Third Party Risk Manager

Job Description

Job Description

Position Title: Third Party Risk Manager

Reports to:  First Vice President, Enterprise Risk Management

Grade Level: 16

Full Salary Range: $120,574.45 - $180,861.67

Hiring Salary Range: $120,574.45 - $150,718.06

 

Position Summary:

The Third Party Risk Manager oversees the Credit Union’s third-party risk management (TPRM) program under the direction and oversight of the First Vice President, Enterprise Risk Management. This role is responsible for the execution and day-to-day oversight of the TPRM lifecycle across the Credit Union’s vendor and third-party relationships and ensures alignment with the Credit Union’s Enterprise Risk Management Framework. Duties must be accomplished in compliance with federal and state laws and in accordance with the credit union’s policies and procedures and with constant attention to Alero’s creed, vision, mission and goals.

Duties and Responsibilities:

• Plan, direct, and lead the day-to-day operations of the TPRM Program under the direction of the First Vice President, Enterprise Risk Management.
• Act as a subject matter expert (SME) to internal and external stakeholders on third-party risk matters.
• Foster strong stakeholder relationships to enable active and collaborative working relationships across business lines.
• Take a leading role in creating and maturing the TPRM policy, procedures, guidelines, templates, forms, and overall governance process to ensure a robust and scalable program.
• Effectively communicate with senior managers, business leaders, internal support services, vendor owners, and third parties to build and maintain strong partnerships that support a mature TPRM Program.
• Serve as the SME for the review of potential and established third-party relationships, as well as new initiatives.
• Provide TPRM risk mitigation strategies; advise management in understanding and managing third-party risk across the Credit Union.
• Champion behaviors that embed a strong risk management culture across the first and second lines, including strong awareness of TPRM policies and practices.
• Ensure adequate development of risk assessments for all new and ongoing third-party relationships that align with the Credit Union’s TPRM Program and ERM Framework.
• Coordinate contract reviews with legal, third-party relationship owners, and internal vendor owners.
• Review the viability of third-party service providers and platforms and make recommendations on viable alternatives.
• Prepare monthly, quarterly, and annual reporting to appropriate stakeholders that reflects the overall health and risk profile of the TPRM Program.
• Leverage data-driven insights and provide oversight and challenge on key risk indicators.
• Support audit reviews, regulatory exams, and internal risk and control self-assessments.
• Perform all other duties as assigned.

Qualifications:

Education and Experience

• Bachelor’s degree from an accredited university in Finance, Accounting, or a related Business Management field.
• Sponsor banking and/or fintech experience preferred.
• Minimum of seven years of credit union or bank experience supporting the TPRM function.
• CTPRP or similar designation preferred.

Skills and Competencies

• In-depth understanding of relevant laws, regulations, guidance, and industry standards governing third-party relationships in the financial services sector.
• Demonstrated ability to build strong relationships across the organization and excellent interpersonal and communication skills.
• Strong leadership skills with the ability to influence, motivate, and lead others within a fast-paced environment.
• Strong project management skills, with proven ability to coordinate multiple tasks on an ongoing basis.
• Knowledge of SOC and SSAE 18 reports, user entity controls, contract language and terms, data security, disaster recovery, and insurance.
• Ability to develop training materials and train individuals in TPRM processes, risk assessments, etc.

Benefits

• Health, Vision, Dental Insurance 
• Long-term Disability Insurance 
• Critical Illness 
• Life Insurance 
• 401(k) match 
• Profit sharing 
• PTO 
• Flexible Spending Account 
• Tuition Reimbursement 
• Pet Insurance 
• Commuter Benefit

Applicable federal and multi-state regulations including, but not limited to:

