Third Party Risk Management Specialist

1 week ago


New York, New York, United States Amalgamated Bank of NY Full time
Job Summary

The Third Party Risk Management Analyst plays a crucial role in the development and execution of the Bank's Enterprise Third Party Risk Management Program. This program aims to measure, monitor, assess, and report on the control of third-party vendor risk throughout the enterprise.

The ideal candidate will have a strong understanding of finance, risk management, and vendor management concepts. They will be responsible for interfacing and collaborating with third parties, Bank Departmental Management, and internal subject matter experts to collect, analyze, and document due diligence information in the onboarding of new vendors and the monitoring of existing vendors.

The Third Party Risk Management Analyst will utilize the Bank's third-party risk management software solution to ensure third-party information is accurate and up-to-date. They will also use this tool to manage assessment and collaboration on due diligence activities.

Key Responsibilities:

  1. Assist business stakeholders in best-practice guidelines for selecting third parties in line with policy and standards
  2. Follow established Third Party Risk Management program guidelines to complete onboarding of selected third parties
  3. Develop an understanding of the risks presented by third parties and determine their inherent risk profiles
  4. Develop expert-level awareness of third-party contracting requirements
  5. Ensure executed contracts are archived correctly in the third-party contract solution
  6. Participate in the collection of due diligence information in the initial and periodic monitoring of third-party vendors
  7. Prepare, conduct, and document assessments of audit reports provided by third parties
  8. Assist in the performance of vendor risk assessments and coordinate responses amongst subject matter experts
  9. Become proficient in the use of the third-party management solution
  10. Assist in the creation and modification of Third Party Risk Management Policies and Procedures
  11. Participate in the training and education of company staff in the vendor and third-party risk management processes

Requirements:

  1. Bachelor's degree in Business Administration, Finance, Accounting, or related field
  2. Preferred minimum of 1 year or internship in relevant risk/third-party management experience, paralegal, or related field
  3. Foundational knowledge of finance, risk management, and vendor management concepts
  4. Excellent analytical, project management, and problem-solving skills
  5. Strong interpersonal and communications skills
  6. Self-disciplined, proactive, and detail-oriented
  7. Proficient in MS Office Suite, particularly Excel and PowerPoint


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