Sr. Manager - Third Party Risk Management (TPRM)
Direct Hire/ Permanent
Alexandria, VA/ Tyson's Corner, VA - No Relocation Assistance Provided
BC Management, Inc. Job Order #2945
Position: Senior Manager, Third Party Risk Management (TPRM)
Status: Full-time, Permanent/ Direct Hire
Location: Alexandria, VA/ Tyson’s Corner, VA – Candidates must be local or able to relocate without assistance – COMPANY WILL BE MOVING FROM ALEXANDRIA, VA TO TYSON’S CORNER LATE 2016.
Salary: Based on Experience
Reporting to: Director, Operational Risk Management
* Candidates must have authorization in place to work in the USA.
* Offer will be contingent on passing a background check.
* Candidates must have a Bachelor’s Degree coupled with 7+ years Vendor Management & Vendor Risk Management expertise.
The primary purpose of this job is to manage the day to day operations of the TPRM department, including vendor risk assessments, due diligence reviews, selection assistance, contracting support, ongoing monitoring, and periodic vendor recertification. The Senior Manager, TPRM is also responsible for facilitating the efforts of all stakeholders involved throughout the process, including Finance, Legal, Compliance, and IT, among others, collecting required documentation, and maintaining records.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.
- Develop a working knowledge of all key third party relationships (current and planned), including out- or co-sourced vendors, third parties who originate products and/or services COMPANY uses and/or offers, and third party relationships in which COMPANY’s name or brand is associated with or franchised by others.
- Work closely with the business and IT to understand objectives, goals, and requirements in procuring third party products or services and/or managing third party relationships.
- Ensure relationships under consideration are strategically, culturally, and ethically aligned with COMPANY’s mission and values, and relate to its strategic plan.
- Conduct risk assessments for new third parties using COMPANY’s risk assessment tool. Depending on the risk rating calculated, conduct the appropriate level of due diligence per COMPANY policy, and liaise with all involved stakeholders on function-specific requirements. Accompany the Director, Operational Risk Management on site visits upon request.
- Re-perform risk assessments on a periodic basis, and recertify conformance to COMPANY’s requirements through updated due diligence as appropriate. Notify contract owners of any changes to the risk profile to ensure acceptability.
- Manage TPRM Analysts assigned to support key functional areas, including mortgages, operations, IT, HR, Finance, etc. Ensure that TPRM Analysts are current on all assigned risk assessments and due diligence requests, and provide support where required.
- Directly respond to the needs, requests, and concerns of executive and senior management staff participating in third party relationships. Escalate any issues related to risk assessment results or issues in the due diligence process to the Director, Operational Risk Management or the appropriate stakeholder.
- Administer VendorINSIGHT and future tools and technology supporting TPRM. Maintain vendor contracts and other documentation, develop and generate reports upon request, and monitor alerts. Maintain a vendor watch list to stay abreast of third parties who develop legal, compliance, financial, or other issues.
- Maintain TPRM policies and procedures, identify standards, performance criteria, internal controls, processes and systems needed, and recommend enhancements to the program as appropriate.
- Monitor regulatory guidance for changes to requirements. Interact with Internal Audit and NCUA examiners as needed.
- Assist the Director, Operational Risk Management with the ongoing development of TPRM processes and special projects as assigned.
Education & Experience
Equivalent combination of education and experience is considered.
- Bachelor’s Degree in Business or a related field is required.
- Master’s Degree in Business Administration or a related field is preferred.
- Minimum of seven (7) years’ of experience in Vendor Management, Vendor Risk Management, and Procurement is required.
- This position will directly supervise employees.
To learn more about the position, please contact Cheyene Marling - BC Management Inc at [email protected] or +1 714-969-8006.