Third-Party Risk Analyst II

First Bank Online•Nashville, TN

33d

About The Position

The Third-Party Risk Analyst, within the Third-Party Risk Management Program ("TPRM"), will be considered a subject matter expert in associated risk and risk management methodology and plays a pivotal role in the ongoing monitoring and assessment of FirstBank's vendor portfolio and third-party risk appetite. The Analyst will be responsible for performing third-party risk assessments and analyzing the risk level of third-party engagements, both for new and existing vendors, to ensure overall vendor risk is in line with FirstBank's risk methodology as well as regulatory and industry standards. The individual in this role will serve as part of the second line of defense for FirstBank by performing risk analysis functions and assisting with improvement efforts for various practices, policies, and procedures within the department. The Analyst must be a motivated, meticulous and practical self-starter. This individual must maintain confidentiality, professionalism, a helpful attitude and be able to work with a wide variety of people from business owners to external stakeholders. A willingness to learn and adapt quickly, with a positive and upbeat mindset, is critical to success in this role.

Requirements

Excellent verbal and written communication skills
Must have strong computer skills and advanced knowledge of Microsoft Office applications
Ability to quickly learn industry and job specific software
Ability to independently complete assigned tasks in timeframe requested
Strong critical thinking skills with the ability to make decisions under pressure
Generalized quantitative and analytical skills
General understanding of SOC reports, BCP/DR information, inherent risk and entity level controls
Ability to prioritize requests and communicate effectively in a deadline driven environment
Advanced organizational skills
Understands fundamental risk theories, principles, and concepts (preferably in the context of third-party risk for financial institutions)
Desires to seek job specific advanced training and certifications
Ability to build strong partnerships with internal and external stakeholders
Strong interpersonal and time management skills
Bachelor's degree and 2+ years of experience in TPRM, Compliance, Information Security, Quality Assurance/Control, Audit or other related Risk Management function

Nice To Haves

Project Management experience considered a plus
Banking experience preferred

Responsibilities

Responsible for performing third-party risk assessments and analyzing the risk level of third-party engagements, both for onboarding new vendors and reassessments of existing vendors, as part of ongoing review and update cycles
Partner with business units to ensure documentation is received and updated as needed
Analyze due diligence documentation to arrive at risk level determinations against the Bank's risk methodology and in accordance with regulatory and industry standards
Assess the adequacy of due diligence documentation received from vendors as a level of quality control (QC) prior to passing on to subject matter experts (SMEs)
Synthesize inputs from SMEs, vendor documentation, and business units to develop risk assessments and risk mitigation recommendations
Author risk narratives to communicate what the key risks are for an engagement with a vendor that support why a certain risk level has been assigned
Oversee the day-to-day risk mitigation, monitoring, analysis, and reporting as it relates to third-party relationships.
Successfully completes vendor provided training
Maintain certifications and keep current on regulatory requirements
Serve as system administrator and onboarding back-up
Perform other duties and responsibilities as assigned