Job Description

*This is a position for a 12 month term.*

The Third-Party Risk Program Manager is responsible for safeguarding the credit union against potential losses and regulatory violations by meticulously managing and assessing risks associated with third-party vendors. This role is responsible for enhancing the ownership of the credit union’s vendor management solution, conducting comprehensive risk reviews, maintaining accurate vendor documentation, ensuring compliance with regulatory standards, and collaborating with internal stakeholders to implement effective risk mitigation strategies.

DIMENSIONS :

• Collaboration: Work closely with relationship managers and other stakeholders to ensure effective vendor management and risk mitigation strategies.
• Vendor Documentation: Maintain accurate and up-to-date records for all vendors to ensure compliance with regulatory guidelines.
• Risk Assessment: With the support of a service provider, conduct regular risk reviews and evaluations to identify and mitigate potential risks associated with vendor relationships.

SUPERVISORY RESPONSIBILITIES :

This role reports directly to the Sr. Manager, ERM & Vendor Management. There are no direct reports to this position.

NATURE & SCOPE:

• Enhance the current third-party risk management model to ensure robust and effective risk mitigation strategies.
• Own the relationship with the service provider that manages critical vendors, ensuring seamless collaboration and optimal performance.
• Maintain and develop the system of record for vendor management, ensuring it is accurate, up-to-date, and capable of supporting comprehensive risk assessments.
• Conduct risk reviews and research projects across all credit union areas to identify and mitigate potential risks.
• Assist in audit requests, analyze audit results and risk reviews to identify trends, patterns, risks, and liabilities, and make recommendations for improvements.
• Complete thorough and accurate work and perform follow-up on outstanding internal control issues.
• Ensure vendors comply with SOC 2 standards, including security, availability, processing integrity, confidentiality, and privacy.
• Develop a vendor management reporting dashboard.
• Monitor credit union general liability, bond, property, and related insurance coverage and overall claims associated with these policies. Initiate and maintain insurance-related correspondence with the general liability and bond carrier. Participate in annual insurance reviews.
• Participate in project teams, committees, and focus groups related to operational process improvement initiatives.
• Assist in the evaluation of risks and controls.
• Under general supervision, design and perform in-depth analysis of process controls; identify measures, and detail effectiveness of controls.
• Support credit union initiatives through risk analysis of new products, recommend risk mitigation solutions, and monitor control implementation progress and results.
• Create and maintain accurate and timely consolidated reporting of significant and emerging risks, recommendations or matters requiring attention, and other risk issues to be determined.
• Provide operational support in the Risk Management department as needed.
• Perform other duties as assigned.

EDUCATION, SKILLS, & ABILITIES :

• Requires an undergraduate degree in Business, Risk Management, or related field, plus a minimum of four years of progressively responsible vendor management or financial industry experience; or an equivalent combination of education and relevant experience.
• Ability to recommend changes and revisions in a positive and constructive manner to employees at all levels of the credit union.
• Strong written, verbal communication and presentation skills are required, along with the ability to communicate with all levels of management, employees, external members, and organizations.
• Ability to perform comprehensive and objective analysis with limited direction.
• Demonstrated problem solving ability and strong analytical skills.
• Strong organizational skills, attention to detail, and the ability to handle multiple projects simultaneously to meet work deadlines while absorbing feedback from leadership and departmental partners.
• Ability to interact effectively with colleagues, understand and follow policies and procedures, and accept constructive criticism.
• Expertise in COSO ERM, ISO 31000, and/or COBIT frameworks.
• Proficiency in Microsoft Suite Reporting: Demonstrated expertise in creating and managing reports using Outlook, Excel, PowerPoint, and Visio. Candidates will be required to complete a skills assessment during the interview process.

PHYSICAL REQUIREMENTS

• Excellent ability to communicate, both verbally and in writing; ability to tolerate periods of continuous sitting.

ENVIRONMENTAL CONDITIONS

• Work is primarily performed within a cubicle office setting. Subject to standard background noise found

in an office environment.

• Full-Time position available.
• Position requires onsite presence with a hybrid work schedule. Occasional branch visits, as needed.

Note: Staff are expected to perform various tasks, projects and administrative duties as assigned. Management reserves the right to assign or change duties and tasks to this position at their discretion.

Salary Range

$93,374.1800 - $116,717.7250

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