The Third Party Risk Management (“TPRM”) department identifies, measures, monitors and reports risks presented to the organization by third parties through several phases: onboarding/off-boarding, risk assessments, monitoring and issue management, and reporting.
The Associate Principal will provide critical support to Third Party Risk Management by completing risk assessments, mitigation support, as well as preparing management reports. The Associate Principal will be working across multiple lines of business to assist with TPRM efforts to monitor and manage Third Party Relationships in compliance with TPRM procedures. In this role, they will have governance and oversight responsibilities to ensure third parties are properly assessed. In addition, the Associate Principal shall lead special projects as assigned.
Primary Duties and Responsibilities:
Establish and maintain partnerships with internal and external stakeholders to ensure effective collaboration to identify, measure and manage Third Party risks and controls
Assist in coordination with key stakeholders across multiple departments to initiate, scope and plan Third Party risk assessments of new and existing Third Party engagements (Vendors, FMU’s, Exchanges, Clearing Members, Banks & other third parties)
Complete Third Party risk assessments and ensure quality of work performed by other analysts
Oversee risk-based analysis, such as communication of identified risks to key stakeholders, organizing remediation action plans, and track and monitor identified Third Party risks to closure
Oversee planning, due diligence, monitoring and offboarding of Third Party services
Assist with the creation and development of standardized reports, templates and scorecards used to inform management on Third Party risks
Present Third Party findings to various levels of leadership
Maintain an up to date understanding of emerging financial, operational, Third Party and regulatory/compliance related information to contribute to the continuous improvement of the Third Party risk management program
Enhance and contribute to Third Party Risk strategies, tools, and methodologies to measure, monitor, and report risks
Develop and maintain job aids in support of TPRM procedures
Assist with TPRM training
Assist with regulatory and audit requests
Lead special projects as assigned
Ability to anticipate, draw conclusions, and adapt to changing needs and demands
Prior Third Party Risk Management, Audit or Enterprise Risk Management experience
Excellent verbal, written and interpersonal communication skills, including the ability to communicate effectively with all levels of staff and management
Strong analytical skills, problem solving, strategic thinking and reasoning abilities
A high degree of integrity, professionalism, and capacity to excel in a cohesive team environment
Ability to work independently on projects with little oversight or as part of a team
Detail oriented with the ability to multitask and quickly adapt to changing assignments
Education and/or Experience:
Bachelor’s Degree (or equivalent)
Master’s Degree (preferred)
At least 5 years of experience in Risk Management, Third Party Risk, Auditing or the equivalent
Comprehensive knowledge of Third Party Risk Management processes and methodologies
Certificates or Licenses:
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OCC is an Equal Opportunity Employer