Third Party Vendor Risk Management

Full-time - Mid Level

New York, NY

Educational Services

About the position

The Third-Party / Vendor Risk Management (VRM) Specialist is responsible for overseeing the VRM program within a global financial services company. This role focuses on identifying, assessing, and managing risks associated with third-party vendors to ensure business performance is not disrupted. The specialist will lead risk assessments, manage vendor inventories, facilitate onboarding, and provide regular reporting on risk management metrics.

Responsibilities

• Oversee the Third-Party / Vendor Risk Management program.
• Lead risk assessments of vendors and associated services, including due diligence and documentation.
• Manage an inventory of vendors and associated services.
• Facilitate onboarding of new vendors and conduct reviews of existing vendors.
• Review and challenge vendor risk assessments conducted by business and functional areas.
• Provide Monthly and Quarterly Risk Management reporting and Vendor Risk Management metrics.
• Support and provide oversight to the first line of defense through various operational risk and third-party/vendor risk programs.
• Identify issues and opportunities in business and functional operations regarding Third-Party / Vendor Risk.
• Ensure effective implementation of operational risk and third-party/vendor risk management programs.
• Assist in identifying and evaluating risk areas across the Firm's operational activities.
• Maintain, develop, and prepare documentation for risk management, including risk policies and procedures.
• Investigate root causes of operational risks and provide support to mitigate risk.
• Conduct training on third-party risk management programs and policies.
• Provide regular management reporting and status updates on Third-Party / Vendor Risk programs.
• Assist the Legal department with Contract Management.

Requirements

• Bachelor's degree
• 3 years of experience in risk management
• 1 year of experience in anti-money laundering
• Excellent proficiency in Microsoft Excel
• Strong organizational skills with great attention to detail
• Excellent written and verbal communication skills
• Ability to analyze problems and formulate conclusions
• Prior experience managing Third-Party / Vendor Risk programs independently

Nice-to-haves

• 1 year of experience in banking
• Knowledge of Equity and Fixed Income Clearing, Securities Lending and Financing products

Benefits

• Contract position with hourly pay of $49 - $51