Third-Party Risk Manager

Western Alliance Bank • Phoenix, AZ

1d

About The Position

As a Third-Party Risk Manager, you’ll partner with business lines and third parties to support adherence to the Third-Party Risk & Controls (TPRC) program. In this role, you’ll manage a portfolio of third-party engagements and may guide a small team in the effective oversight of third parties, ensuring compliance with regulatory requirements. You’ll serve as a Third-Party Manager (TPM) while also providing formal or informal guidance to others within TPRC as they perform TPM activities across their respective portfolios. In this role, you’ll manage responsibilities across the full third-party lifecycle, including planning, due diligence, contracting, ongoing monitoring, and termination. You'll support TPRC operational excellence by identifying opportunities for improvement in the program across business lines as well as other stakeholders like the Legal department, Risk Control Partners, etc. In addition, you'll ensure full understanding of any new protocol within TPRC and throughout the Bank. Support the business in performing all activities across the TPRC lifecycle for a larger group or higher complexity/risk portfolio of third-party relationships. Conduct analysis across third-party engagements with similar characteristics to confirm consistency in evaluation of similar engagements. Resolve questions or concerns from TPRC resources, other stakeholders, or business resources. Raise awareness and/or escalate for discussion to management when appropriate. Manage a portfolio of third-party engagements ensuring required activities are occurring when required. Conduct inherent risk questionnaire workshops with business engagement owners to determine the inherent risk rating and in scope risk domains that define necessary activities for onboarding due diligence or reassessment and ongoing monitoring. Collect third-party documents in support of required due diligence or risk and control assessments. Perform general due diligence activities like OFAC, financial health, prohibited entity checks, etc. Confirm appropriate legal review and signatory authority on executed contracts. Identify service level agreements (SLAs) for tracking during ongoing monitoring. Guide and support the business in the documentation of exit strategies, performance scorecards, or other engagement-specific monitoring requirements. Advise business stakeholders on the TPRC lifecycle activities when necessary. May lead and develop a team; responsible for hiring, coaching, performance management, training and development.

Requirements

• 6+ years of related experience in Vendor Management, Vendor Management, Vendor Management, Vendor Management or similar field.
• Bachelor's degree in related field required.
• Intermediate to advanced knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
• Intermediate to advanced knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
• Advanced knowledge and skills in Microsoft Word, Excel and Outlook.
• Advanced experience managing multiple concurrent projects and delivering assignments to completion in accordance with defined instructions, prescribed routines, and standard accepted practices.
• Advanced speaking and writing communication skills.

Responsibilities

• Partner with business lines and third parties to support adherence to the Third-Party Risk & Controls (TPRC) program.
• Manage a portfolio of third-party engagements and may guide a small team in the effective oversight of third parties, ensuring compliance with regulatory requirements.
• Serve as a Third-Party Manager (TPM) while also providing formal or informal guidance to others within TPRC as they perform TPM activities across their respective portfolios.
• Manage responsibilities across the full third-party lifecycle, including planning, due diligence, contracting, ongoing monitoring, and termination.
• Support TPRC operational excellence by identifying opportunities for improvement in the program across business lines as well as other stakeholders like the Legal department, Risk Control Partners, etc.
• Ensure full understanding of any new protocol within TPRC and throughout the Bank.
• Support the business in performing all activities across the TPRC lifecycle for a larger group or higher complexity/risk portfolio of third-party relationships.
• Conduct analysis across third-party engagements with similar characteristics to confirm consistency in evaluation of similar engagements.
• Resolve questions or concerns from TPRC resources, other stakeholders, or business resources.
• Raise awareness and/or escalate for discussion to management when appropriate.
• Manage a portfolio of third-party engagements ensuring required activities are occurring when required.
• Conduct inherent risk questionnaire workshops with business engagement owners to determine the inherent risk rating and in scope risk domains that define necessary activities for onboarding due diligence or reassessment and ongoing monitoring.
• Collect third-party documents in support of required due diligence or risk and control assessments.
• Perform general due diligence activities like OFAC, financial health, prohibited entity checks, etc.
• Confirm appropriate legal review and signatory authority on executed contracts.
• Identify service level agreements (SLAs) for tracking during ongoing monitoring.
• Guide and support the business in the documentation of exit strategies, performance scorecards, or other engagement-specific monitoring requirements.
• Advise business stakeholders on the TPRC lifecycle activities when necessary.
• May lead and develop a team; responsible for hiring, coaching, performance management, training and development.

Benefits

• We offer all the important things you'd want — like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program.
• In addition, you’ll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees