Third Party Risk Management Specialist

1 week ago


Los Angeles California, United States City National Bank Full time

Position Overview:

THIRD PARTY RISK MANAGEMENT SPECIALIST


WHAT IS THE ROLE? This position is integral to the Vendor Management Office at City National Bank, focusing on comprehensive evaluations and oversight of third-party risks across the organization.

The individual in this role will be responsible for conducting thorough risk assessments of third-party vendors, ensuring that all evaluations are systematically organized, executed, reviewed, and documented. A key aspect of this position involves tracking the completion of risk remediation plans. The Vendor Management Office was established to uphold the framework for managing third-party risks effectively.


Key Responsibilities:
1. Facilitate comprehensive risk assessments for initial due diligence and ongoing oversight of third-party vendor services.
2. Collect necessary documentation and perform analyses, including the assessment of risk questionnaires and review of audited control reports (e.g., SSAE18, SOC Type II, PCI AoC/RoC) to support a complete evaluation of outsourcing risks.

3. Collaborate closely with internal stakeholders (e.g., Information Security, Enterprise Risk Management, Business Continuity, Credit Administration, and Compliance) to assess third-party service providers.

4. Document and track remediation efforts for significant supplier risks until resolution.

5. Monitor and report on the progress of supplier risk management activities, including tracking issues, remediation efforts, and generating monthly and quarterly status reports with key supplier metrics.

6. Assist in the preparation and documentation of various reports, such as vendor scorecards and ongoing monitoring artifacts.

7. Conduct data analysis related to vendor and contract information and maintain accurate records in relevant systems.

8. Promote the enterprise Vendor Management objectives throughout the organization; provide training and guidance to internal staff on vendor management processes.

9. Raise issues (e.g., delays, significant gaps, uncooperative parties) to management as necessary and work towards resolution.

10. Support various ad hoc projects aimed at enhancing programs, improving processes, and fulfilling other organizational functions.

Qualifications:
* A minimum of 4 years of experience in third-party risk management within the financial services sector, with a focus on conducting risk assessments and reporting on Key Risk Indicators (KRIs).

* At least 3 years of experience in identifying risks and controls, scoping assessments, and performing assurance testing.

* A minimum of 2 years of experience working with Governance, Risk, and Compliance (GRC) systems, with a focus on continuous improvement.

Skills and Expertise:
- In-depth knowledge of third-party risk management processes and methodologies.
- Familiarity with the lifecycle of third-party risk management: planning, due diligence, contracts, ongoing monitoring, and termination.
- Experience utilizing third-party risk management/GRC systems.
- Proficiency in handling contracts, including master service agreements and statements of work.
- Industry-recognized certification in third-party risk management or vendor management.
- Six Sigma certification is a plus.
- Experience in assessing cloud service arrangements.
- Strong project management capabilities, including organization, planning, reporting, and documentation.
- Excellent analytical skills with the ability to work with data and derive meaningful conclusions.
- Exceptional oral and written communication skills, capable of engaging with all management levels and producing both detailed and executive-level documentation.
- Advanced proficiency in Microsoft Office applications, particularly Excel and PowerPoint.

Compensation:
Starting base salary ranges from $87,027 to $138,965 annually, with variations based on skills, experience, and location. This position is eligible for bonuses and/or commissions.

Benefits and Perks:
At City National Bank, we are committed to providing our colleagues with exceptional benefits and perks.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT:
City National Bank is an equal opportunity employer dedicated to fostering diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other legally protected status.



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