Third Party Risk Management, Issue Management

2 weeks ago

Bengaluru, India State Street Full time US$ 1,50,000 - US$ 2,00,000 per year

Job Description

The Vice President of Issue Management in Third-Party Risk Management will lead the oversight and improvement of issue management framework to mitigate risks associated with third-party vendors. This role requires a strategic thinker with expertise in risk management, compliance, operational excellence, cyber security, and team leadership to ensure the organization's risk exposure due to third-party relationships is managed as per risk appetite and regulatory expectations.

What you will be responsible for

  • Issue Management:   Implement a robust issue management framework for third party risk. Establish and enhance standards, methodologies, and controls to manage issues identified as part of third party due diligence.

  • Stakeholder Management: Build and maintain strong relationships with business and risk SME stakeholders. Facilitate effective communication and collaboration among risk assessors, business, Information Security Officers and third parties. Act as the primary point of contact for third party issue escalations and resolutions.

  • Process Improvement:  Lead initiatives to streamline issue management processes.  Identify opportunities for automation and operational efficiency. Implement industry best practices and drive continuous improvement initiatives in third party risk management processes.

  • Team Leadership:  Assist in managing and mentoring a high-performing team responsible for issue management and third party risk management. Foster a collaborative, innovative, and results driven team culture.  Provide guidance, training, and development opportunities to team members.

  • Compliance:  Ensure compliance with relevant policies and standards.

  • Reporting & Analytics: Develop and maintain dashboards and reports to monitor open / past due issue metrics. Present findings and recommendations to senior leadership.

Qualifications

  • Bachelor's / Master's degree in Business, Risk Management, or a related field

  • 14+ years of experience in risk management, issue management, or related roles.

  • Strong understanding of third party risk management frameworks and information security requirements (must).

  • Proven leadership and project management skills

  • Excellent communication and stakeholder management abilities

Preferred Skills:

  • Certification in risk management and information security (e.g., CRISC, CTPRP).

  • Experience with Six Sigma or other process improvement methodologies.

  • Familiarity with vendor management tools and technologies.

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