Design and preparation of strategic reports to support ongoing risk management.
• Support development and execution of a robust communication and training plan to facilitate the effective application and awareness of TPRM strategies.
• Partner with Business Units & internal support functions to ensure that all risk assessment and mitigation requirements have been met; risk is monitored & mitigated throughout contract award and administration.
• Ongoing collaboration with stakeholders across the WBG to drive process improvement.
• Perform any other job-related functions, as requested, with reasonable accommodation.

Selection Criteria:

• Master’s degree in business, law, finance or related field or equivalent years of experience.
• Minimum of 8+ years related work experience in enterprise risk management, governance, third-party risk management, compliance, or vendor management in an international environment.
• Experience optimizing a TPRM/vendor management program for efficiency.
• Proven ability designing or enhancing third party risk management or compliance-related activities.
• Familiarity with risk management frameworks and best practice.
• Understanding of governance structures used to manage vendor risk programs and vendor risk mitigation and oversight.
• Ability to influence change in corporate understanding and adoption of governance and TPRM concepts.
• Ability to confidently communicate with stakeholders at all levels within the organization, including senior level management.

Source: https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=24808&site=1

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