Third-Party Risk Management Analyst

Job Details

Job Location

Farragut Branch - Farragut, TN

Description

GENERAL FUNCTION:

Maintain and execute the Bank's Third-Party Risk Management program and systems to ensure regulatory compliance, efficiency, and effectiveness of the entire third-party lifecycle. Initiate, drive, and communicate the third-party risk procedure for any applicable situation, including third-party planning, contract management, due diligence process, ongoing monitoring, executive reporting, periodic re-certification, contingency planning, and offboarding activities.

ESSENTIAL FUNCTIONS:

Third-Party Risk Management Administration

Operate the day-to-day management and oversight of the Bank's Third-Party Risk Management Policy and Program in accordance with applicable laws, rules, and directives.

Monitor and maintain the Bank's third-party risk software and platforms, ensuring that all third-party documentation is safeguarded and accurately maintained within appropriate databases.

Implement, monitor, and maintain effective internal controls over all third-party service providers, including communication of information requirements and access to customer and bank information consistent with applicable laws and regulations.

Communicate with business unit leaders to identify, select, qualify, and implement third-party solutions through effective new vendor selection and vendor contract renewal processes and risk assessments/due diligence, including, but not limited to, non-disclosure agreements, due diligence reviews, risk assessments, and input on contract requirements.

Coordinate the new third-party onboarding process and complete the due diligence for end-to-end assessment process for new and existing third parties in a timely manner, ensuring appropriate controls are in place. This includes the coordination of efforts with the Bank's New Product, Service, and Technology Process.

Engage with subject matter experts (SMEs) to request, review, and analyze all relevant third-party documentation and internally and externally prepared due diligence/risk assessments received. Communicate with business unit leaders and executives about issues, concerns, processes, parameters, and other information.

Monitor the third-party lifecycle for all third-party service providers, including but not limited to, contract deadlines, offboarding functions, and cadenced risk assessments

Maintain awareness, understanding, and compliance with the Bank's internal policies and procedures, laws, guidelines, and regulations appropriate for this function, as well as financial industry topics, trends, methods/processes, technology, best practices, etc., through research, industry events, networking, etc.

Respond to regulatory and internal/external audit requests as directed.

Coordinate contract review efforts with the Bank's Senior Corporate Counsel and Director of Third-Party Risk Management for all third-party service providers, including new contracts and renewals.

Review and interpret legal terminology and clauses, including but not limited to contract dates, fees owed, termination notices, indemnification, limitation of liability, and right to audit.

Assist with the drafting of notices to all third-party service providers

Research and gather supporting material for internal and external inquiries, and assist in preparing high-quality presentations and reports for multiple levels of management, auditors, and examiners, as needed.

Compliance

Review the Bank's information security guidelines regularly and avoid activity that could expose the Bank to malware, scams, and fraud. Follow all guidelines for securing your accounts, access, systems, and information. Be proactive in identifying threats to information security and relay concerns to the information security team.

Diligently protect confidential information and assist the Bank in ensuring that all confidential and sensitive information is handled appropriately.

Maintain an active awareness and understanding of policies, procedures, designated authorities, regulations, and laws, including but not limited to, the Bank Secrecy Act, Anti-Money Laundering Act, Red Flags, Consumer Privacy, Fair Lending, other applicable lending laws, etc. Follow these at all times.

Communicate openly with supervisors and other management about policies, procedures, work conduct, and job functions. Ask questions to clarify any uncertainty when issues arise.

Address with your supervisor questions about suspected violations of policy and procedure, and other laws and guidelines, as outlined in the Code of Conduct, including but not limited to Bank Secrecy Act, Anti-Money Laundering Act, lending laws, etc.

Participate in training sessions and policy updates as necessary. Assist with coordination of scheduling as appropriate.

Other

Maintain focus and professionalism at work; reserve personal matters for personal time. Be teachable, flexible, manageable, approachable, and helpful.

Work scheduled and other needed hours at the designated location(s).

Assist Management with scheduling and other issues as directed.

Accept additional work as needed and assist other managers or Team Members as needed.

All Team Members should provide consistently positive, effective, helpful service to all customers, both internal and external.

Management or Bank policy may revise, delete, or add responsibility as necessary.

Requirements

Required: 1-2 years of experience in paralegal work (any field), risk management, compliance, or financial institution

Preferred: 3-5 years of experience in risk management at a financial institution

Preferred: Bachelor's degree, preferably in Business Administration, Risk Management, Accounting, or related field, or equivalent experience/education.

Preferred: Proficiency using a risk management platform

Required: Strong organizational, analytical, and communication skills

Activity

Ability to operate office equipment, telephones, and computers

Ability to communicate fluently in English, in person, in writing, and on the computer

Ability to hear, speak, and understand verbal communication

Ability to read, write, count, and perform basic math functions

Ability to move head, shoulders, neck, and arms freely (e.g. operation of office equipment)

Ability to use manual dexterity and fine manipulation for operating a keyboard, using equipment, filing, etc.

Ability to lift up to 10 pounds, grasp, reach, and pull

Ability to think, remember, learn new information, and apply cognitive data to job functions

Ability to assess and concentrate on mental and physical job tasks to see them to completion

Ability to work with others to share information and solve problems

SouthEast Bank is an equal opportunity employer. It is our policy to treat all individuals equally, regardless of race, color, religion, sex, gender, national origin, disability, age, genetic information, sexual orientation, transgender/gender identity, sexual preference, or service in the armed forces.

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SouthEast Bank

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Third-Party Risk Management Analyst