Third Party Manager (North America)

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 have to 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, in particular IT vendor related risk. The Third Party Management Function (TPMF) has high senior management attention arising out of regulatory requirements.

The role is based in Toronto and will report into the North American Procurement Organization (legal view) and functionally into 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

• Managing the end to end global third party lifecycle including inherent risk analysis, coordinating residual risk assessment and periodic reviews of the respective engagements
• Responsible for conducting, guiding, consulting and challenging the business in the course of carrying out and documenting inherent risk assessments of the assigned third party relationships
• Acting as the initial and ongoing point of contact for the business for all questions related to the third party risk domains e.g. Information Security, Data Privacy and Business Continuity
• Managing the completion of control assessment questionnaires and act as the point of contact with the third party to ensure the completeness, consistency and quality of responses
• Supporting the risk subject matter experts and coordinate potential remediation actions and responses with the respective third party in a timely way in close collaboration with Risk Management ensure all actions are closed out and document second line review
• Responsible for documenting the workflow and respective artefacts in the Third Party Inventory (RSA Archer)

Your Profile

• Approx. 5 years professional experience preferably in the area of Third Party Management or similar such as Risk Management, Information Security, Procurement, Business administration or Audit. University degree beneficial
• Understanding of current regulation and compliance requirements and external best practices
• Comfortable with using IT tools
• Excellent interpersonal and target-oriented oral and written communication skills
• Ability to balance multiple tasks and maintain high level of quality of work
• Ability to problem solve and communicate solutions
• Strong team player with the capability to manage interfaces effectively

What Can We Offer You?

We are pleased to offer our employees great benefits and resources to support their mental, physical and financial wellbeing. These include:

• An engaging and collaborative environment that promotes continuous learning and development
• A hybrid work environment that combines weekly in-office and remote days with Meeting-Free lunch hours and Focus Friday afternoons
• A great compensation package including annual company bonus
• Market leading company-paid flexible health and dental benefits, starting on your first day
• Flexible dollars provided by the company to put towards Health Spending Account and/or Wellness Spending Account
• Immediate participation in DC Pension Plan with an automatic 5% employer contribution, plus optional company match
• Generous time off including vacation, personal days, unplanned time, Statutory Holidays and company-wide early closure half-days
• Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program and reimbursement for professional fees
• Maternity, Parental & Adoption Leave top-up program
• Employee Referral Program, Recognition & Rewards Platform

About Munich Re

Together, we engage with everything we have and are, to help humankind act braver and better.

As the world's leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients.

Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry. We invest strategically in our world class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.

Munich Re is committed to providing a work environment that is inclusive and free of employment barriers and discrimination. Accommodations will be made for qualified applicants with a disability throughout the recruitment process. If you receive a request for an interview and you have a disability which will require an accommodation to support your participation, please contact AODARequestHR@munichre.ca as soon as practical so that suitable accommodations can be arranged.