
Senior Third-Party Risk Management Specialist
7 days ago
Third Party Risk Professional Manager
Job Description:Key Responsibilities include Conducting comprehensive third party risk assessments for new and existing vendors across the organization. Preparing detailed and summary reports of assessments, including customized reports tailored to specific business needs. Serving as a Subject Matter Expert (SME) in third party risk, collaborating with Operational Risk, IT, Law, Privacy, Compliance, Sourcing, and Treasury to develop and apply risk assessment criteria aligned with corporate policy.
Partner With Internal Stakeholders- Identify and mitigate operational risks in business processes, applications, and systems tied to third party relationships.
- Ensure integration and compliance of third party risk management lifecycle elements in collaboration with IT, Sourcing, and Legal teams.
- Review vendor contracts, assess redlines, and make informed decisions on approval or rejection based on risk exposure.
- Identify and measure risks in business areas and workflows, performing due diligence to ensure effective vendor risk identification and mitigation.
- Advise business partners on risk mitigation strategies aligned with organizational risk appetite and tolerance.
- Engage directly with vendors to assess security controls, ensuring adequate protection of sensitive data and systems.
Tools & Technology Proficiency: Utilize tools such as MS Office (e.g. Word, Excel, PowerPoint, Visio), ServiceNow, and GRC platforms (e.g., Archer) to support third party risk assessments, reporting, and workflow management.
Knowledge & Expertise:
- Deep understanding of third party risk management, vendor oversight, and security control frameworks.
- Familiarity with industry standards and regulatory frameworks : ISO, COBIT, COSO, SOX, Basel II, GLBA, HIPAA, and business resiliency practices.
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