Third Party Risk Management Operations

1 month ago

Mumbai, India State Street Full time

Role Summary

State Street uses third parties to support internal processes and in the delivery of certain products and services to clients. These third parties are evaluated, and risk assessed through our Third-Party Risk Management (TPRM) Program. The Third-Party Risk Management Operations Vice President will support the Head of TPRM Operations to monitor and evaluate the progress of daily TPRM operations and help improve productivity and internal SLA compliance which also entails building a strong productivity metrics to monitor the program effectiveness. Primary responsibilities will include monitoring daily activity, due diligence outreaches, tracking timeliness of suppliers’ response to due diligence, evaluating the completeness of diligence once returned and tracking the due diligence efforts to completion. The successful candidate should be able to effectively communicate with vendors and internal stakeholders, be alert to inconsistencies in information received and initiate communications with key stakeholders and business partners and guide them towards successful resolution of the items raised.

Job Duties and Responsibilities

Develop and maintain an understanding of State Street’s business lines and the products & services offered

Support Head of TPRM Operations in ensuring timely and effective delivery of program operations

Support Head of TPRM Operations to ensure effective execution of processes and making sure to employ the highest standard of controls

Daily execution of program operations including but not limited to inherent risk assessments, supplier due diligence, risk posture communication to Business Heads, financial viability, adverse media screening, SOC reports review, SOX compliance

Efficiently manage any escalations and time sensitive supplier onboarding

Initiate communications with key stakeholders for inconsistencies identified and follow through to successful resolution

Leverage subject matter expertise to employ credible technical and professional best practices to achieve tangible enhancements within TPRM program operations

Provide MI and analytics from a risk, supplier management, outsourcing, and criticality perspective; support effective governance arrangements

Enhance key performance indicators, Monitor SLAs; identify opportunities for process efficiencies

Interface with key functions and stakeholders to provide support and drive process improvement across the program operations

Support emerging TPRM program requirements in view of the evolving regulatory landscape

Support in audits and regulatory inspections

Skills

Proven subject matter expertise with first-hand experience of improving aspects of third-party risk management in large, complex organizations.

Proven capability to network, communicate, influence and supporting stakeholders

Excellent written and verbal communication skills, with the ability to influence stakeholders at all levels

Ability to multi-task and operate in a fast-paced, deadline-oriented environment.

Strong organizational and time management skills, ability to work independently, prioritize including when under pressure and to tight deadlines

Must be self-motivated, adaptable and demonstrate initiative in difficult circumstances

Proven ability to identify problems and work to successful resolution

Possess a strong customer centric mindset

Demonstrate a willingness to support change and initiatives within the TPRM Program

Innovative and critical thinking

High ethical standards

Qualifications

Overall work experience within financial services sector (18+ years)

Management Graduate from an institute of repute preferred

Prior experience in risk management roles in large multi-national banks

Prior experience of 10+ years with third-party risk management in large multi-national banks

Subject matter expertise and proven track record in managing third party risks

Strong working knowledge of Microsoft Office products, including Word, PowerPoint and Excel

Risk Management certification good to have - CRISC, CISM, CRVPM

Prior experience with Archer / RSA platform is preferred

*Please note: Role is required to support internal clients during first half of US hours

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