AVP, Third Party Risk Management

Office Status: On-Site
Salary: $100,000 – $150,000

Responsibilities:
• Establish and enhance the Third Party Risk Framework, ensure it consists of appropriate components to effectively manage third party risks.
• Update third party risk management policies and procedures.
• Develop and execute a third party risk annual work plan to review and challenge risk identification, assessment, control evaluation and testing activities.
• Utilize a consistent risk rating methodology for controls that aligns with the Operational Risk Framework
• Conduct periodic risk assessment of third party risks
• Assess, monitor and track third party risk management lifecycle activities as second line of defense.
• Provide third party risk management guidance to First Line Units (“FLUs”).
• Ensure the completeness of the central documentations of the bank wide third party population.
• Prepare aggregated third party risk report.
• Keep abreast of current industry tools, trends, and regulatory requirements.
• Work with other SMEs under the third party risk management framework to ensure the third party risk management activities are efficient.
• Ensure third party risk management system is implemented and all updates are installed timely.
• Provide timely training of system upgrades or updates to all system users.
• Assist with new product management risk assessment process.
• Assist with RACA quarterly review in the expertise of third party risk management.