he Director will have a deep understanding of relevant risk management principles and best practices.  The role is accountable for driving and monitoring compliance to the Company’s Outsourcing Vendor Risk Management (OVRM) Policy. As a critical element of the first line of defense, the incumbent will monitor and manage vendor risk, including conducting risk assessments and developing risk mitigation plans for vendors deemed to be highest risk.  The incumbent will develop and deliver vendor risk reporting based on a broad set of metrics.  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 incumbent must be skilled in influencing others to assess and monitor vendor risk and follow vendor risk management policy.

Position Responsibilities:

• Contribute to the development, governance and execution of a company-wide vendor management discipline that meets regulatory and Manulife requirements while leveraging appropriate tools.

• Provide support to vendor risk governance team

• Participate in strategic planning and leadership management team decisions and committees

• Create Methodology to sample first-line of defense vendor governance activities and to ensure high quality of compliance to requirements. 

• Partner on an ongoing basis with business units & internal subject matter experts to identify and evaluate all risks and risk mitigation strategies associated with high risk vendors.

• Review and Challenge inherent risk questionnaires and ensure any required actions are taken.

• Review pre-contract due diligence and VISM Assessments of high and medium risk vendors. Assess impact of risk assessments on vendor evaluation and selection.

• Work with Strategic Sourcing/Legal/Business to mitigate any potential risks and loss by the establishment of robust contracts.

• Reassess the risks associated with high and medium risk vendors prior to the renewal of contract agreements.

• Proactively monitor high risk vendors for emerging risks and provide business partners with visibility and recommended action plans.

• Review and Challenge annual risk governance reviews for high-risk vendors.

• Ensure completion and compliance for all activities related to outsourcing regulatory governance.

• Perform data aggregation, data analytics and reporting activities. Provide and maintain vendor risk reporting mechanisms, and track and report outcomes from vendor management activities. Collect, organize, and distribute reports and documents and recommend enhancements to reporting and audit tools.

• Aggregate key risk metrics and performance metrics and provide to the Strategic Procurement Office for reporting to the Enterprise Risk Committee, Operational Risk Committee and Board Risk Committee.

• 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.

• Oversee Medium and Low Risk Governance Reviews and ongoing monitoring

• Complete Annual Attestation Review and Approval Process

• 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 the Third-Party Risk Management (TPRM) policy and best practices.

• Stay informed about the latest developments in the vendor risk management field.

• 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.

• Perform any other job-related instructions, as requested, with reasonable accommodation.

• Develop and Manage Team (2 Direct Reports)

Required Qualifications:

• Undergraduate degree (business preferred)

• 10+ years of progressive business experience, preferably including procurement, vendor management and/or risk management

• Expert knowledge of risk management principles, best practices and tools

• Experience in a risk management services function

• Experience working in a global environment

• Familiar with Manulife’s business operations, strategies and financial environment

• Deep knowledge of regulatory requirements relating to management of third-party outsourcing in the jurisdiction in which Manulife operates

• Deep understanding and application of industry vendor risk management principles and vendor risk analysis and governance best practices.

• Problem analyzer and decision maker – effectively searches and uses industry and market insights; able to assimilate, synthesize, and present complex information in a value-added form; attention to detail; evaluates feasibility and practicality of ideas and options; takes ownership and makes informed and timely decisions.

• Proven innovator – expert in identifying and implementing change management and business process transformation; consistently challenges the status quo; takes balanced risks to promote growth of ideas; comfortable in high pressure environments.

• Strategic thinker – thinks conceptually beyond day-to-day business realities; creates a clear vision and goals and adopts a long-term perspective; anticipates emerging issues.

• Global thinker – dedicated to improving the Company’s competitive position on an enterprise and global level; understands and is respectful of what works in different parts of the world and what doesn’t.

• Team builder – builds strategic partnerships with internal clients and vendors; builds buy-in and engagement with key stakeholders.

• Skilled communicator – communicates complexity with clarity and ease; articulates a clear view of concepts, ideas, and objectives; able to interface with different stakeholders at all levels; represents the company externally with confidence; skilled in both oral and written communication.

• Collaborator – shares resources and leverages knowledge across the organization; builds and nurtures an extensive network.

• Evaluate, recommend, and communicate on risks and risk exposure around Vendor Management

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.

#LI-Hybrid

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact recruitment@manulife.com.

Salary range is expected to be between

If you are applying for this role outside of the primary location, please contact recruitment@manulife.com for the salary range for your location. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.

Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact recruitment@manulife.com for more information about U.S.-specific paid time off provisions.