Third Party Risk Management Specialist

NETWORK FOR ELECTRONIC TRANSFERS (SINGAPORE) PTE LTD; Singapore; On-site; SGD 90,000 - 120,000; Full time

Job summary

NETWORK FOR ELECTRONIC TRANSFERS (SINGAPORE) PTE LTD is seeking a TPRM Specialist to support the VP of Corporate & Workplace Solutions in managing the Third Party Risk Management program, ensuring oversight of vendor performance, compliance, and risk controls across NETS Group entities.

You will review policies, advise stakeholders on due diligence, SLAs and contractual clauses, and collaborate with BCM, IT Security, Legal to review third-party arrangements and drive remediation.

Qualifications

• Degree in Information Technology, Business Administration, or related field.
• 3-5 years of experience in vendor management, procurement, risk and compliance, or related roles within the financial industry.

Responsibilities

• Propose and implement improvements to the TPRM program based on changes in third-party risk profiles, security standards, regulatory requirements, and operating environment.
• Review and assess TPRM-related policies and procedures for effectiveness and regulatory compliance.
• Provide expert advisory to business and IT stakeholders on due diligence assessments, risk monitoring, service level agreements, and contractual clauses to meet regulatory standards.
• Advise on managing adverse developments, contractual breaches, and non-compliance issues with third parties.
• Collaborate with SMEs from BCM, IT Security, IT Governance, Legal, and other functions to review new and existing third-party arrangements and challenge risk assessments and vendor management processes.
• Plan and conduct TPRM Committee meetings, setting agendas on due diligence approvals, monitoring activities, and remediation status.
• Track, document, and report gaps, deviations, and adverse findings in third-party risk management processes.
• Perform independent testing to verify the effective implementation of TPRM processes and controls.
• Support internal and external audits related to third-party risk management

Skills

Vendor management

Risk and compliance

Procurement

IT governance

Due diligence

Education

Degree in Information Technology or Business Administration

Job description

Company Overview

The NETS Group is a leading payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain.

The Group operates Singapore’s national debit scheme enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 130,000 acceptance points in the country as well as online payments.

Job Summary

The TPRM Specialist supports the VP of Corporate & Workplace Solutions in managing the Third Party Risk Management program, ensuring effective oversight of vendor performance, compliance, and risk controls across NETS Group entities.

Responsibilities

• Propose and implement improvements to the TPRM program based on changes in third-party risk profiles, security standards, regulatory requirements, and operating environment
• Review and assess TPRM-related policies and procedures for effectiveness and regulatory compliance
• Provide expert advisory to business and IT stakeholders on due diligence assessments, risk monitoring, service level agreements, and contractual clauses to meet regulatory standards
• Advise on managing adverse developments, contractual breaches, and non-compliance issues with third parties
• Collaborate with SMEs from BCM, IT Security, IT Governance, Legal, and other functions to review new and existing third-party arrangements and challenge risk assessments and vendor management processes
• Plan and conduct TPRM Committee meetings, setting agendas on due diligence approvals, monitoring activities, and remediation status
• Track, document, and report gaps, deviations, and adverse findings in third-party risk management processes
• Perform independent testing to verify the effective implementation of TPRM processes and controls
• Support internal and external audits related to third-party risk management

Required competencies and certifications

• Degree in Information Technology, Business Administration, or a related field
• Minimum 3-5 years of experience in vendor management, procurement, risk and compliance, business audit, or related roles within the financial industry

Preferred competencies and qualifications

• Good knowledge and understanding of regulatory and legal requirements related to IT vendor management and contracts
• Ability to rigorously execute tasks with a strong risk mindset in a critical payment infrastructure environment
• Capability to independently engage and collaborate with business and IT stakeholders to achieve TPRM objectives
• Strong organizational and problem-solving skills with meticulous attention to detail
• Effective written and verbal communication skills to convey complex risk and compliance matters
• Project and time management skills to prioritize tasks and meet tight deadlines