Head of Third Party Risk Management

New York Life • New York, NY

292d • $137,500 - $237,500 • Remote

About The Position

New York Life seeks an experienced, strategic leader to serve as Head of Third-Party Risk Management (TPRM). Sitting in the Second Line of Defense, with oversight into the 1.5 Line of Defense, this role ensures an effective third-party risk management framework. The Head of TPRM will lead a team, manage key oversight programs, and chair the Third-Party Advisory Group (TPAG). This role requires a strategic mindset, expertise in regulatory compliance, risk governance, and operational resilience, along with strong influencing and relationship-building skills. As a trusted advisor to senior leadership, this individual will provide risk insights and drive cross-functional collaboration to strengthen third-party risk management. Additionally, they will serve on the Enterprise Resilience Leadership Team, overseeing the company's comprehensive third-party inventory, including both traditional and non-traditional third parties. This role requires strong presentation skills and the ability to engage senior executive stakeholders across the company.

Requirements

• 10+ years of experience in Third-Party Risk Management, Operational Risk, or Vendor Management within a large financial institution, insurance company, or regulated entity.
• Strong knowledge of third-party risk frameworks, regulatory expectations (NAIC, OCC, NYDFS, FFIEC), and industry best practices (e.g., NIST, SIG, ISO 27001, SOC reports).
• Proven ability to strategically influence and develop strong relationships with senior executives, regulators, and cross-functional stakeholders.
• Experience managing Second Line and 1.5 Line oversight functions with direct interaction with senior executives and regulatory bodies.
• Proven experience leading risk committees and / or governance forums.
• Exceptional leadership, stakeholder management, and influencing skills.
• Bachelor's degree required; and relevant certifications (e.g., CTPRP, CISSP or similar).

Responsibilities

• Develop, implement, and oversee the company's enterprise-wide Third-Party Risk Management program, ensuring alignment with corporate risk appetite and regulatory expectations.
• Lead the governance of third-party risk, including policy development, risk framework enhancements, and oversight of third-party risk assessments.
• Serve as Chair of the Third-Party Advisory Group (TPAG), facilitating discussions, risk decisions, and strategic guidance on critical third-party relationships.
• Work closely with Procurement, Information Security, Legal, Compliance, Business Continuity, and Operational Risk teams to enhance third-party risk practices and resilience.
• Stay ahead of evolving regulatory requirements related to third-party risk (NAIC, NYDFS, etc.) and ensure compliance through robust risk management practices.
• Oversee risk assessments, due diligence, and ongoing monitoring of vendors, ensuring risks related to cybersecurity, financial stability, compliance, and operational resilience are proactively managed.
• Provide executive-level reporting on third-party risk posture, trends, including key risk and performance indicators (KRI / KPIs).
• Manage and develop a high-performing team, ensuring talent development and continuous improvement within the TPRM function.
• Collaborate with Crisis Management and Business Continuity teams to ensure vendor-related disruptions are effectively managed and mitigated.

Benefits

• Full package of benefits for employees including leave programs, adoption assistance, and student loan repayment programs.
• Annual discretionary bonus eligibility.
• Incentive program participation eligibility.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Insurance Carriers and Related Activities
• Education Level: Bachelor's degree