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Third Party Risk Management Specialist
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Amalgamated Bank of NY is seeking a highly skilled Third Party Risk Management Analyst to support the development and execution of the Bank's Enterprise Third Party Risk Management Program. The successful candidate will be responsible for measuring, monitoring, assessing, and reporting on the control of third-party vendor risk throughout the enterprise.
Key Responsibilities- Third Party Risk Management: Assist business stakeholders in selecting third parties in line with policy and standards, and complete onboarding of selected third parties, including the completion of appropriate forms, questionnaires, and due diligence documentation.
- Risk Assessment and Due Diligence: Develop an understanding of the risks presented by third parties, determine their inherent risk profiles, and identify the required due diligence information for each third-party relationship.
- Contract Management: Ensure executed contracts are archived correctly in the third-party contract solution and in supporting electronic archives.
- Vendor Monitoring and Assessment: Participate in the collection of due diligence information in the initial and periodic monitoring of third-party vendors and ensure its appropriate archiving.
- Audit and Compliance: Prepare, conduct, and document assessments of audit reports provided by third parties (SOC reports) and assist business users in the review, documentation of controls, and testing exceptions.
- Vendor Risk Assessments: Assist in the performance of vendor risk assessments and coordinate responses amongst subject matter experts.
- Process Improvement: Contribute to projects and initiatives supporting the improvement of third-party risk management processes.
- Education: Bachelor's degree in Business Administration, Finance, Accounting, or a related field.
- Experience: Preferred minimum of 1 year or internship in relevant risk/third-party management experience, paralegal, or related field; recent graduates welcome.
- Skills: Foundational knowledge of finance, risk management, and vendor management concepts; excellent analytical, project management, and problem-solving skills; strong interpersonal and communications skills, with the ability to professionally communicate both verbally and in writing.
