AVP, Third Party Risk (Operational Risk Dept)

AVP, Third Party Risk (Operational Risk Dept)

AVP, Third Party Risk (Operational Risk Dept)

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This range is provided by Madison-Davis, LLC. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$90,000.00/yr - $150,000.00/yr

Title: AVP Third Party Risk (Operational Risk)

Office Status: Hybrid

Base Salary: $90k to $150k

Overview:

A leading commercial bank located in Midtown Manhattan is seeking to hire an AVP in Operational Risk Governance. This role will focus on overseeing the third-party risk management lifecycle, updating policies and procedures, and guiding risk assessments.

Key Responsibilities:

Third Party Risk Framework

• Enhance and maintain a comprehensive Third Party Risk Management Framework.
• Update and refine policies and procedures to ensure effective third party risk oversight.
• Develop and manage an annual work plan to assess and challenge third party risk activities, including control testing and risk assessments.
• Apply consistent control rating methodologies that align with the broader Operational Risk Framework.
• Conduct periodic reviews of the third party risk landscape and associated controls.

Risk Lifecycle & Oversight

• Monitor and assess third party risk activities throughout the vendor lifecycle from a second line of defense perspective.
• Provide subject matter guidance to First Line Units (FLUs) on best practices and risk mitigation strategies.
• Ensure thorough documentation and centralized recordkeeping of all third party relationships.
• Aggregate and analyze third party risk data to support reporting to senior management and governance bodies.
• Keep current on industry trends, regulatory expectations, and TPRM technologies to drive continuous improvement.

Systems & Tools

• Ensure the third party risk management system is effectively implemented and regularly updated.
• Provide timely training to system users when upgrades or changes are deployed.
• Collaborate with other risk SMEs to ensure integration and efficiency across related processes.

Additional Support

• Support the new product risk assessment process with a focus on third party risk implications.
• Contribute to quarterly RACA (Risk and Control Assessment) reviews within your area of expertise.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance

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