Third-Party Risk Manager

First Electronic Bank•Salt Lake City, UT

1d•Hybrid

About The Position

At First Electronic Bank (FEB), the Third-Party Risk Manager supports the Bank’s Third- and Fourth-Party Risk Management Programs through assessment, monitoring, and ongoing oversight of third- and fourth-party relationships. The role partners closely with internal stakeholders and strategic partners to identify, evaluate, and mitigate risks associated with vendors, service providers, merchants, and critical subcontractors. It conducts due diligence reviews, monitors risk exposure, and helps ensure compliance with regulatory requirements and Bank policies. The position conducts risk assessments and due diligence, reviews financial, operational, compliance, information security, and business continuity documentation, and recommends mitigation strategies. It performs risk-based ongoing monitoring, tracks remediation and risk treatment plans, and escalates emerging risks and control deficiencies. It also reviews strategic partners’ vendor management practices and critical subcontractor oversight, maintains inventories and supporting documentation, and supports merchant and strategic partner onboarding and ongoing risk assessments. The role prepares risk reporting and management information, supports regulatory examinations and audits, assists with remediation of findings, and assesses regulatory changes to determine and implement required actions. It stays informed about industry best practices to support continuous process improvement. The position is based in Salt Lake City and combines in-office and remote work.

Requirements

Bachelor’s degree in business, Finance, Risk Management, or a related field.
Minimum of 5 years of experience in risk management, compliance, audit, or third-party risk management within sponsor banking or financial services.
Strong analytical and problem-solving skills.
Excellent communication and interpersonal abilities.
Proficiency in risk management tools and software.
In-depth understanding of regulatory requirements and industry standards related to third- and fourth-party risk management.
Thorough knowledge of Microsoft Product Suite, including Word, Excel, PowerPoint, and SharePoint.

Nice To Haves

Third Party Risk Management certification is preferred.

Responsibilities

Conduct due diligence and risk assessments for third-party vendors, strategic partners, merchants, and critical fourth-party relationships.
Review financial, operational, compliance, information security, and business continuity documentation.
Identify risks and recommend mitigation strategies.
Perform ongoing monitoring activities commensurate with risk.
Track remediation efforts and risk treatment plans.
Escalate emerging risks and control deficiencies.
Assess third- and fourth-party relationships for compliance with Bank standards and regulatory expectations.
Review strategic partners’ vendor management practices and critical subcontractor oversight.
Maintain inventories and supporting documentation.
Support onboarding and ongoing risk assessments of merchants and strategic partners.
Evaluate business models, control environments, and risk management practices.
Identify operational, compliance, financial, and reputational risks.
Prepare risk reporting and management information.
Support regulatory examinations and audits.
Assist with remediation of findings.
Assess regulatory changes impacting Third-Party Risk and Control assessment to determine and implement required actions.
Stay updated on industry best practices to support continuous process improvement.