Posting Closes: February 12, 2025, 4:00 PM MST

Employment Status: Full-time, permanent (37.5 hrs/week)

Servus is growing! We are currently looking for a Risk & Monitoring Specialist in our Corporate Services Department. This is a hybrid position.

Servus Credit Union is Alberta's largest member-owned credit union, known for building strong, resilient communities by helping our members feel good about their money. One of Canada's Best Managed Companies for 20 consecutive years and ranked as one of the top banks in Canada on Forbes World’s Best Banks list for two years in a row, we are a team of smart, gutsy, and driven individuals.  

Reporting to the Procurement Lead, the Risk & Monitoring Specialist will play a crucial role in identifying, assessing, mitigating, and monitoring risks to ensure the company's compliance with regulatory requirements and internal policies and Third-Party Risk Management guidelines. This position demands a keen analytical mind, excellent problem-solving skills, and the ability to communicate effectively with various stakeholders to minimize financial, operational, regulatory, and reputational risk while maximizing vendor relationships.

More specifically, the scope of your responsibilities will include, but are not limited to:

Risk Assessments:

- Conduct thorough vendor risk assessments to identify potential risks.

- Use various tools and risk matrix, including Venminder risk management software, to manage risk.

- Provide ongoing recommendations to amend risk tools to ensure best practices are aligned with a continuously shifting organization.

- Employ qualitative and quantitative methods to assess risk likelihood and impact to the organization.

- Identify, monitor and report on all vendors with a focus on any vendor classified as critical/material.

- Develop a thorough understanding of Servus to develop a holistic view of risk for each vendor.

Risk Mitigation: Work with internal/external stakeholders to mitigate risks identified including reporting on inherent risks vs residual risks. Monitoring: Develop and implement monitoring strategies to continuously track and analyze risk factors and ensure all documentation is up to date. Compliance: Ensure adherence to contractual commitments and risk mitigation strategies by internal/external stakeholders to ensure regulatory requirements and internal policies and Third Party Risk Management framework is adhered to. Reporting: Prepare detailed reports on vendor risk assessment findings and present them to senior management including reporting on critical vendors, inherent/residual risk, etc. Collaboration: Work closely with other departments to integrate risk management practices into business processes to ensure compliance with all policies. Training: Conduct and create training material of vendor risk for staff to raise awareness about vendor risk management and monitoring. Continuous Improvement: Stay updated with industry trends and best practices and analyze trends to inform procurement strategies and present findings to leadership with actionable recommendations.