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Lead for 4th Party Risk Management
2 months ago
Company:
Federal Reserve Bank of New York
Working at the Federal Reserve Bank of New York places you at the heart of the financial sector, providing a distinctive viewpoint on both national and global markets and economies. You will collaborate with a diverse team of seasoned professionals dedicated to ensuring the safety, stability, and vitality of our economic and financial systems.
Work Environment:
The Bank promotes work flexibility to harmonize professional and personal commitments while encouraging in-person collaboration with colleagues. Employees are expected to be present in the office a few days each week as necessary for meetings and teamwork, and should reside within a reasonable commuting distance.
About Us:
The Third-Party Risk Management (TPRM) Department at the Bank serves as a central hub for facilitating and supporting the lifecycle of third-party management, which encompasses planning, due diligence, contract oversight, continuous monitoring, and the termination of third-party relationships.
Your Role as the 4th Party Program Lead:
You will be responsible for the development, implementation, and administration of the Third-Party Risk Management 4th Party Program. This role focuses on assessing, identifying, mitigating, monitoring, and reporting on 4th party risks. Key activities include creating a standardized assessment methodology for 4th parties linked to the Bank's critical and high-risk third parties, conducting regular assessments, and monitoring various risks that could expose the organization to vulnerabilities.
Core Responsibilities:
- Facilitate the effective execution of the 4th Party Program by managing the identification, assessment, and mitigation of risks posed by significant third parties utilized by critical and high-risk third parties.
- Drive the lifecycle activities of Third-Party Risk to completion, including conducting assessments of TPRM Policies and Controls, engaging with subject matter experts, monitoring performance, and resolving identified issues related to 4th parties.
- Assist in the creation of communication and training materials, reference guides, and other documentation to support the evolution of the TPRM 4th Party Program.
- Support and monitor reporting requirements, including Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs).
- Contribute to the Bank's Resiliency initiatives related to Third-Party Risk, which may involve projects focused on the development and ongoing enhancement of 4th Party and other related projects as assigned.
- Stay informed about industry best practices and identify opportunities for continuous improvement of the TPRM program.
Qualifications:
- Proven experience in third-party risk management with strong collaborative abilities.
- Background in information security risk and third-party risk assessments is preferred.
- Experience in managing complex projects and processes.
- Demonstrated ability to influence policies, practices, and procedures.
- Strong focus on achieving goals and objectives through defined processes.
Salary Range: $185,000 per year
Our Core Values: The behaviors we value—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—shape the culture of the Bank and establish clear expectations for impactful leadership throughout your career.
Benefits:
- Fully funded Pension plan and 401k with generous matching.
- Comprehensive insurance plans (Medical, Dental, and Vision, including Flexible Spending Accounts and HSA).
- Subsidized public transportation program.
- Tuition assistance program.
- Onsite fitness and wellness center.
Note: This description is not an exhaustive list of all responsibilities, duties, performance standards, or requirements associated with the position. Management reserves the right to revise the job or require other tasks to be performed as circumstances change.
Employment Type: Full-time
Job Status: Regular
Exempt Status: Yes
Job Category: Risk Management
Work Shift: First (United States of America)
