Position: Third-Party Risk Manager
Reports to: Director of Risk
The Third-Party Risk Manager will be a member of the Risk Office, which is responsible for facilitating Wafra’s Global Enterprise Risk Management (ERM) Program. Wafra’s ERM Program consists of Investment Risk, Operational Risk, Third-Party Risk Management, Internal Audit, and Business Continuity. The Third-Party Risk Manager will be responsible for managing Wafra’s Third-Party Risk Management framework.
Duties and Responsibilities:
- Work in close co-ordination with members of the Risk Office to support and lead initiatives that provide for an effective Third-Party Risk Management (TPRM) Framework.
- Interface with key Stakeholders to provide thought leadership in enhancing the TPRM program.
- Be responsible for the new Third-Party Onboarding Process:
- Conduct AML screening on the proposed third-party through World-Check.
- Request the critical third-party to complete a Request For Information (RFI) form, which would be ultimately analyzed to assess the risk.
- Maintain, archive and catalog relevant contracts and documents relating to the third-party in a centralized folder.
- Ensure relevant stakeholders have approved the third-party.
- Be responsible for the ongoing monitoring of existing Third-Parties:
- Confirm the continued use, classification and criticality of relevant third-parties with every department and share the updated result with the Stakeholders.
- Conduct due diligence on critical third-parties by sending them the RFI on an annual basis.
- Complete the due diligence form, where the findings from the RFI and the due diligence process is summarized and documented.
- Leverage World-Check to perform AML monitoring of all third-parties semi-annually.
- Maintain and update the third-party database.
- Record incidents involving third-parties.
- Provide reporting to senior management.
- Update the Third-Party Risk policy and other requirements to respond and adhere to new and existing regulatory guidelines and initiatives.
- Lead projects in co-ordination with Stakeholders and assist with implementation of best practices.
- Minimum 5-7 years experience in a financial institution with a strong Third -Party Risk Management experience required.
- Bachelor’s Degree is required.
- Experience in the Operational Risk discipline, establishing framework and on-going process in accordance with industry best practices.
- Ability to operate in an independent manner without close supervision is essential
- Excellent communication and facilitation skills. Ability to work across business units and departments.
- Ability to work constructively and flexibly in a small team environment.
- Have professional presentation skills, including excellent writing and public speaking capabilities; proficiency in standard PC programs (Excel, PowerPoint).
To apply, please send your resume to RiskRecruitment@wafra.com with the subject, “Third-Party Risk Manager”.Apply for a job