Third-Party Risk Management - Team Lead

STATE STREET CORPORATION; Mumbai; On-site; INR 1,500,000 - 2,300,000; Full time

Job summary

State Street Corporation is seeking a Third Party Risk Management IRQ Review Officer to evaluate inherent risk assessments, challenge inconsistencies, and guide stakeholders toward resolution. The role requires deep knowledge of IRQ logic and TPRM processes, with exposure to Archer/RSA systems.

The successful candidate will contribute to ongoing TPRM program enhancements while ensuring adherence to SLAs and delivering clear procedure documentation.

Qualifications

• Minimum 5 years of experience in multinational banks.
• Prior experience in Third Party Risk Management.
• Familiar with cyber information sensitivity, access and operational risks.
• Proficient with MS Word, PowerPoint and Excel; Archer/RSA is preferred.

Responsibilities

• Review inherent risk assessments for reasonableness and accuracy.
• Effectively challenge inconsistencies noted during review.
• Communicate with stakeholders for inconsistencies identified and follow through to resolution.
• Develop and maintain understanding of State Street's business lines and products/services.
• Act as subject matter expert regarding IRQ trigger logic and interdependencies.
• Identify business nuances to IRQ responses and enhance procedures as needed.
• Adhere to SLAs; identify opportunities for process efficiencies.
• Assist with creation/maintenance of procedure documents and FAQs.
• Participate in project management efforts including tests of Archer system enhancements.
• Flexibility to support emerging TPRM program requirement changes.

Skills

Multi-tasking

Time management

Communication skills

Tools

Archer / RSA platform

Job description

Role Summary

State Street uses third parties to support internal processes and in the delivery of certain products and services to clients. These third parties are evaluated and risk assessed through our Third-Party Risk Management (TPRM) Program. The Inherent Risk Questionnaire (IRQ) is the tool utilized to determine the inherent risk of an engagement. The Third-Party Risk Management IRQ Review Officer is responsible for effective review and challenge of inherent risk assessments completed by managers of third party supplier engagements. This review is critical to ensure accuracy of responses, resulting inherent risk and required due diligence. The successful candidate should be able to recognize inconsistencies within the IRQ, initiate communications with key stakeholders and business partners and guide them towards successful resolution of the items raised.

Job Duties and Responsibilities

• Review inherent risk assessments for reasonableness and accuracy.


• Effectively challenge any inconsistencies noted during review.


• Communicate with key stakeholders for inconsistencies identified and follow through to successful resolution.


• Develop and maintain an understanding of State Street's business lines and the products & services offered.


• Act as subject matter expert with regards to the inherent risk questionnaire(IRQ) trigger logic and interdependencies between the questions and resulting due diligence requirements.


• Identify business specific nuances to the IRQ responses and enhance existing procedures, as needed.


• Adhere to SLAs; identify opportunities for process efficiencies.


• Assist with the creation and / or maintenance of procedure documents and FAQs.


• Participate in project management efforts including tests of Archer system enhancements.


• Flexibility in working outside of direct responsibilities to support emerging TPRM program requirement changes.

Skills

• Ability to multi-task and operate in a fast-paced, deadline-oriented environment; effective time management skills.


• Strong organizational and problem-solving skills. Must be self-motivated, adaptable and demonstrate initiative in difficult circumstances. Strong verbal and written communication skills; detail oriented Possess a strong customer centric mindset Demonstrate a willingness to support change and initiatives within the TPRM Program.

Qualifications

• Overall work experience of minimum 5 years in multinational banks.


• Prior experience in Third Party Risk Management.


• Familiar with third party risk topics like Cyber Information Sensitivity and Access Risks, Business Conduct and Compliance Risks and Operational Resiliency Risks.


• Strong working knowledge of Microsoft Office products, including Word, PowerPoint and Excel.


• Prior experience with Archer / RSA platform is preferred.

*Please note: Role is required to support internal clients in the first half of US working hours.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you'll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers Read our CEO Statement

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers Read our CEO Statement