Senior Compliance Risk Manager – Vendor Management

Overview

The responsibilities of this position include leading and executing an effective Vendor Management Program that monitors whether third-party vendors adhere to internal and external policies and procedures, laws, and regulations. This position serves as the liaison between Enterprise Risk Management and Fair and Responsible Banking and Compliance (FRBC) to perform third-party risk assessments and analyze the risk level of third-party engagements, both for new and existing vendors (as part of the ongoing review and update cycles). Additionally, the position will be responsible for analyzing due diligence documentation to arrive at risk assessment ratings against the Bank's risk methodology, and in accordance with regulatory and industry standards. Lastly, this position will be responsible for authoring risk narratives to effectively communicate key risks identified and provide an explanation for the risk rating(s) assigned.

Responsibilities

• Crosstrain/develop team and review vendor management reports
• Attend New Products and Service Committee and Third-Party Vendor Management working group, and provide recommendations on compliance related matters
• Develop and maintain FRBC Vendor Management program, procedures, and checklists
• Provide guidance to the Vendor Relationship Owners regarding FRBC matters
• Provide reporting related to Third-Party monitoring activities and vendor inventory.
• Escalate any issues identified with Third-Party relationships to the proper governing body(ies).
• Remain current on business line products, services, and processes, distribution channels, geographies, organizational structures, and related regulatory requirements.
• Maintain appropriate knowledge of and stay current on compliance laws and regulations, guidance, and other legal and regulatory developments, and how they apply to the Company and assigned business lines.
• Stay abreast of regulatory changes impacting vendor management
• Oversee Vendor Management team in reporting, system review, vendor assessments, and new product and service reviews.

Qualifications

• Bachelor’s degree in Law, Economics, Finance, Public Administration or Business or relevant work experience.
• At least 4 years’ banking experience in vendor management in a compliance related role
• Advanced knowledge of consumer protection laws and regulations impacting financial institutions with demonstrated proficiency in applying these principles
• Ability to manage and provide compliance related oversight to multiple business lines
• Thorough knowledge of banking operations
• Strong knowledge of Microsoft applications, primarily Excel, Teams, PowerPoint, Outlook, Access, SharePoint, Word and other database analysis and reporting tools
• Demonstrated skills in critical thinking, attention to detail, interpersonal, problem solving, and analytical skills
• Excellent verbal and written communications skills, and ability to interface with senior management
• Highly proficient in time management, planning, and prioritization
• Ability to work in fast-paced, changing environment and meet deadlines with strict timeframes
• Ability to work on and track multiple tasks and priorities
• Highly motivated with the ability to be proactive, take initiative, carefully monitor, follow through, and complete projects/responsibilities in a professional and timely fashion
• Excellent interpersonal and communication skills, with the ability to engage confidently and effectively with staff and management at all levels
• Ability to exercise sound judgment and work independently

Preferred Skills

• Advanced degree is strongly preferred
• Process development experience
• Strong project management skills are a plus
• Certified Regulatory Compliance Manager (CRCM), Certified Internal Audit (CIA), or other Compliance/Audit Certifications 

Physical Requirements/Working Conditions: Must be able to sit for long periods of time and use computer keyboard and/or mouse, while viewing computer screens.

Note: This is a brief description of this position and is not limited to those described herein. Management retains the right to add, delete or modify any of these responsibilities at any time during employment.