What are the responsibilities and job description for the Third Party Vendor Risk Analyst - Onsite, NY position at Brandon Consulting?
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DEPARTMENT RESPONSIBILITIES: Third-Party / Vendor Risk Management (VRM) is responsible for overseeing the Client Financial Services Third-Party / Vendor Risk Management program. VRM is a structured and independent function that helps the organization identify, assess, and manage risks associated with third-party vendors. VRM aims to prepare for and control third-party risks, while also preventing disruptions to business performance. The function is also responsible for leading risk assessments of vendors and associated services, including due diligence and documentation. ROLE
RESPONSIBILITIES:
Ability to manage an inventory of vendors and associated services.
Facilitate onboarding of new vendors and conduct reviews of existing vendors.
Facilitate, review and challenge vendor risk assessments conducted by business and functional areas.
Provide Monthly and Quarterly Risk Management reporting and Vendor Risk Management metrics Assist Firm by supporting and providing oversight to the first line of defense through various operational risk and third-party / vendor risk programs.
Responsible for understanding and assessing business and functional operations regarding Third
Party / Vendor Risk, identifying issues, opportunities, and collaboration to discover appropriate solutions.
Ensure effective implementation operational risk and third-party / vendor risk management programs to identify, measure, monitor, manage and report risks.
Assist in identifying and evaluating risk areas across the Firm's operational activities and the development of processes and controls to mitigate such risks.
Maintain, develop, and prepare documentation for risk management; including risk policies, procedures, and reporting.
Investigate root causes of operational risks and provide support to mitigate risk.
Conduct training on third-party risk management programs and policies.
Provide regular management reporting and status updates on Third-Party / Vendor Risk programs. Assist Legal department with Contract Management.
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