What are the responsibilities and job description for the Risk Management Third Party Lead - BIS position at City National Bank?
RISK MANAGEMENT THIRD PARTY LEAD - BIS
WHAT IS THE OPPORTUNITY? This position will have responsibility for executing ongoing oversight of Third Party Risk Management (TPRM) activities and related activities of the assigned department within Banking & Investment Services. Assists with monitoring and testing of third party controls and influencing controls. Coordinates third party risk assessments,and tracks outstanding items to conclusion. Provides risk management expertise on behalf of assigned department while working with Division Risk Managers and other second line risk partners to include Vendor Management Office, Operational and Enterprise Risk Management teams, Regulatory Compliance, Business Continuity, IT Risk, etc.
What you will do
- Perform Third Party Risk Management (TPRM) activities include reporting Key Risk Indicators (KRIs), Third-Party Risk Assessments, support control testing, and development of action plans with tracking of follow-up items with vendor contract owners
- Act as subject matter expert for the activities performed in the respective division and their associated risk exposures.
- Assist the Third Party Risk Manager with end to end process development and evaluation.
- Liaise with key business partners including ORM, ERM, TPRM, and VMO to streamline processes to drive risk assessment efficiencies.
- Assist in building Third Party risk metrics for various Risk Committee.
- Assist / represent the Risk Owners / Business Units during auditory examinations, both internally and externally.
- Adhere to a consistent approach in executing key program components for all operational risks, including Risk and Control Self Assessments (RCSA's), Key Risk Indicators (KRI's), Issue Management and Operational Losses.
- Support and assist in the development of Business Unit Policies and Procedures.
- Ensure business / strategic plans are consistent with the Risk Appetite Framework and Division risk Limits.
- Train and facilitate risk owners in risk assessment completion, annual re-evaluations, and the vendor risk profile rating.
- Assist in developing actionable Third Party risk management activities and help design a preferred vendor list for the B&IS division.
- Coordinate the creation of Third Party Risk metrics to include but not limited to aging issues, closed issues, average time of resolution, and number of vendor risk acceptances.
- Support the reporting of performance metrics and Key Risk Indicators to monitor vendor related high issues to the business. Provide root cause analysis on all breaches to identify gaps and assist with remediation efforts.
- Report large or repetitive vendor risk events impacting the Division to assess the banks exposure.
- Stays abreast on specific reporting standards, department reporting requirements and bank system changes / enhancements.
- Work collaboratively within their respective Business Unit to coordinate risk management and measurement activity.
- Assist with research and special projects as needed.
- Promotes vendor risk awareness throughout the Business Unit.
Must-Have
Skills and Knowledge
Compensation Starting base salary : $92,114 - $156,880 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and / or commissions.
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
ABOUT CITY NATIONAL We start with a basic premise : Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.
Salary : $92,114 - $156,880
