Sr Analyst, Third Party Due Diligence

Fifth Third Bank•Cincinnati, OH

About The Position

Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. Position not available for immigration sponsorship. GENERAL FUNCTION: Assist in the administration and deployment of an enterprise-wide Third Party Management Program. This position will ensure that the Third Party Risk Management Policy, and Third Party program, processes and procedures are adhered to throughout the organization to ensure Bancorp third parties are managed according to regulatory standards and internal policies. This position is responsible for implementing and sustaining processes to assess, measure, analyze and manage third party due diligence responses and associated control documents and environments, as applicable,for the purposes of identifying risks and ensuring any risks outside of the Bancorp's risk appetite are prioritized and mitigated. Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Requirements

Bachelor's degree required.
4+ years of related business experience preferably in a banking environment.
Combination of one or more of the following skills required: Knowledge of Outside Service Providers, bank operations, auditing, Operational Risk, IT Security, Sarbanes Oxley, Basel and the FDICIA controls assessment.
Knowledge of Vendor Risk Management and Sourcing methodologies, best practices, strategies, and business processes.
Understanding of risk management practices and principles.

Responsibilities

Adhere to the Third Party Due Diligence framework through the execution of policies and procedures related to third party due diligence and recertification. This includes: ensuring due diligence is completed timely and appropriately, assessment of controls, identification of risks, tracking of regulatory controls and compliance related to outsourced processes, and identification and remediation of third party risks/issues.
Assists other Third Party Management employees in the execution and promotion of their duties as needed.
Execute processes in compliance with the defined third party policies, procedures and guidelines for the organization.
Support applicable due diligence tools, systems, processes and data utilized for the central oversight of third party processes, including the due diligence process.
Streamline processes for the effective management of these processes to ensure effective management and oversight of vendor risk.
As applicable act in service owner capacity for tools supporting the due diligence processes and streamline processes for the effective management of these processes and relationships to ensure effective management and oversight of third party risk.
Provide administrative support to owner of Third Party system(s) of record as needed.
Maintain current knowledge of compliance and regulatory requirements and outsourcing best practices to minimize/mitigate risk to the organization, and ensure quality standards, policies and procedures effectively address these requirements.
Provide reporting related to identified risks and status of due diligence reviews to ensure we are within the risk tolerance of the organization.
Work with assigned risk areas to ensure surveys utilized within the due diligence and recertification processes are up to date and encompassing of necessary control assessments and regulatory compliance.
Develop and foster effective working relationships with LOB and key risk stakeholders, especially risk area subject matter experts in the areas assigned for survey review..
Collaborate with Third Party Risk Oversight team as needed in monitoring of critical third party relationships.
Independently executes responsibilities and assignments.
Collect, consolidate and communicate detailed and summarized vendor due diligence results to key stakeholders, including Executive Management on vendor performance and relationships.