• Federal Credit Union Act
• NCUA Rules and Regulations (12 CFR Chapter VII)
• NCUA Part 701 – Organization and Operation of Federal Credit Unions
• NCUA Part 702 – Capital Adequacy
• NCUA Part 712 – Credit Union Service Organizations
• NCUA Part 713 – Fidelity Bond and Insurance Coverage
• NCUA Part 716 – Privacy of Consumer Financial Information
• NCUA Part 717 – Fair Credit Reporting
• NCUA Part 721 – Incidental Powers
• NCUA Part 741 – Requirements for Insurance
• NCUA Part 748 – Security Program, BSA Compliance, and Suspicious Activity Reporting
• NCUA Part 749 – Records Preservation Program
• Bank Secrecy Act (BSA)
• Anti-Money Laundering Act of 2020
• USA PATRIOT Act
• Corporate Transparency Act
• Money Laundering Control Act
• Annunzio-Wylie Anti-Money Laundering Act
• Office of Foreign Assets Control (OFAC) Regulations
• Financial Crimes Enforcement Network (FinCEN) Regulations
• Gramm-Leach-Bliley Act (GLBA)
• Right to Financial Privacy Act
• Fair Credit Reporting Act (FCRA)
• Fair and Accurate Credit Transactions Act (FACT Act)
• Identity Theft Red Flags Rule
• Dodd-Frank Wall Street Reform and Consumer Protection Act
• Consumer Financial Protection Act
• Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) Requirements
• Equal Credit Opportunity Act (Regulation B)
• Truth in Lending Act (Regulation Z)
• Real Estate Settlement Procedures Act (Regulation X)
• Home Mortgage Disclosure Act (Regulation C)
• Electronic Fund Transfer Act (Regulation E)
• Truth in Savings Act (Regulation DD)
• Expedited Funds Availability Act (Regulation CC)
• Fair Housing Act
• Flood Disaster Protection Act
• Homeowners Protection Act (HPA)
• Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act)
• Electronic Signatures in Global and National Commerce Act (E-SIGN Act)
• Check Clearing for the 21st Century Act (Check 21 Act)
• Uniform Commercial Code (UCC)
• Fair Debt Collection Practices Act (FDCPA)
• Servicemembers Civil Relief Act (SCRA)
• Military Lending Act (MLA)
• Telephone Consumer Protection Act (TCPA)
• CAN-SPAM Act
• Cybersecurity Information Sharing Act (CISA)
• Interagency Guidelines Establishing Information Security Standards
• Interagency Guidance on Third-Party Risk Management
• FFIEC BSA/AML Examination Manual
• FFIEC Information Technology Examination Handbook
• FFIEC Compliance Examination Manual
• FFIEC Architecture, Infrastructure, and Operations Handbook
• FFIEC Development, Acquisition, and Maintenance Handbook
• FFIEC Information Security Handbook
• CFPB Regulations and Official Interpretations
• Federal Reserve Operating Circulars
• Internal Revenue Service (IRS) Reporting Requirements
• NACHA Operating Rules
• Visa Core Rules and Visa Product and Service Rules
• Mastercard Rules
• State Credit Union Laws
• State Banking and Financial Institution Laws
• State Consumer Protection Laws
• State Consumer Financial Protection Laws
• State Unfair and Deceptive Acts and Practices (UDAP) Laws
• State Fair Lending Laws
• State Privacy Laws
• State Data Security Laws
• State Cybersecurity Regulations
• State Data Breach Notification Laws
• State Identity Theft Protection Laws
• State Record Retention Laws
• State Electronic Transactions Acts
• State Financial Records and Privacy Laws
• State Vendor Management and Third-Party Risk Management Requirements
• State Subpoena and Financial Records Disclosure Laws
• State Regulatory Examination and Reporting Requirements
• State Anti-Money Laundering Laws
• State Financial Crimes Laws
• State Consumer Lending Laws
• State Governance and Corporate Recordkeeping Requirements
• State Whistleblower Protection Laws
• State Risk Management and Internal Control Requirements
• State Sanctions and Financial Crime Reporting Requirements
• State Employment and Labor Laws
• Fair Labor Standards Act (FLSA)
• Family and Medical Leave Act (FMLA)
• Americans with Disabilities Act (ADA)
• Occupational Safety and Health Act (OSHA)
• Title VII of the Civil Rights Act
• Age Discrimination in Employment Act (ADEA)
• Uniformed Services Employment and Reemployment Rights Act (USERRA)

While performing the duties of this job, the employee is frequently required to sit, view information on a computer screen, and talk or hear. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Telephone conversations may be monitored or recorded for the purposes of training, coaching, feedback and quality assurance on an unannounced basis.