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Director, Third Party Risk Management

T. Rowe Price

Baltimore, MD

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JOB DETAILS
SALARY
$143,000–$245,000 Per Year
SKILLS
Artificial Intelligence (AI), Asset Management, Auditing, Automation, Best Practices, Business Administration, Business Law, CISA - Certified Information Systems Auditor, Communication Skills, Compensation and Benefits, Continuous Improvement, Data Visualization, Diversity, Documentation, Due Diligence, Ecosystems, Finance, Financial Services, Fixed Income Investments, Green Construction, ISO (International Organization for Standardization), Information Technology & Information Systems, Information/Data Security (InfoSec), Internal Audit, Investment Management, Leadership, Legal, Mentoring, Metrics, Microsoft Product Family, Military, Outsourcing, Performance Metrics, Power BI, Presentation/Verbal Skills, Procurement Software, Project Management Professional (PMP), Project/Program Management, Quality Assurance, Quality Metrics, Regulations, Regulatory Reports, Reporting Dashboards, Retirement Plan, Risk, Risk Analysis, Risk Management, Securities and Exchange Commission (SEC), Service Level Agreement (SLA), ServiceNow, Strategic Planning, Team Player, Trend Analysis, Writing Skills
LOCATION
Baltimore, MD
POSTED
4 days ago
At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident. We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity. Join us for the opportunity to grow and make a difference in ways that matter to you. Role Summary The Director – Third Party Risk Management is a Second Line of Defense (2LoD) leadership role responsible for the strategic development, oversight, and ongoing maturation of the firm’s Third Party Risk Management (TPRM) program. Reporting to the Head of Privacy & TPRM, this role is regarded as a subject matter expert in third-party risk and plays a key role in shaping the firm’s risk strategy, governance framework, and operating model following the implementation of an outsourced TPRM capability. The Director provides independent oversight, credible challenge, and assurance over first-line and outsourced TPRM activities, while building a sustainable, regulator-ready 2LoD function aligned with the firm’s risk appetite and regulatory expectations. Responsibilities TPRM Strategy & Program Leadership: Serve as the firm’s subject matter expert on third-party risk management. Contribute to the development and execution of the firm’s TPRM strategy, roadmap, and target-state operating model. Lead the build-out and continuous improvement of a 2LoD TPRM function following outsourcing of due diligence and periodic reviews. Define and maintain TPRM policies, standards, risk methodologies, and oversight frameworks aligned with regulatory expectations and industry best practices. Ensure alignment of the TPRM program with enterprise risk appetite and governance structures. Lead assessment of emerging third party risks and technologies, including AI, and integrate findings into TPRM strategy, governance, and executive reporting. Oversight of Outsourced & First-Line TPRM Activities: Provide independent oversight and effective challenge of outsourced TPRM service providers, including due diligence execution and ongoing monitoring. Oversight of monitoring activities related to SLAs, KPIs, quality assurance standards, and performance metrics for outsourced partners. Report on systemic control gaps, concentration risk, and emerging third-party risk themes across the vendor population. Escalate material third-party risk issues and control deficiencies through appropriate governance and risk committees. Risk Governance, Reporting & Regulatory Readiness: Design and deliver executive and board-level reporting on third-party risk, including trends, emerging risks, and risk appetite breaches. Lead TPRM-related regulatory exams, internal audits, and management assurance activities. Ensure TPRM documentation, evidence, and reporting are audit- and exam-ready. Partner with Enterprise Risk, Compliance, Legal, Information Security, Procurement, and Technology while maintaining 2LoD independence. Leadership & Capability Development: Provide leadership, guidance, and technical mentorship to TPRM risk analysts and managers. Establish clear roles, responsibilities, and RACI alignment across 1LoD, 2LoD, and outsourced providers. Drive adoption of data-driven, AI-enabled reporting and analytics to enhance risk insight and oversight efficiency. Promote a strong risk culture and consistent application of third-party risk standards across the firm. Qualifications Required: Bachelor’s degree in Risk Management, Information Systems, Finance, Business, Law, or a related field. 10+ years of experience in third-party risk management, operational risk, or compliance, with significant experience in a 2LoD capacity within financial services or asset management (or other industry subject to equivalent regulatory scrutiny). Demonstrated experience designing, implementing, or maturing a TPRM program, including oversight of outsourced or co-sourced models. Deep understanding of regulatory expectations for third-party risk (e.g., SEC, FINRA, global regulators). Proven ability to operate as a trusted expert and strategic advisor to senior leadership. Required Certifications (at least one): Certified Third Party Risk Professional (CTPRP) , Certified in Risk and Information Systems Control (CRISC) , Certified Information Systems Auditor (CISA) Preferred: Advanced degree (MBA, JD, or equivalent). Experience supporting global or complex vendor ecosystems. Additional certifications: ISO 27001 Lead Implementer or Auditor PMP or equivalent program management certification Experience leveraging AI, automation, or advanced analytics in TPRM oversight (e.g., Microsoft Co-Pilot, ChatGPT Enterprise). Tools & Technology (Preferred) Extensive experience with TPRM and GRC platforms (e.g., ServiceNow, Coupa). Strong executive-level reporting and data visualization skills (e.g., Power BI). Experience implementing metrics, KRIs, and dashboards aligned to risk appetite. Key Competencies Recognized expertise in third-party risk management. Strategic mindset with hands-on oversight capability. Strong executive presence and ability to provide credible challenge. Excellent written and verbal communication skills. Ability to lead through influence in a matrixed, regulated environment. FINRA Requirements FINRA licenses are not required and will not be supported for this role. Work Flexibility This role is eligible for hybrid work, with up to one day per week from home. Base Salary Ranges Please review the job posting for the location of this specific opportunity. $143,000.00 - $245,000.00 for the location of: Maryland, Colorado, Washington and remote workers $158,000.00 - $269,000.00 for the location of: Washington, D.C. $179,000.00 - $306,000.00 for the location of: New York, California Placement within the range provided above is based on the individual’s relevant experience and skills for the role. Base salary is only one component of our total compensation package. Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance. Commitment to Diversity, Equity, and Inclusion At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all. Benefits We value your goals and needs, at work and in life. As an associate, you’ll be supported with resources, benefits, and work-life balance so you can thrive in ways that matter to you. Featured employee benefits to enrich your life: Competitive compensation Annual bonus eligibility A generous retirement plan Hybrid work schedule Health and wellness benefits, including online therapy Paid time off for vacation, illness, medical appointments, and volunteering days Family care resources, including fertility and adoption benefits Learn more about our benefits. T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law. T. Rowe Price is an asset management firm focused on delivering global investment management excellence and retirement services that investors can rely on–now, and over the long term. Not ready to apply? Join our Talent Community!

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T. Rowe Price