About the position
The Manager of Third-Party Risk Management (TPRM) is responsible for the leadership and management necessary for operating the bank-wide Third-Party Risk Management Program. The Third-Party Risk Management Program is an element of the Enterprise Risk Management (ERM) Program at First Interstate Bank (FIB) and reports to the Director of Enterprise Risk Management in the Chief Risk Officer's organization. The leadership of this role involves aiding in developing and maturing the framework to manage the bank's relationships with external vendors and their contracts to ensure quality, compliance, and cost-effectiveness. Responsibilities include developing and implementing a comprehensive risk management program in accordance with regulatory expectations to manage all aspects of third- and fourth-party risks. This role collaborates closely with senior managers in all areas of the bank to ensure appropriate oversight, due diligence, assessments, and monitoring over all third-party contracts and relationships utilized in the enterprise.
Responsibilities
- Administers all aspects of third-party relationships throughout their vendor life cycle.
- Collaborates with partners and business stakeholders to perform due diligence, risk assessment and ongoing monitoring of vendor performance.
- Assists in maturing the Program in accordance with the size and complexity of FIB including fourth party oversight and assessments.
- Supports key initiatives and projects of the organization as it relates to third parties.
- Negotiates successfully with vendors to obtain favorable contracts.
- Escalates and remediates third party related issues identified in ongoing monitoring.
- Responds to regulatory and audit inquiries and requests.
- Interacts with internal and external customers to understand their needs.
- Provides consistent and accurate management and board reporting including metrics.
- Provides focus and clarity in establishing individual goals and driving performance management.
- Leverages the value in unit, department, and enterprise-wide teams.
- Accepts and successfully executes change while supporting employees.
- Tracks, reports, and presents project status to senior management.
- Keeps abreast of industry trends and regulatory changes impacting third party risk management.
- Manages a portfolio of third-party relationships.
Requirements
- Excellent negotiation and communication skills.
- Computer skills are essential, including Microsoft applications such as Word, Excel, Outlook, and PowerPoint.
- Ability to prioritize work and remain adaptable under pressure.
- Understanding of the challenges related to implementing organizational changes.
- Strong analytical and critical thinking skills.
- Ability to anticipate barriers and opportunities.
- Ability to manage multiple demands and adapt to new challenges.
- Ability to read, analyze, and interpret general business periodicals and regulations.
- Ability to effectively present information and respond to questions.
- Ability to apply concepts such as fractions, percentages, ratios, and proportions.
- Ability to solve practical problems and deal with a variety of concrete variables.
- Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Nice-to-haves
- Previous leadership/people management responsibilities preferred.
Benefits
- Reasonable accommodations for individuals with disabilities.
