Third Party Risk Management Program Administrator

WSFS Bank•Wilmington, DE

About The Position

The Third-Party Risk Management Program Administrator will support the organization’s Third-Party Risk Management (TPRM) program within a regulated banking environment. This mid-level role is responsible for managing Third Party lifecycle, ensuring compliance with banking regulations, and mitigating risk associated with third-party relationships. The incumbent will bring experience in due diligence, contract oversight, and regulatory adherence.

Requirements

Bachelor’s degree in business, Finance, Risk Management, or a related field.
Minimum 3 years of experience in vendor management, third-party risk management, procurement, compliance, or related field, preferably within banking or financial services.
Experience reviewing and managing and redlining vendor contracts, including risk and compliance provisions.
Strong understanding of due diligence processes and risk assessment methodologies.
Must have excellent analytical, organizational, and problem-solving skills.
Ability to manage multiple priorities in a fast-paced, regulated environment.
Strong communication and stakeholder management skills.

Nice To Haves

Experience within a regulated banking or financial services environment is preferred.
Familiarity with Third Party Risk Management systems or risk assessment tools is preferred.
Knowledge of information security, data privacy, or operational risk principles is preferred.
Working knowledge of third-party risk management frameworks and regulatory expectations (e.g., OCC, FDIC, FFIEC).

Responsibilities

Manage the end-to-end Third-Party lifecycle, including onboarding, risk assessment, ongoing monitoring, and offboarding.
Conduct and review third-party risk assessments across operational, financial, compliance, and information security domains.
Perform and coordinate Third Party due diligence, including financial reviews, business continuity planning, information security, and compliance validation.
Partner with Legal and Procurement to review, redline, and manage Third Party contracts, ensuring inclusion of required regulatory and risk provisions (e.g., audit rights, data protection, SLAs).
Serve as Request for Proposal (RFP) Partner to business lines by providing advice and guidance.
Monitor Third Party performance, risk ratings, and remediation of identified issues or gaps.
Ensure compliance with applicable banking regulations and guidance (e.g., OCC, FDIC, CFPB, GLBA, FFIEC) related to third-party risk management.
Support internal and external audits and regulatory exams by providing documentation and evidence of compliance.
Maintain accurate and complete Third-Party records, documentation, and risk assessments.
Develop and deliver reporting on Third Party risk, performance metrics, and program effectiveness.
Collaborate with cross-functional teams including Risk, Compliance, Legal, Information Security, and business stakeholders.
Provide guidance and support to internal stakeholders on Third Party risk management practices and requirements.