Risk Analyst

4 days ago

Honolulu, HI, United States Central Pacific Bank Full time
Position Function:

Conducts due diligence and supports ongoing monitoring of vendors in the successful execution and maintenance of the Bank's Vendor Management Program (VMP).

I-II:

A Risk Analyst I/II is expected to develop job knowledge and complete tasks with moderate/limited supervision and guidance from the Manager.

Senior:

Provides guidance and leadership to junior team members, product managers and other colleagues in the execution of VMP responsibilities. A Senior/Lead Risk Analyst is expected to demonstrate advanced job knowledge and complete tasks with minimal supervision and guidance from the Manager.

Performs all duties and interacts with internal and external customers in a manner that is expressly aligned with the Company's Core Values of approaching all actions with a "Voyaging Spirit" and being "Positively Ohana". Exhibits core competencies that result in consistent delivery of positive Customer Interactions, Empowerment and Ownership and demonstrates key professional and performance skills such as Active Listening, effective Oral and Written Communication, Action and Solution Oriented and Thoroughness.

Primary Accountabilities:

Risk Analyst I-II:
  • Ensures compliance with the requirements of the Vendor Management Program.
  • Works closely with Product Managers to communicate the requirements of the Program, providing appropriate training, tools, and guidance.
  • Collaborates with Product Managers in the completion of Due Diligence Review Forms, Risk Assessments, and on-going monitoring of vendor services.
  • Follows-up with Product Managers and Subject Matter Experts (SMEs) for the timely completion of all types of reviews of the Bank's potential and existing vendors.
  • Collaborates with Product Managers for collecting current/updated due diligence documents (e.g., SOC, COI, etc.) from vendors.
  • Manages day-to-day responsibilities associated with Venminder, Dun & Bradstreet, and other VM-related systems, to include:
  • Manages users in the Venminder system to ensure users are current and access levels are appropriate.
  • Collaborates with Product Managers to ensure the information on the Venminder systems are accurate and current and that due diligence and other program documents are filed and linked for future access.
  • Adds and maintains vendors in the Dun & Bradstreet system for monitoring and reporting purposes.
  • Participates in Vendor Management related web meetings and trainings. Uses information learned from these meetings to enhance the Bank's Program.
  • Ensures timely and accurate input of vendor information (new vendors, changes to vendor information, ACH information, etc.) to the Bank's accounts payable system in accordance with current procedures.
  • Works with Product Managers to ensure timely completion of requirements for IT SOX vendors with a material impact on the Bank's financial reporting.
  • Conducts review of Bank's Directors and Officers for any payments associated with related parties.
Risk Analyst II - Senior Risk Analyst:
  • Keeps abreast of relevant regulatory changes and updates the Program to ensure compliance with regulatory requirements.
  • Identifies and implements improvements and efficiencies in the Vendor Management Program's processes, policies, and procedures.
Senior Risk Analyst:

Provides critical leadership.
  • Performs and completes the responsibilities of the VMP and serves as a backup to the Manager.
  • Creates the status update and overview report of the VMP identifying significant vendor issues or concerns.
  • Participates in Audits and Exams related to Vendor Management by helping to provide complete supporting material responses and remediation activities when applicable.
  • Participates in training and coaching of junior level Risk Analysts in their role with the VMP.
  • Trains Product Managers and SMEs on the VM policy, VMP manual requirements and VM systems.
  • Organizes and leads meetings with Product Managers, Subject Matter Experts and other stakeholders for onboarding vendors and additional vendor reviews.
Provides operational overview, guidance and reporting.
  • Reviews vendor contracts through the entire life cycle for familiarity with items such as terms and conditions, renewals, terminations and notice requirements, etc.
  • Monitors agreements in the Program to ensure accurate and current information exists for effective contract management.
  • Documents out-of-cycle third-party alerts, impacts to the Bank, and mitigations performed by the Bank.
  • Performs quality assurance checks on all reviews to ensure compliance with the requirements of the VMP.
  • Contributes to a review and enhancement of existing VM procedures, implementing and training of new procedures, and monitors successful adoption of new procedures.
  • Creates and/or maintains VM reports provided to Bank management such as missing, expired and overdue contracts. Communicates action requests and updates in a timely manner.
  • Contributes to vendor risk assessments including but not limited to reviewing the vendor for the appropriate number of resources, necessary qualifications, resource oversight, insurance coverage, business experience, history, verifying vendor's responses, vendor's performance, the use of fourth parties, vendor's strategies and practices, and philosophy alignment.
Performs critical back-up for Vendor Management Risk Analyst activities.
  • Ensures compliance with the requirements of the VMP.
  • Manages day-to-day responsibilities associated with Venminder, Dun & Bradstreet, and other VM-related systems.
  • Ensure timely and accurate input of vendor information (new vendors, changes to vendor information, ACH information, etc.) to the Bank's accounts payable system in accordance with current procedures.
  • Works with Product Managers to ensure timely completion of requirements for IT SOX vendors with a material impact on the Bank's financial reporting.
  • Conducts review of Bank's Directors and Officers for any payments associated with related parties.
Minimum Qualifications:

Education:

Risk Analyst I, II, and Senior:
  • High School Diploma or GED equivalency required.
  • Bachelor's Degree from an accredited 4-year university, preferably in Business Administration, Accounting, or Finance preferred.
Experience:

Risk Analyst I:
  • 3+ years of Business/Financial experience required (vendor relations, contract management or procurement management preferred). A relevant Bachelor's degree can be substituted for 2 years of experience.
Risk Analyst II:
  • 4+ years of Business/Financial experience required (vendor relations, contract management or procurement management preferred). A relevant Bachelor's degree can be substituted for 2 years of experience.
Senior Risk Analyst:
  • 5+ years of Business/Financial experience required (vendor relations, contract management or procurement management preferred). A relevant Bachelor's degree can be substituted for 2 years of experience.
  • 5+ years of reviewing and assessing financial reports/statements, identifying and investigating financial risks or other relevant work required. A relevant Bachelor's degree can be substituted for 2 years of experience.
License/Certification:
  • Vendor Management Certification or equivalent preferred.
Physical Requirements & Working Conditions:
  • Must be able to perform light physical work and to move or lift items including but not limited to boxes, files and papers up to 20 pounds unless otherwise as indicated.
  • Must be able to operate and proficiently use standard office equipment, including phone, copier, personal computer and/or other work related mechanical or electronic devices and applications.
  • Must be able to clearly communicate verbally and in writing with all internal and external customers. Must also be able to hear sufficiently to engage in daily discussions and interactions.
  • Must be able to read and understand bank-related documents.
  • Must be able to work in a conventional office setting, involving sitting at a desk or workstation for long periods of time. Must also be able to adapt to different work environments as needed to perform the job.


We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.

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