Director, Third Party Risk Management

TEKsystems - Houston, TX

Full-time - Senior

Houston, TX

10,001+ employees

Professional, Scientific, and Technical Services

About the position

The Director of Third-Party Risk Management will lead and enhance the third-party risk management program for a bank with over $10 billion in assets under management. This role requires a seasoned professional with extensive experience in managing third-party risks, ensuring compliance with banking regulations, and collaborating with various stakeholders to mitigate risks associated with third-party relationships. The Director will report to risk committees and occasionally to the Board of Directors, focusing on maintaining regulatory compliance and promoting a culture of risk awareness within the organization.

Responsibilities

• Lead the bank's third-party risk management program, ensuring it meets regulatory expectations and industry best practices.
• Continuously assess and update the program to reflect the bank's evolving risk profile, size, and complexity.
• Ensure compliance with regulatory guidance on third-party risk, including requirements published by regulators (e.g., FDIC, OCC, FFIEC, TXDOB).
• Oversee the identification, assessment, and monitoring of risks associated with third-party relationships, including operational, reputational, compliance, and cybersecurity risks.
• Conduct risk assessments on new and existing third parties to ensure they meet the bank's risk tolerance and compliance requirements.
• Collaborate with Legal, Compliance, Information Security, and other first and second lines of defense to identify and mitigate risks.
• Coordinate with vendor owners, legal, compliance, information security, and other departments to ensure a comprehensive approach to third-party risk management.
• Partner with key internal stakeholders to develop strategies for mitigating risks and ensuring third-party resilience.
• Ensure the bank's third-party risk management program complies with all applicable regulatory requirements and stays current with new guidance and expectations from regulators.
• Prepare and present reports on third-party risk management to risk committees and the Board of Directors.
• Serve as a point of contact for regulatory exams and audits concerning third-party risk management.
• Work closely with vendor owners across the bank to ensure third-party relationships are managed effectively and that risks are identified and mitigated early in the process.
• Ensure that contracts with third-party vendors incorporate appropriate risk management provisions, including service-level agreements, compliance, and cybersecurity requirements.
• Develop and deliver training to staff on third-party risk management practices, ensuring consistent understanding and adherence to risk management policies across the bank.
• Promote a culture of risk awareness and proactive risk management throughout the organization.

Requirements

• Over 10 years of experience in Third-Party Risk Management (TPRM).
• Strong knowledge of banking regulations and compliance issues.
• Excellent verbal and written communication skills.
• Experience in managing third-party risk at larger banks, preferably those with $10 billion in assets or more.