Manager, Third Party Risk Management & Vendor Management

Job DescriptionJob Description

Job Description

Job Title: Manager, Third Party Risk Management & Vendor Management

This position is available as an on-site assignment or remote assignment.

Summary:

The Manager, Third Party Risk & Vendor Management is responsible for leading the maturity and execution of the Bank's enterprise-wide vendor management and third-party risk management programs. Will manage documentation of all types of third-party relationships and agreements. Support line of business with risk assessments, initial due diligence, onboarding, ongoing monitoring, and offboarding of third-party relationships and vendor management. Develop and execute programs in alignment with bank policies and procedures. Works with the management team to maintain and improve general controls, policies, procedures, and reporting to ensure ongoing compliance and continuous improvement. Works to create a culture of best practices and efficiency in the banks risk and audit function.

Wage Type: Salaried Exempt

Essential Duties & Responsibilities:

To perform this job successfully, an individual must be able to perform each of the essential duties satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Matures and manages TransPecos Vendor Management program and framework, including processes for:
  • Strategic vendor selection
  • Contract management and negotiation.
  • Continuously maintaining accurate contract and vendor inventories
  • Engaging with SMEs to ensure contract clauses are updated and relevant in accordance with legal, regulatory and internal requirements.
  • Purchase Management, including overseeing consistent execution of the buying process and ensuring delivery of services in accordance with defined service level objectives.
• Matures and manages TransPecos Third-Party Risk Management program and framework in alignment with the ERM Framework and acceptable risk tolerances, including processes for:
  • Identifying vendor risk by conducting risk assessments at vendor onboarding and throughout the vendor lifecycle in accordance with defined risk categories (i.e., compliance, operational, financial, information security, etc.), internal program risk rating requirements and critical tiering structure.
  • Manages implementation and configuration of automated tools and technologies designed to reduce risk and enhance efficiency.
  • Develops and manages third-party risk management monitoring and reporting to ensure risk-based continuous monitoring and evaluating third-party performance and compliance.
• Primary vendor management and third-party risk lead in any regulatory matters, including exams and audits.
• Carries out responsibilities in a manner consistent with our values and operating principles, in accordance with policy and applicable laws, and with a commitment to continuous improvement and process excellence.
• Assumes leadership in all areas of audit including but not limited to internal/external communications, employee development, and innovation.
• Executes auditing plans in a cost-efficient manner and produces results to influence management decisions leading to successful implementation of the recommended actions for bottom-line improvements and process controls through well-written audit findings and reports.
• Manages the assessment and effectiveness of internal controls for finance and business operations to determine that they comply with regulations, adequate control standards, and established corporate plans and procedures.
• Assesses risk and exposure by consulting with management and conducting audits to evaluate the effectiveness of business applications.
• Reviews, evaluates, and reports on performance of third critical, high-risk and significant third-party relationships.
• Collaborates with key stakeholders to perform risk assessments of third parties for GLBA/privacy, ID Theft Red Flags, Business Continuity Management, and other areas of risk as assigned,
• Performs other related duties as assigned by management.
• Write reports, business correspondence, policy/procedures, and effectively present information and respond to questions from groups of managers, executive and senior leaders, and the Chief Compliance Officer.
• Participate in industry events, community activities, and bank appointed committees as assigned.
• Supervises TPRM/Vendor Management Analyst(s).
• Carries out responsibilities in a manner consistent with our values and operating principles, in accordance with policy and applicable laws, and with a commitment to continuous improvement and process excellence.
• Any other duties as assigned.

Key Deliverables:

• Implementation of approved tools and technologies designed to enable the business through automated vendor and third-party risk management processes throughout the vendor life cycle.

• Effective and efficient end-to-end vendor and third-party risk program management.

• Team Effectiveness & Capability in third party risk and vendor management.

• Compliance with internal requirements and the ERM framework, regulatory requirements, and industry best practices and standards.

Organizational Structure:

Reports to: SVP Third Party Risk, Vendor Mngmt, & Info Sec Officer

Supervises: (2) Third Party Risk Management & Vendor Management Analyst

Qualifications:

Education:

• Bachelor's Degree in risk management, supply chain, accounting, finance, business management or another relevant field.
• Graduate Degree preferrred
• Relevant certifications (e.g., CTPRP, CRCMP, CISA, etc.)

Required Knowledge/Skills:

• Demonstrated proficiency in supervising and motivating others.
• Advanced Excel Skills.
• Proficient in MS Office Products.
• Strong interpersonal and presentation skills.
• Strong managerial, planning, and communication skills.
• Advanced knowledge of banking procedures, policies, and regulations.
• Excellent written and oral communication skills.

Desired Experiences:

• 7+ years of vendor and risk management roles, with at least 3 years in vendor management and/or third-party risk roles.
• Experience with risk management platforms (e.g., Archer, ProcessUnity, OneTrust).
• Deep understanding of regulatory requirements and industry best practices for third-party risk management and vendor management/procurement.
• Procurement experience at a financial institution.

Talents:

• Commitment to excellence and high standards.
• Strong project management and organizational skills.
• Strong positivity.
• Mission driven, competitive, goal oriented, and motivated to develop themselves and others.
• Energetic, resourceful, and appropriate work intensity to get the work done.
• Strong people acumen and relationship skills; Naturally pre-disposed to quickly establish positive personal and professional relationships.

Other:

• Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form.
• Must be able to lift to 20 pounds.

TransPecos Banks will not accept unsolicited resumes from any source other than the candidate. We will consider any candidate for whom an Agency submits an unsolicited resume, to have been referred to us by the Agency free of any charges or fees, other than those agencies we engage on a specific search. TransPecos Banks will not pay a for any placement resulting from the receipt of an unsolicited resume.