Third Party Risk Manager

Varo Bank; United States; Remote; USD 100,000 - 150,000; Full time

Job summary

Varo Bank is seeking a dedicated Third Party Risk Management (TPRM) Manager to lead evaluations of technology and security risks associated with third-party vendors. The role involves overseeing compliance with risk management frameworks, conducting assessments, and collaborating with various departments to enhance financial security measures. This position requires a strategic mindset focused on ensuring efficient processes and adherence to regulatory standards in a fast-paced fintech environment.

Benefits

Bonus and equity opportunities

Competitive benefits package

Qualifications

• 5-7 years leading third-party risk management, especially with fintech or financial institutions.
• Demonstrated ability in risk identification and gap remediation.
• Experience in reporting to senior management and committees.

Responsibilities

• Manage and enhance Varo’s Third-Party Risk Management Framework.
• Collaborate with internal stakeholders on third-party risk assessments.
• Prepare reports and recommendations for senior management on risks.

Skills

Risk assessment

Due diligence

Cybersecurity

Regulatory compliance

Business Continuity

Education

5-7 years in third-party risk management

Experience with RSA Archer or similar GRC tools

Job description

Varo is an entirely new kind of bank. All digital, mission-driven, FDIC insured and designed for the way our customers live their lives. A bank for all of us.

Varo is building out a world-class Third Party Risk Management (TPRM) team as part of the second line of defense. The TPRM Manager is a critical role at Varo and will be responsible for evaluating and managing third-party technology and security risks. The TPRM Manager will carry out ongoing reviews of all third parties, identify technology risks and requirements, and challenge and monitor third parties’ ability to perform within risk appetite. This role will be acting as the liaison with first-line teams in order to enhance overall technology supply chain risk and business processes to maximize efficiencies and oversight.

What you'll be doing

• Manage and enhance Varo’s Third-Party Risk Management Framework to ensure it meets regulatory expectations and Varo’s risk appetite
• Define and meet SLA expectations for Third Party Risk Assessments, vendor onboarding, proof of concept periods, and retirement
• Oversee the implementation and adherence to Varo’s policy and procedures regarding third-party risk management, including training internal departments on requirements and managing third-party service providers/vendors on an ongoing basis
• Collaborate with internal stakeholders to establish and maintain a comprehensive inventory of third-party relationships, applications, and associated risks
• Collaborate with internal technology and security teams to develop incident response plans and procedures for addressing cybersecurity incidents involving third parties
• Work closely with all Varo departments and internal risk groups that are seeking third-party services/vendor relationships to assure that appropriate risk assessment and due diligence are conducted for any new third-party service
• Prepare and present comprehensive reports and recommendations to senior management regarding third-party risk exposures and mitigation strategies through performance assessments
• Partner with internal budget owners to deliver against budgets and work with appropriate stakeholders on contract negotiations for all managed third-party relationships
• Track compliance with Varo’s third-party policies and procedures, analyze and report on any gaps, and provide recommendations for remediation of such gaps
• Develop dashboard presentations and reports, and provide periodic updates to various Risk Committees on the status of the third-party risk management program
• Act as TPRM Lead in any Regulatory and audit matters, including exams and meetings

You'll bring the following required skills and experiences

• 5-7 years of leading third-party risk management experience with a financial institution, a fintech company, or a provider to the financial services business sector
• Risk assessment and due diligence experience with a particular focus on identifying risks and identifying and implementing solutions to remediate these gaps
• Ability to conduct and report on testing of applicable controls that are in place regarding third-party service providers
• Experience designing systems and workflows that support effective prioritization of monitoring Third Parties and work for the team
• Previous experience reporting to senior management, the Board, and/or Committees of the Board on the status of third-party risk management efforts
• Experience implementing Third Party Management requirements to comply with various regulatory requirements and industry best practices
• Business Continuity, Disaster Recovery, NIST CSF, PCI DSS compliance, SOC 2 Type 2, etc.
• Experience with RSA Archer or similar GRC tools

$100,000 - $150,000 a year For cash compensation, we set standard ranges for all US-based roles based on function, level, and geographic location, benchmarked against similar-stage growth companies. Per applicable law, the salary range for this role is $100,000 - $150,000. Final offer amounts are determined by multiple factors as well as candidate experience and expertise and may vary from the identified range.
This role is also eligible for a bonus, equity, and competitive benefits.

We recognize not everyone will have all of these requirements. If you meet most of the criteria above and you’re excited about the opportunity and willing to learn, we’d love to hear from you!

About Varo

Varo launched in 2017 with the vision to bring the best of fintech into the regulated banking system. We’re a new kind of bank – all-digital, mission-driven, FDIC-insured, and designed around the modern American consumer.

As the first consumer fintech to be granted a national bank charter in 2020, we make financial inclusion and opportunity for all a reality by empowering everyone with the products, insights, and support they need to get ahead. Through our core product offerings and suite of customer-first features, we aim to address a broad range of consumer needs while profitably serving underserved communities that have been historically excluded from the traditional financial system.

We are growing quickly in our hub locations of San Francisco, Salt Lake City, and Charlotte along with colleagues located across the country. We have been recognized among Fast Company’s Most Innovative Companies, Forbes’ Fintech 50, and earned the No. 7 spot on Inc. 5000’s list of fastest-growing companies across the country.

Varo. A bank for all of us.

Our Core Values

- Customers First

- Take Ownership

- Respect

- Stay Curious

- Make it Better

Learn more about Varo by following us:

Facebook - https://www.facebook.com/varomoney

Instagram - www.instagram.com/varobank

LinkedIn - https://www.linkedin.com/company/varobank

Varo is an equal opportunity employer. Varo embraces diversity and we are committed to building teams that represent a variety of backgrounds, perspectives, and skills. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.

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