14856FD AVP Operational Risk Management - (Third Party)

$65,000 - $150,000/Yr

Adams Consulting Group - New York, NY

Full-time - Mid Level

New York, NY

Repair and Maintenance

About the position

The Assistant Vice President (AVP) of Operational Risk Management - Third Party Risk Management is responsible for overseeing the Bank's Third Party Risk Management (TPRM) framework. This role focuses on developing policies, assessing risks, and providing strategic guidance to senior leadership, ensuring the effectiveness and continuous improvement of the TPRM framework. The position involves collaboration with cross-functional teams to influence business strategy and enhance the Bank's operational resilience.

Responsibilities

• Lead the design, implementation, and continuous enhancement of the Third Party Risk Framework.
• Own and refine the policies, procedures, and standards that guide third-party risk management across the organization.
• Develop and execute a comprehensive annual work plan to assess third-party risks and conduct control evaluations.
• Conduct periodic risk assessments of third-party risks using a consistent risk rating methodology.
• Work with First Line Units (FLUs) to identify, challenge, and track risks related to third-party relationships and vendors.
• Produce comprehensive reports on third-party risk data and analysis for senior stakeholders.
• Oversee the lifecycle of third-party risk management activities as the second line of defense.
• Collaborate with subject matter experts in operational risk and regulatory compliance.
• Lead the deployment of third-party risk management systems and ensure team training on system usage.
• Stay current with industry developments and evolving regulatory requirements related to third-party risk management.
• Assist in the development and execution of risk assessments for new products or services.
• Contribute to quarterly Risk and Control Self-Assessment (RCSA) reviews focusing on third-party risks.
• Provide expert guidance and training to internal stakeholders on best practices in third-party risk management.
• Collaborate with internal compliance teams to ensure effective communication of risk warnings.
• Foster a culture of risk awareness and proactive risk management throughout the organization.

Requirements

• Bachelor's degree required; advanced degree preferred.
• Minimum 5 years of experience in the financial services industry, with a strong background in operational risk management.
• At least 2 years of experience in third-party risk management in a financial or banking environment.
• Strong understanding of operational risk management, compliance, and regulatory frameworks.
• Proven ability to manage third-party risks and assess vendor risk from start to finish.
• Familiarity with IT risk, operational controls, and workflows in the financial services sector.
• Experience with risk management systems, controls, and reporting tools is a plus.

Nice-to-haves

• Certified Third Party Risk Professional (CTPRP) preferred but not required.
• Certified Regulatory Vendor Program Manager (CRVPM) preferred but not required.

Benefits

• Salary depending on experience & skill ($65,000 - $150,000)