Assistant Vice President, Third Party Risk Management

MUFG Bank, Ltd; Singapore; On-site; SGD 80,000 - 120,000; Full time

Job summary

A leading financial institution in Singapore is seeking an experienced Assistant Vice President in Third Party Risk Management. This role involves reviewing third-party arrangements, ensuring compliance with regulatory standards, and managing risks effectively across the region. Ideal candidates will have a strong background in IT risk management and excellent communication skills to collaborate with diverse stakeholders. Familiarity with MAS guidelines is essential.

Qualifications

• Experience in conducting third-party risk assessments, particularly in IT domain.
• Familiarity with regulatory requirements related to third-party risk management, especially MAS guidelines.
• Ability to manage multiple projects and processes efficiently.

Responsibilities

• Review third-party arrangements to ensure compliance with regulatory guidelines.
• Participate in governance activities for reporting.
• Communicate with stakeholders and departments for effective risk management.

Skills

Third party risk assessments

IT risk management

Operational resilience understanding

Analytical skills

Communication skills

Interpersonal skills

Education

Recognised degree in Business, Accountancy, Economics or equivalent

Tools

MS Office (PowerPoint & Excel)

Excel VBA

Job description

Role Overview

We are looking for an experienced professional to join our team as an Assistant Vice President (AVP) in Third Party Risk Management (TPRM). The main role is to review the third-party arrangements by giving guidance and advice to businesses to manage third-party risks. Given the significant portion of TPRM activities are system related, a strong emphasis on IT risk management expertise is required, and thus the ideal candidate will leverage their IT risk management knowledge to enhance our TPRM practices to ensure compliance with regulatory standards. The coverage is regional scale from Singapore to other countries in APAC.

Job Responsibilities

• Responsible for reviewing Third-party arrangements to comply with MAS Guidelines on Outsourcing and Notice 658. Reviewing arrangements include, but not limited to oversee business assessment and due diligence, and provide adequate guidance to businesses, ensuring that necessary information is collected and analyzed to make informed risk management decisions.
• Responsible for reporting through participation of governance activities, such as to prepare for any materials to use at Third Party Risk Management Committee, Risk Management Committee and other relevant committees required.
• Responsible for stakeholder communications, including collaboration with teams within/cross departments and business stakeholders, to ensure effective communication and execution for third party risk management.
• Responsible for maintaining accurate and up-to-date documentation of all TPRM activities, to ensure compliance with regulatory requirements and internal policies related to TPRM.
• Responsible for supporting any required activities related to TPRM, not only Singapore, but also other branches in APAC, to ensure the regional governance is executed in the long run.

Job Requirements

• Experience in conducting third party risk assessments, particularly in IT domain.
• Experience in operational risk/IT risk management from the context of understanding Operational Resilience is preferred.
• Familiarity with regulatory requirements related to third-party risk management, especially MAS guidelines.
• Good understanding of Commercial Banking business/operating model.
• Excellent analytical and problem-solving skills.
• Excellent communication and interpersonal skills to build effective working relationships with diverse stakeholders, as well as to work in a team-oriented environment.
• Ability to manage multiple projects and processes efficiently.

Qualifications

• Recognised degree in Business, Accountancy, Economics or equivalent
• MS Office (PowerPoint & Excel). Proficiency in Excel VBA is preferred but not mandatory
• Good writing skill in English

We regret to inform that only shortlisted applicants will be notified.

Mitsubishi UFJ Financial Group (MUFG) is an equal opportunity employer. We view our employees as our key assets as they are fundamental to our long-term growth and success. MUFG is committed to hiring based on merit and organsational fit, regardless of race, religion or gender.