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Third-Party Risk Manager

Location

New York

Job description

Position: Third-Party Risk Manager

Reports to: Director of Risk

Position Summary: 

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.

Requirements:

  • 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”.

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