AVP, Third Party Risk (Operational Risk Dept)

Madison-Davis, LLC; New York (NY); Hybrid; USD 90,000 - 150,000; Full time

Job summary

A leading commercial bank is looking for an AVP in Third-Party Risk, focusing on overseeing risk management frameworks, enhancing policies, and conducting assessments to mitigate risks effectively. This hybrid role offers a competitive salary and the chance to work within a dynamic environment in Midtown Manhattan.

Qualifications

• Experience in third-party risk management and operational risk governance.
• Strong analytical skills for assessing and mitigating risks.
• Proven ability to develop and update policy frameworks.

Responsibilities

• Enhance and maintain the Third Party Risk Management Framework.
• Guide risk assessments and ensure robust risk oversight.
• Conduct periodic reviews of third-party risk landscape.

Skills

Risk Assessment

Policy Development

Data Analysis

Education

Bachelor's degree in Finance or related field

Job description

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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