Third-Party Risk Professional
About The Position
As a Third-Party Risk Professional, you'll partner with business lines and third parties to support adherence to the Third-Party Risk & Controls (TPRC) program. You'll manage a portfolio of third-party relationships and engagements of moderate complexity and risk, helping ensure effective third-party oversight and compliance with regulatory requirements. In this role, you'll serve as the Third-Party Manager (TPM) for a portfolio of engagements. You'll partner with third-party engagement owners to conduct inherent risk analyses during onboarding and at required risk-based refresh and reassessment intervals. In addition, you'll coordinate and monitor the assessment process throughout onboarding and reassessment. In addition, you'll collect documentation from third parties and perform program-level due diligence activities. Working closely with business engagement owners, you'll follow up with third parties on outstanding requests and respond to clarifying questions from Risk Control Partners. In addition, you'll support the business in engaging Legal for contract review and provide guidance on contract signing authority to move engagements to active status. Once third-party engagements are onboarded, you'll work with the business to conduct risk-based ongoing monitoring like scorecards and service-level agreement monitoring. Responsible for supporting the business in performing all activities across the TPRC lifecycle for a small and/or moderate-risk portfolio of third-party relationships. Conduct inherent risk questionnaire workshops with business engagement owners to determine the inherent risk rating and in scope risk domains that defines 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 supports the business in the documentation of exit strategies, performance scorecards, or other engagement-specific monitoring requirements.
Requirements
- 4+ years of related experience in Vendor Management or similar field.
- Bachelor's degree or equivalent experience required.
- Intermediate knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
- Intermediate knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
- Intermediate proficiency in Microsoft Word, Excel, and Outlook.
- Intermediate experience working multiple, concurrent projects and carrying out assignments to completion within parameters of instructions given, prescribed routines, and standard accepted practices.
- Advanced speaking and writing communication skills.
Nice To Haves
- Bachelor's degree in related field preferred.
- Certification(s) in COSO internal control framework, IT control objectives (COBIT) guidelines, NIST Cyber Security Framework, ISO 27001, PCI-DSS, GDPR, or GBLA preferred.
Responsibilities
- Manage a portfolio of third-party relationships and engagements of moderate complexity and risk.
- Serve as the Third-Party Manager (TPM) for a portfolio of engagements.
- Partner with third-party engagement owners to conduct inherent risk analyses during onboarding and at required risk-based refresh and reassessment intervals.
- Coordinate and monitor the assessment process throughout onboarding and reassessment.
- Collect documentation from third parties and perform program-level due diligence activities.
- Follow up with third parties on outstanding requests and respond to clarifying questions from Risk Control Partners.
- Support the business in engaging Legal for contract review and provide guidance on contract signing authority.
- Conduct risk-based ongoing monitoring like scorecards and service-level agreement monitoring.
- Conduct inherent risk questionnaire workshops with business engagement owners.
- 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 supports the business in the documentation of exit strategies, performance scorecards, or other engagement-specific monitoring requirements.
Benefits
- 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
- A wellness program
- Opportunity to bolster business knowledge
- Learning the ins and outs of how successful companies operate and manage their finances
- Invaluable hands-on experience to help grow your career
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
