Third-Party Risk Management Specialist

4 weeks ago


Frederick, Maryland, United States Horizon Farm Credit Full time

Job Title: Third-Party Risk Management Manager

Job Summary:

Horizon Farm Credit is seeking a highly skilled Third-Party Risk Management Manager to join our team. As a key member of our organization, you will be responsible for leading our Third-Party Risk Management program, ensuring the integrity of our operations and safeguarding our company's reputation.

Key Responsibilities:

  • Maintain a risk-based framework for TPRM, prioritizing critical vendors that pose the greatest threat to HFC's business objectives.
  • Provide thought leadership to continuously improve and streamline the framework, aligning with risk vs. reward principles and applicable laws and regulations.
  • Maintain a comprehensive inventory of third-party vendors, cataloged by commodity, engagement, service criticality, risk, and other key attributes to oversee critical vendors supporting essential business processes.
  • Conduct risk-based due diligence across key areas, including information security, geographical factors, compliance, financial viability, and resilience.
  • Implement ongoing monitoring capabilities to track changes in vendors' risk profiles, regularly reviewing and updating risk assessments based on changes.
  • Develop clear and concise reports highlighting key risk metrics and insights for business leadership, facilitating informed decision-making and heightened awareness of potential threats.
  • Proactively identify and escalate risks associated with vendor concentration and dependencies, as well as risks from fourth-party relationships, ensuring appropriate actions are taken to mitigate exposures, including adequate contingency planning.
  • Develop and deliver educational, awareness, and training programs to enhance understanding of third-party risks among key stakeholders and business leadership, empowering them to make risk-informed decisions.
  • Manage and develop correspondence with vendors regarding RFPs, RFQs, pricing and contract negotiations, and contract/service management.

Requirements:

  • Bachelor's degree in IT, Business Administration, or related field.
  • Generally, 5 or more years of related experience within Insurance, Banking, or Asset management is preferred.
  • Strong understanding of the TPRM life cycle, including vendor onboarding, due diligence, ongoing monitoring, and offboarding.
  • In-depth understanding of third-party vendor risks, including cyber, operational, and financial risks.
  • Strong leadership skills with the ability to influence, motivate, and lead others, including those in other departments.
  • Ability to discern and measure business-relevant risk from third-party risks and issues, and to identify cost-effective remediation options.
  • Excellent oral and written communication skills for communicating to management, internal audit, and user community.
  • Ability to identify regulatory compliance gaps within internal guidance (policies and procedures).
  • Strong organizational skills, problem-solving skills, project management skills, and the ability to adapt to a changing work environment and work independently.

What We Offer:

  • Competitive compensation and benefits packages for full-time employees.
  • Medical insurance with dental and vision care options.
  • 401(k) with significant employer matching.
  • Paid time off, holidays, and volunteer time to support work/life balance.
  • Tuition reimbursement and training opportunities.
  • Student loan reimbursement.
  • Leadership and career development opportunities.
  • Paid maternity and bonding leave.
  • Paid short-term disability.
  • Fun and inclusive work environment.

Salary Range: $93,000 - $116,300 depending on experience.

Horizon Farm Credit is an equal opportunity employer, including veterans and individuals with disabilities.



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