Third-Party Risk Analyst

Alerus • Minnetonka, MN

16h • $65,000 - $80,000 • Onsite

About The Position

The Third‑Party Risk Analyst is responsible for assessing, monitoring, and managing risks associated with the organization’s third‑party service providers across the full vendor lifecycle. Ensures compliance with regulatory expectations (e.g., OCC 2023-17, Third Party Relationships: Interagency Guidance on Risk Management) and supports the bank’s broader Enterprise Risk Management program by performing due diligence, risk assessments, contract reviews, and ongoing monitoring of critical and high‑risk vendors. Reports to the Director of Enterprise Risk Management with significant internal collaborative relationships with management of various business units.

Requirements

• Bachelor’s Degree in Business, Finance, Accounting, Management/Risk Management, Information Systems, or a related field.
• 1-2 years of experience in third‑party risk management, vendor management, operational risk, or related risk/control discipline within financial services.
• Experience working with regulatory guidelines (e.g. OCC 2023-17, Interagency Guidance) and industry risk frameworks.
• Advanced level skills with Microsoft Office suite (specifically Excel, Powerpoint, and Sharepoint).
• Strong attention to detail and accuracy.
• Strong organizational, problem solving and analytical skills.
• Collaborative but also able to work independently.

Nice To Haves

• Experience with vendor management applications or software (e.g. Venminder) is desired.

Responsibilities

• Manage the risk assessment, onboarding, periodic review, and offboarding of third parties and vendors to the organization (i.e. Third-Party Lifecycle management).
• Coordinate with Legal and Compliance departments for appropriate contract review processes.
• Manage and maintain both internal users and external third parties and vendors in the vendor management system.
• Compile and report relevant vendor risk information and data to the Board monthly.
• Contribute to New Product Risk Assessments with ERM management.
• Maintain and enhance the use of the company’s Third Party/Vendor management system and functionality.
• Coordinate with applicable management for SOC reporting, external audit and regulatory reviews, and internal audit and compliance reviews.
• Assist with ERM committee and other meeting prep.

Benefits

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 251-500 employees