Third - Party Risk Manager

Western Alliance Bank•Phoenix, AZ

About The Position

The Third-Party Risk Manager partners with business lines and third parties to support adherence to the Third-Party Risk & Controls (TPRC) program. The role manages a portfolio of third-party relationships and may guide a small team in managing engagements and meeting regulatory requirements. It serves as a Third-Party Manager (TPM) and provides formal or informal guidance to others performing TPM activities across their portfolios. The role manages the full third-party lifecycle, including planning, due diligence, contracting, ongoing monitoring, and termination. It supports operational excellence by identifying program improvements across business lines and with stakeholders such as Legal and Risk Control Partners, and helps ensure new TPRC protocols are understood throughout the Bank.

Requirements

7+ years of related experience in Vendor Management or a similar field.
Bachelor's degree or equivalent experience required.
Intermediate to advanced knowledge of general banking operations, including deposit operations, loan administration, treasury management, and/or other commercial banking products and services.
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.

Nice To Haves

Bachelor's degree in a related field preferred.

Responsibilities

Support business activities across the TPRC lifecycle for a larger group or higher-complexity or higher-risk portfolio of third-party relationships.
Analyze third-party engagements with similar characteristics to promote consistent evaluations.
Resolve questions or concerns from TPRC resources, stakeholders, and business resources.
Raise awareness and escalate matters to management when appropriate.
Manage a portfolio of third-party engagements and ensure required activities occur on schedule.
Conduct inherent risk questionnaire workshops with business engagement owners to determine inherent risk ratings and in-scope risk domains for onboarding due diligence, reassessment, and ongoing monitoring.
Collect third-party documents for due diligence and risk and control assessments.
Perform due diligence activities such as OFAC, financial health, and prohibited entity checks.
Confirm appropriate legal review and signatory authority for executed contracts.
Identify service level agreements (SLAs) to track during ongoing monitoring.
Guide and support the business in documenting exit strategies, performance scorecards, and other engagement-specific monitoring requirements.
Advise business stakeholders on TPRC lifecycle activities as needed.
May lead and develop a team, including hiring, coaching, performance management, and training and development.
Identify opportunities to improve the TPRC program across business lines and with relevant stakeholders.
Ensure new TPRC protocols are understood within TPRC and throughout the Bank.