What are the responsibilities and job description for the Third Party Risk Manager position at International Bank?
Looking for a Third-Party / Vendor Risk Management (VRM) Specialist for a global financial services company in NYC.
This role is responsible for overseeing the client's 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.
- 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.
- Must have prior experience independently managing Third-Party /Vendor Risk programs.
- Organizational skills with great attention to detail.
- Excellent written and verbal communication skills, with an ability to persuasively communicate complex issues.
- Must have excellent proficiency in MS Excel.
- Ability to analyze problems and formulate conclusions.
- Knowledge of Equity and Fixed Income Clearing, Securities Lending and Financing products is a plus.
- Within the defined area of responsibility ensure the following as it pertains to the position and where applicable:
Risk Management:
- Perform due diligence in daily job to monitor risks and to prevent risk events from
- occurring. Manage daily responsibilities within risk governance framework, and policies and procedures of the firm. Take responsibility for identifying and reporting any risks.
- Possesses the appropriate risk management and internal control capabilities/skill set for the position.
Compliance & AML:
- Perform daily role in line with the Company's policies, procedures, WSPs and in compliance with applicable rules, laws and regulations to avoid and/or mitigate any regulatory risks.
Job Type: Contract
Pay: $40.00 - $50.00 per hour
Benefits:
- Health insurance
Schedule:
- 8 hour shift
Experience:
- Vendor management: 1 year (Preferred)
Work Location: In person
Salary : $40 - $50