Associate Director, Third Party Risk Governance & Framework
About The Position
As part of Operational Risk & Resilience (ORR), the Associate Director, Third Party Risk Governance & Framework strengthens DTCC's second line of defense by managing and implementing the design, governance, and enhancement of the Third Party Risk framework. The role defines how Third Party Risk is managed across DTCC through policies, standards, methodologies, regulatory alignment, resilience integration, lifecycle requirements, and program governance. The position helps strengthen DTCC's Third Party Risk program, control environment, and risk culture. The role maintains the framework and lifecycle governance, including risk taxonomy, methodology, and control integration. It translates regulatory expectations into governance enhancements and partners with relevant internal functions to support examinations, remediation, and supervisory readiness. It also establishes governance requirements for critical third parties and specialized third-party risk areas, coordinating with Business Continuity and Operational Resilience teams on resilience and dependency considerations.
Requirements
- 8–10 years of experience in Third Party Risk Management, Operational Risk, Enterprise Risk Management, Compliance, Regulatory Affairs, or related disciplines.
- Strong understanding of Third Party Risk frameworks, cyber, resiliency, compliance, privacy, governance models, lifecycle requirements, and regulatory expectations.
- Experience developing or enhancing policies, standards, controls, and risk frameworks in highly regulated environments.
- Ability to translate complex regulatory expectations into practical, scalable, and risk-based governance requirements.
- Sound judgment and risk-based decision-making.
- Strong knowledge of risk taxonomy, classification, tiering, segmentation, and assessment methodologies.
- Experience supporting regulatory examinations, remediation programs, and framework enhancement initiatives.
- Executive communication, stakeholder management, influencing, strategic thinking, and program execution skills.
- Collaborative and proactive approach focused on continuous improvement, risk reduction, and regulatory excellence.
Nice To Haves
- Bachelor's degree or equivalent experience.
- Financial services, market infrastructure, banking, or regulatory experience.
Responsibilities
- Maintain Third Party Risk policies, standards, procedures, methodologies, controls, and governance documentation.
- Define risk-based lifecycle requirements for third-party identification, assessment, management, monitoring, contingency planning, and termination.
- Drive framework enhancements and work with first line of defense Third Party Management to improve program effectiveness, training, operational clarity, regulatory alignment, and responsiveness to emerging risks.
- Maintain Third Party Risk taxonomies, risk categories, classification criteria, tiering standards, and criticality methodologies.
- Promote consistent enterprise application of segmentation, assessment, monitoring, oversight, and reporting standards.
- Integrate Third Party Risk expectations into enterprise risk processes, including RCSAs, CPRAs, risk scenarios, control expectations, and assessment methodologies.
- Monitor applicable regulatory expectations and translate changes into policy, standards, control, and governance enhancements.
- Partner with Compliance, Legal, Internal Audit, Third Party Management, and business stakeholders to support regulatory examinations, remediation, and supervisory readiness.
- Establish governance requirements for critical third parties, including enhanced due diligence, ongoing monitoring, resilience, contingency planning, substitutability, and exit strategies.
- Partner with Business Continuity and Operational Resilience teams to incorporate third-party resilience and dependency considerations into lifecycle and governance decisions.
- Establish enterprise requirements for specialized third-party risk areas, including technology, market data, staff augmentation, exchange and trading venues, financial market infrastructure, and clearing brokers.
- Define governance controls for onboarding, access, tenure, concentration risk, privileged access, role dependency, supervisor accountability, and regulatory compliance for specialized third-party risk areas.
Benefits
- Competitive compensation, including base pay and annual incentive.
- Comprehensive health and life insurance and well-being benefits, based on location.
- Pension and retirement benefits.
- Paid time off and personal/family care, and other leaves of absence to support physical, financial, and emotional well-being.
- Flexible/hybrid work model with three days onsite and two days remote.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
