Third Party Risk Manager

Description

This position is remote with occasional travel to in person meetings in Richmond, VA.

Third-Party Risk Manager

The Manager of Third-Party Risk will lead the day-to-day activities of the Third-Party Risk Management (TPRM) Program, working under the guidance of the Director of TPRM. They will facilitate each phase of the TPRM lifecycle for all stakeholders, including relationship owners, risk domain subject matter experts (SMEs), and vendors. They will drive the TPRM program towards consistent execution and continuous improvement.

Responsibilities:

· Lead the execution of each phase of the TPRM lifecycle according to the TPRM Policy and Procedures. 

· Maintain the Bank’s TPRM Policy and Procedures, making updates in response to process changes, changes in the Bank’s risk profile, regulatory guidance changes, etc. as appropriate.

· Create new and maintain desktop procedures and job aides as needed.

· Maintain the Bank’s inventory of third parties, including performing controls over its completeness and accuracy and creating reports.

· Facilitate intake of new third-party requests, using critical thinking to understand the goals of the business and the expected nature of the relationship with the third party.

· Manage the request, collection, and review of due diligence materials, collaborating with third-party contacts, the relationship owner, and the risk domain SMEs.

· Provide effective challenge on due diligence review and risk assessments.

· Review contracts and capture key data for contract management.

· Maintain and execute the ongoing monitoring schedule for the TPRM inventory.

· Facilitate the termination of third-party products, services, and relationships. 

· Develop and use checklists and other quality control measures, as needed, to ensure documentation is properly completed and stored.

· Update and administrate Monday.com boards and other systems of record. 

· Create status reports and memos across TPRM systems and using MS Word, PowerPoint, and Excel.

· Monitor the effective operation of the TPRM program, along with industry leading practices, to identify opportunities for improvements.

· Communicate clearly and factually to stakeholders, including explaining and training the TPRM program. 

· Support internal and external audit requests, risk assessments, and regulatory exams.

· Perform other duties as assigned.

· Be a good teammate.

· Live the company's core values.

Requirements

Basic Qualifications:  

· Bachelor’s degree in Business, Finance, Risk Management or a related field

· 7 years of Banking industry experience

· Basic familiarity with banking products and services

· Basic familiarity with different domains of risk

· Basic familiarity with industry compliance standards and regulations

· Knowledge of risk and controls fundamentals

· Experience working with vendors/third parties

· Ability to read and understand a contract

· Technology native – comfortable adopting and improving workflows within a system

· Experience with creating policies, procedures, job aides, and training materials

· Strong computer skills relevant to Microsoft Office (e.g., Word, Excel, PowerPoint, Teams). 

· Experience comparing data sets in MS Excel and using Excel functions

· Strong communication skills. 

· Strong organizational skills and attention to detail. 

· Strong decision-making/problem resolution skills. 

Preferred Qualifications:  

· Advanced studies in Risk Management, Vendor Management, and/or Banking

· 5 years of Risk Management experience 

· 5 years of experience with Third Party Risk, Vendor Management, or Procurement  

· Certification such as PMP, C3PRMP, CBAP, CRISC, CRVPM, VRMP

· Experience configuring enterprise software 

· Experience using query builders, pivot tables, or other report generation methods

· Executive presentation skills