Director, Third-Party Risk Management

Merrick Bank • South Jordan, UT

5d

About The Position

The Director, Third-Party Risk Management (TPRM), is a second-line risk leader responsible for directing the execution, oversight, and continuous enhancement of Merrick Bank’s TPRM Program. The role provides independent review and challenge across the third-party lifecycle, turns third-party risk information into decision-useful insights, and drives timely escalation and remediation of material exposures. The Director partners with senior management and first- and second-line stakeholders to promote consistent, risk-based decisions aligned with regulatory requirements, internal policies, and the Bank’s risk appetite.

The role leads the TPRM team and program, overseeing risk-based due diligence, assessments, control evaluations, ongoing monitoring, issue management, reporting, quality assurance, and regulatory readiness. It develops and maintains program policies and methodologies, supports risk-proportionate contracting and exit planning, and presents risk reporting to Senior Management, risk committees, and the Board. The Director also drives improvements to TPRM tools, data, workflows, reporting, and GRC capabilities.

The position requires a bachelor’s degree in a relevant field and at least eight years of progressive experience in TPRM or a related risk discipline, including demonstrated responsibility for leading people, programs, or significant cross-functional initiatives. Advanced education or relevant professional certification is preferred.

Requirements

• Bachelor’s degree in Risk Management, Finance, Business Administration, Accounting, Information Systems, Supply Chain, or a related field.
• At least eight years of progressive experience in Third-Party Risk Management, Enterprise Risk Management, Operational Risk, vendor risk, internal audit, compliance, information security risk, or a related discipline within financial services or another highly regulated environment.
• Demonstrated responsibility for leading people, programs, or material cross-functional initiatives.
• In-depth knowledge of the full third-party lifecycle, risk-tiering methodologies, due diligence, control evaluation, ongoing monitoring, issue management, concentration risk, subcontractor risk, business resilience, and regulatory expectations applicable to financial institutions.
• Ability to provide independent review and effective challenge, make well-supported risk judgments, distinguish first- and second-line accountability, and escalate material concerns with clear recommendations.
• Expertise in executive- and Board-level risk reporting, including dashboards, key risk indicators, portfolio trends, concentrations, exceptions, material issues, and concise written risk assessments.
• Ability to synthesize complex qualitative and quantitative information into clear, decision-useful insights and recommendations for senior management and governance committees.
• Ability to lead teams and cross-functional initiatives, influence senior stakeholders, resolve accountability gaps, and maintain an independent risk perspective while enabling timely business decisions.
• Comply with internal control policies and procedures and understand and comply with applicable laws and regulations.

Nice To Haves

• Advanced degree.
• Relevant professional certification, such as CTPRP, CTPRA, CRVPM, CRMA, FRM, CPA, CIA, CISM, or CRISC.

Responsibilities

• Direct the execution and continuous enhancement of the Bank’s TPRM framework across planning, due diligence, selection, contracting, ongoing monitoring, issue management, renewal, and termination.
• Provide leadership, direction, workload prioritization, coaching, and performance oversight to TPRM team members and supporting functional resources.
• Oversee and, when needed, perform risk-based due diligence, risk assessments, control evaluations, and ongoing monitoring throughout the third-party lifecycle.
• Partner with business units, Vendor Relationship Owners, Vendor Engagement Leads, Vendor Management, and Subject Matter Experts to clarify accountabilities and identify, assess, monitor, and mitigate third-party risks.
• Ensure material changes in third-party scope, performance, or risk profile are evaluated and escalated.
• Provide independent review and effective challenge of third-party risk assessments, risk ratings, exceptions, control conclusions, and proposed risk responses; document the basis for challenge and escalate matters exceeding thresholds, risk appetite, or approval authority.
• Oversee monitoring of third-party performance, financial condition, control effectiveness, risk indicators, complaints, incidents, concentration risk, issues, and remediation commitments; identify trends and emerging risks and escalate material concerns.
• Lead the development, maintenance, and periodic review of TPRM policies, standards, procedures, methodologies, and workflows.
• Develop and present dashboards, metrics, trend analyses, risk concentrations, material exceptions, and executive summaries to Senior Management, risk committees, and the Board of Directors.
• Partner with Legal, Vendor Management, Information Security, Compliance, Business Continuity, Procurement, and business stakeholders on contract provisions, audit and access rights, performance expectations, security requirements, resilience obligations, issue escalation, and exit or contingency planning.
• Own TPRM program quality assurance and regulatory readiness, including documentation standards, records in the approved system of record, examination and audit support, findings management, and evidence of corrective action.
• Drive continuous improvement of TPRM tools, data, workflows, reporting, and GRC capabilities to improve data quality, traceability, cycle times, portfolio visibility, and sustainable execution.
• Comply with the Bank’s internal control policies and procedures and applicable laws and regulations; communicate operational problems, noncompliance, policy violations, or illegal acts.

Benefits

• Competitive pay, including a bonus target or variable pay incentive program.
• Medical, dental, and vision coverage, plus additional benefits.
• 401(k) plan with company match.
• Short- and long-term disability coverage.
• Wellness programs.
• Group life and AD&D insurance.
• Paid vacation, sick days, and bank holidays.
• Employee engagement activities, including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, and Service Recognition.

What This Job Offers

• Job Type: Full-time
• Career Level: Director