Third Party Risk Professional

Western Alliance Bank•Block, IL

About The Position

As a Vendor Risk Associate you'll work with WAB suppliers and internal business sponsors to assess service engagements for risk as it relates to the Corporate Third-Party Management Policy. You'll assist in the full life cycle for third party management processes from onboarding to managing existing third-party relationships. You will evaluate third-parties and build rating-based risk profiles, prepare audit documentation, facilitate due diligence questionnaires, and obtain various approvals. In this role, you will assist with monitoring third-party compliance with federal regulations regarding technology, security, operations, and data protection. You'll perform and coordinate the initial approval and renewal processes for the Company’s third-parties as well as their ongoing monitoring. Coordinate the review and approval process for new third-parties initiated by the Business Relationship Owners (BRO). Perform onboarding due diligence process for all new third-parties, including obtaining and reviewing references, background checks, financial statements, policies and other due diligence, as appropriate. Facilitate Due Diligence Questionnaires (DDQ) and supplier checks (OFAC, D&B, etc.). Contribute to cross functional teams monitoring third-party performance, contract, or risk. Assist with third-party risk reviews, maintain current contracts, artifacts, and obtain applicable approval for any exceptions to the Third-Party Management Policy. Facilitate contract review between business third-party management issues, and maintain third-party compliance and approval of third-party access. Be a change-agent and impact decisions within the department and the business lines you support. Assist with regulatory compliance risk assessments and related infrastructure enhancements.

Requirements

3+ years of related experience in Vendor Management or similar field.
Bachelor's degree or equivalent experience required; Bachelor's degree in related field preferred.
Entry level to intermediate knowledge of general banking or financial services is preferred.
Entry level to intermediate knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
Entry level to intermediate knowledge and skills of Microsoft Office Suite.
Experience using financial/quantitative data.
Entry level to intermediate experience working multiple, concurrent projects independently within standard accepted practices.
Intermediate speaking and writing communication skills, including demonstrated technical writing skills.

Responsibilities

Assess service engagements for risk as it relates to the Corporate Third-Party Management Policy.
Assist in the full life cycle for third party management processes from onboarding to managing existing third-party relationships.
Evaluate third-parties and build rating-based risk profiles.
Prepare audit documentation.
Facilitate due diligence questionnaires.
Obtain various approvals.
Assist with monitoring third-party compliance with federal regulations regarding technology, security, operations, and data protection.
Perform and coordinate the initial approval and renewal processes for the Company’s third-parties as well as their ongoing monitoring.
Coordinate the review and approval process for new third-parties initiated by the Business Relationship Owners (BRO).
Perform onboarding due diligence process for all new third-parties, including obtaining and reviewing references, background checks, financial statements, policies and other due diligence, as appropriate.
Facilitate Due Diligence Questionnaires (DDQ) and supplier checks (OFAC, D&B, etc.).
Contribute to cross functional teams monitoring third-party performance, contract, or risk.
Assist with third-party risk reviews, maintain current contracts, artifacts, and obtain applicable approval for any exceptions to the Third-Party Management Policy.
Facilitate contract review between business third-party management issues, and maintain third-party compliance and approval of third-party access.
Be a change-agent and impact decisions within the department and the business lines you support.
Assist with regulatory compliance risk assessments and related infrastructure enhancements.