Third-Party Risk Management Operations Vice President
4 days ago
Third-Party Risk Management
Operations Vice President
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 Monitor daily activity to identify due diligence requests which need to be sent to vendors, requests which require follow-up or escalation, and documentation received and awaiting completeness review Track progress of the assessment up to the point of a summary of the risk assessment for Functional Executives Provide effective guidance and coaching to team members on operational matters Support ongoing monitoring activities like periodic refreshes and re-assessments Escalate requests with vendors including new requests and follow-up requests 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 (15+ 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 Prior experience with People Management 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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