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Reporting to the Senior Vice President of Operational Risk & Insurance, the Vice President of Operational Risk will lead a newly consolidated Third-party Risk Management (TPRM) team (of approximately 20 individuals) within Operational Risk team. The TPRM team is responsible for setting the policies and standards for how third-party risks are to be managed across the Firm, independently conducting risk identification and assessment activities, establishing and executing on risk monitoring and oversight and delivering risk reporting to management in the board. The candidate will be responsible for continuing to mature and lead execution of the TPRM framework within the second line of defense across the Firm.
What youre good at
The VP and his/her team will:
Provide oversight and direction to team responsible for the continued maturity and ongoing process improvement established for third-party risk management
Chair the Third-party Risk Management Subcommittee, consisting of cross functional membership across the three lines of defense whose responsibility is to challenge and where appropriate, approve key third-party risk management policies and activities.
Lead a cross functional project supporting the continued maturity of the Firm's third-party risk management practices in partnership with the first line of defense
Collaborate with Corporate Vendor Management on joint priorities enhaning the third-party risk profile of the Firm.
Establish a multiyear third-party risk management strategy with a goal of providing the business, management and the board insight into the overall third-party risk profile of the Firm.
Evaluate regulatory requirements and industry best practices to establish clear and measurable expectations for the TPRM program and related capabilities
Enhance existing risk reporting, including the further build out of risk metrics in line with the Firm's risk appetite, that go to the Third-party Risk Management Subcommittee, Operational Risk Oversight Committee and the Board Risk Committee
Developing a solid and positive working relationship with colleagues in other risk and control functions as well as other business units to ensure the program is effectively and efficiently implemented enterprise-wide
Partnering with management to help drive focus on mitigation of risk, including implementation of management action plans to address open operational risk issues
Partnering with 1st line of defense leadership to identify, assess, monitor and control their businesses existing and emerging operational risk while challenging the effectiveness of their response to changes in the risk environment
What you have
The successful candidate must be fully committed to serving the needs of clients, employees, and shareholders. He/she will bring a strong leadership presence supporting the brand through strong organizational and communication skills and will be effective establishing and obtaining commitment to business goals, while constructively motivating people and implementing strategies to achieve superior business results including quality and productivity.
Minimum of seven years of senior level third-party risk management experience within a diversified financial services environment and minimum of five years leading a substantial team within the risk management function.
Strong working knowledge of operational risk oversight, corporate program development, maintenance for risk assessment and testing.
A depth of knowledge of the third-party risk management lifecycle
A depth of knowledge of regulatory requirements and guidance related to third-party risk management as identified by the Federal Reserve Board, Office of the Comptroller of the Currency or Federal Financial Institutions Examination Council
Capable of leading complex, cross-functional initiatives with milestones that are delivered on time.
Possess strong communication and presentation skills to articulate risk management perspective to senior level executives EVPs, SVPs.
Commands a comprehensive understanding of third-party trends impacting risk assessment programs in a diversified financial services firm.
Maintains strong problem solving and creative skills and the ability to exercise sound judgment, making decisions based on accurate and timely analyses.
Strong emotional intelligence/maturity and senior level executive presence.
Thrives on initiating, building and cultivating strong relationships inside and outside; highly collaborative; navigates and activates alignment across organizational silos as well as the enterprise as a whole.
Exceptionally client focused; able to effectively and quickly build relationships and establish trust, respect, competence and confidence.