AVP Operational Risk Management – (Third Party)

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Job Ref: 14856

Salary: $65000 – $150000

Job Title: Assistant Vice President (AVP), Operational Risk Management – Third Party Risk Management

Location: New York, NY (Hybrid)

As the AVP of Operational Risk Management – Third Party Risk Management, you will play a pivotal role in overseeing the Bank’s Third Party Risk Management (TPRM) framework, ensuring its effectiveness and continuous improvement. You will work at the intersection of risk, compliance, and operations, with a key focus on developing policies, assessing risks, and providing strategic guidance to senior leadership.

This is an exciting opportunity to build your expertise in a growing and dynamic area of risk management within a leading global financial institution. You’ll work closely with cross-functional teams, influence business strategy, and have a direct impact on the Bank’s operational resilience.

Responsibilities:

1. Third Party Risk Management Framework Development:

• Lead the design, implementation, and continuous enhancement of the Third Party Risk Framework to ensure all third-party risks are effectively identified, assessed, and mitigated.
• 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, conduct control evaluations, and ensure that risk management activities are consistent with organizational goals.

2. Risk Assessment & Monitoring:

• Conduct periodic risk assessments of third-party risks, utilizing a consistent risk rating methodology that aligns with the broader Operational Risk Framework.
• 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 to senior stakeholders, providing insights that drive business decisions.

3. Risk Lifecycle & Second Line Review:

• Oversee the lifecycle of third-party risk management activities as the second line of defense, ensuring timely identification, monitoring, and mitigation of risks.
• Collaborate closely with other subject matter experts (SMEs) in operational risk and regulatory compliance to ensure effective implementation of risk management processes.
• Lead the deployment of third-party risk management systems, ensuring that updates and upgrades are implemented efficiently and that team members are properly trained on system usage.

4. Regulatory Compliance & Industry Trends:

• Stay current with industry developments, emerging tools, and evolving regulatory requirements related to third-party risk management.
• Assist in the development and execution of risk assessments for new products or services, ensuring third-party risks are fully considered.
• Contribute to quarterly Risk and Control Self-Assessment (RCSA) reviews, focusing on third-party risks.

5. Training, Collaboration & Leadership:

• Provide expert guidance and training to internal stakeholders and First Line Units on best practices in third-party risk management.
• Collaborate with internal compliance teams, including BSA/AML, to ensure risk warnings are identified and communicated effectively.
• Foster a culture of risk awareness and proactive risk management throughout the organization.

Qualifications:

• Education: Bachelor’s degree required; advanced degree preferred.
• Experience:
  • 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, specifically in a financial or banking environment.
• Skills and Expertise:
  • 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.
• Certifications:
  • Certified Third Party Risk Professional (CTPRP) or Certified Regulatory Vendor Program Manager (CRVPM) preferred but not required.

• Call/Text: Franca Diona (646)-442-2272

  Email: franca@acgresources.com

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