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Purpose of Position:

The Third Party Risk Management Analyst supports the Third Party Risk Management Team in the development and execution of the Bank’s Enterprise Third Party Risk Management Program to measure, monitor, assess and report on the control of third party risk throughout the enterprise.

Responsibilities include interfacing and collaborating with third parties, Bank Departmental Management, and internal subject matter experts to collect, analyze and document due diligence information in the onboarding of new third party engagements and the ongoing monitoring of existing engagements. The Third Party Risk Management Analyst utilizes the Bank’s third party risk management software solution in the course of their duties to ensure third party information is accurate and up-to-date, and as a tool to manage assessment and collaboration on due diligence activities.

Essential Job Functions:

+ Guide business stakeholders in best-practice guidelines for selecting their preferred third parties in accordance with Enterprise Third Party Risk Management policy and standards.

+ Follow established Enterprise Third Party Risk Management procedures to complete onboarding of selected third parties, including the completion of appropriate forms, questionnaires and the provision of required due diligence documentation.

+ Develop an understanding of the risks presented by third parties, the determination of their inherent risk profiles and the appropriate due diligence information required for each third party engagement.

+ Develop expert-level awareness of third party contracting requirements.

+ Ensure executed contracts are archived correctly within the third party risk management solution and supporting electronic archives.

+ Participate in the collection of due diligence information in the initial and periodic monitoring of third party providers and ensure it is appropriately archived.

+ Prepare, conduct and document assessments of audit reports provided by third parties (SOC reports) and assist business users in the review, documentation of controls and testing exceptions.

+ Assist in the performance of third party risk assessments and coordinate responses amongst subject matter experts.

+ Become proficient in the use of the third party management solution that serves as the repository for third party contracts and due diligence documentation, the tool for monitoring, assessing third party engagements and reporting on the status of the Third Party Risk Management Program.

+ Assist in the creation, modification, and maintenance of the Enterprise Third Party Risk Management Policy and Procedures.

+ Participate in the training and education of company staff in the Third Party Risk Management Program, processes, lifecycle, and delineation of responsibilities between 1LoD and 2LoD.

+ Contribute on projects and initiatives supporting process improvement and enhancement of third party risk management processes as needed.

+ Perform other duties as directed.

Knowledge, Skills and Experience Requirements :

+ Bachelor’s degree in Business Administration, Finance, Accounting, business-related degree or minimum of 2 years third party risk management industry experience.

+ At least 1-2 years exposure with various security frameworks. Any AI or machine learning is preferred.

+ Preferred minimum of 1 year or internship in relevant risk/third party management experience, paralegal or related field; Recent graduate’s welcome.

+ Foundational knowledge of finance, risk management, and third party risk management concepts.

+ Excellent analytical, project management, and problem-solving skills.

+ Strong interpersonal and communications skills, with ability to professionally communicate both verbally and in writing.

+ Self-disciplined (ability to work independently), proactive and detail oriented.

+ Proficient in MS Office Suite, particularly Excel and PowerPoint

+ Knowledge and proficiency with Governance, Risk, and Compliance (GRC) systems is highly appreciated.