Enterprise Risk Management - Third Party Risk

Citizens Bank - Johnston, RI

Full-time - Mid Level

Johnston, RI

Credit Intermediation and Related Activities

About the position

The Manager Enterprise Risk Management (ERM) is responsible for developing and maintaining Third Party Risk Management (TPRM) Policy Assurance activities within the Bank's second line of defense. This role involves creating procedures, conducting sample testing activities, and reviewing TPRM-related control testing results, issues, and other reporting for trends. The Manager is tasked with ensuring that these activities are not only developed but also maintained and continuously improved upon as requirements evolve to provide ongoing assurance. Additionally, the Manager may provide input on updates to TPRM policy and methodology based on the results of assurance activities or changes in regulatory guidance. Key responsibilities include developing and performing policy assurance activities for TPRM Policy and the Third Party Risk Assessment Methodology. The Manager will research and analyze risk trends to monitor TPRM Policy requirements and prepare reporting on the results of assurance activities for management consumption. Effective communication of results to first and second line risk management is essential, as is confirming corrective actions taken as required. The Manager will serve as an advisor to business unit colleagues and risk management on policy and methodology requirements, maintaining an understanding of industry benchmarks and regulatory changes that may impact TPRM Policy and related risk assessment requirements. The role also supports the Risk Division strategy to build, synthesize, and communicate a comprehensive, principle-based view of risk management. Continuous improvement of the framework implementation strategy with business management, Business Unit Risk Management, and other Risk colleagues is crucial to ensure an open, adequate, and effective risk mitigation culture. The Manager is expected to engage with the team as an individual contributor, enabling the supported business to remain current with Enterprise Risk Management frameworks in a well-controlled environment, aligned with Citizens' strategic goals and industry best practices. A proactive approach to advance teamwork, transparency, and accountability is also a key expectation.

Responsibilities

• Developing and performing policy assurance activities for TPRM Policy and the Third Party Risk Assessment Methodology.
• Researching and analyzing risk trends to monitor TPRM Policy requirements.
• Preparing reporting on results of assurance activities for management consumption.
• Communicating results of assurance activities to first and second line risk management and confirming corrective actions taken as required.
• Serving as an advisor to business unit colleagues and risk management on policy and methodology requirements.
• Maintaining understanding of industry benchmarks and regulatory changes that may impact TPRM Policy and related risk assessment requirements.
• Supporting the Risk Division strategy to build, synthesize, and communicate a comprehensive, principle-based view of risk management.
• Continuously improving upon framework implementation strategy with business management, Business Unit Risk Management, and other Risk colleagues.
• Ensuring engagement with the team as an individual contributor to enable the supported business to remain current with Enterprise Risk Management frameworks.
• Taking a proactive approach to advance teamwork, transparency, and accountability.

Requirements

• 5+ years of relevant experience within the banking industry, risk consulting, financial services, and/or regulatory agency.
• Familiarity with banking operational risk management processes and components (risk assessment, risk mitigation, inherent/residual risk, controls, etc.).
• Experience with Governance Risk and Compliance (GRC) applications including Archer.
• Technical proficiency in Microsoft Excel and PowerPoint.
• Strong collaboration skills, including the ability to build relationships, facilitate discussions, and build consensus across diverse audiences/viewpoints.
• Excellent communication skills and experience producing high-quality materials for management consumption.
• Project management skills, including the ability to organize concurrent tasks/projects, prioritize work, and ensure timely completion.

Benefits

• Competitive pay
• Comprehensive medical, dental and vision coverage
• Retirement benefits
• Maternity/paternity leave
• Flexible work arrangements
• Education reimbursement
• Wellness programs