VP Third-Party Risk Management - GM Financial Bank

GM Financial•Cottonwood Heights, UT

23h•Hybrid

About The Position

GM Financial Bank is a newly formed bank that will offer auto finance and deposit products. Joining GM Financial Bank means an opportunity to help build a customer-focused bank from the ground up. The VP of Third-Party Risk Management leads the design, implementation and evolution of the Bank’s service provider governance framework. This leadership role serves as a subject matter expert in 2nd Line oversight of services provided to the Bank by third-parties, including affiliates. They will partner across business lines to ensure the overall effectiveness of third-party relationships, compliance with regulatory requirements and adherence to the Board of Directors’ policies, strategic goals and risk appetite.

Requirements

Subject Matter Expert level knowledge or experience in: Third-party risk identification, criticality assessment and controls testing, Interagency Guidance on Third-Party Relationships, FFIEC Third-Party Oversight handbook, Federal Reserve Board Regulation W.
Ability and willingness to learn and utilize multiple business analytics reporting platforms (such as Archer and Microsoft Power BI) and assistive technologies (such as Microsoft Copilot).
Effective written and verbal presentation skills with an ability to confidently communicate with senior management and business line peers.
Capable of managing multiple and varied assignments, including ability to balance numerous tasks in a time-sensitive environment, under pressure and meeting deadlines while maintaining a big picture perspective.
Ability to interact collaboratively and proactively with third-party representatives, internal and external auditors and federal and state bank regulators.
10+ years experience in related risk management, auditing or banking regulation.
7-10 years management or leadership experience.
5-7 years experience in third-party management at a US federally regulated financial institution.
Experience in dealing with multiple business units, executive leadership and a diverse employee population in financial services.
Bachelor’s degree in Finance, Economics, Mathematics, Business Administration, Business Analytics, MIS or other quantitative fields (degrees in non-quantitative fields considered with adequate work experience).

Responsibilities

Design, implement and maintain a third-party risk management framework including, but not limited to: A current inventory of all third-party relationships and contracts, A comprehensive risk assessment to identify and assess all risks associated with third-party relationships (including dependency on a single provider for multiple activities), A program for periodic independent monitoring of business lines’ use of third-party relationships including planning, due diligence, contract negotiation, and ongoing monitoring activities, Consistent independent monitoring of all affiliate transactions to ensure compliance with the limitations addressed in Regulation W, Recurring reporting for the Board of Directors, executive committees, auditors and regulators regarding the quality and sustainability of third-party relationships including key risk indicators, limits and thresholds, risk profile and risk appetite, A process for escalation of significant issues or concerns, such as material or repeat audit findings, deterioration in financial condition, security breaches, data loss, service interruptions, compliance lapses, customer complaints or other indicators of increased risk.
Partner with business lines, including Compliance and Information Security, to: Review and document service provider performance, Test and confirm the quality and sustainability of service provider controls, Assess operational resiliency and ability to meet contractual obligations.
Integrate the third-party risk management framework with the bank-wide Enterprise Risk Management program.
Conform with all company policies and procedures.