TPRM (Third Part Risk Management) Analyst

Looking for TPRM (Third Part Risk Management) Analyst with 4-5 years of experience in Third Party Risk Management at mid level

Role & responsibilities

• Perform due diligence risk reviews of current and prospective third-party providers to assess their control structure and alignment to regulatory, federal/state guidelines and bank requirements and partner with internal stakeholders to make an assessment of the residual risk the third party presents to the bank.
• Manage timely completion of requests and follow-ups to third parties for appropriate documentation, and review and evaluate materials submitted.
• Partner with internal business units and third parties to inventory all services, status, performance and risk assessments.
• Coordinate and manage the due diligence risk assessment of third-party services by internal subject matter experts within the bank. Failure of proper assessments could result in immediate and significant financial, regulatory, legal or reputational loss to the bank.
• Complete a written assessment detailing third partys service inherent risk(s), strengths of risk scores, along with any risk gaps presenting elevated risk to the bank in order to document completion of the risk assessment activities. This requires frequent interaction with all levels of internal leadership, as well as external third parties.
• Oversee and confirm the resolution of any risk gaps identified during the risk assessment process.
• Will have to maintain a very strong knowledge of the many regulatory, investor, and bank subject matter expert requirements to ensure that each third party meets those requirements as applicable. Must be able to competently interpret and apply the requirements independently to mitigate risk to the bank.
• Contribute to various departmental projects related to third party management activities. This could be as a project lead or supportive role to an existing project.
• Work with internal business teams/units/sponsors to ensure their proper oversight of third parties and the services they perform through scorecard monitoring.
• Perform other duties as assigned

Good to Have Stakeholder Management, Contract/SOW Review experience, Scorecard Monitoring and Risk Certifications (CRVPM, CTPRP, CISA)