Associate Operational Risk Vendor Specialist
The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.
The Operational Risk Management and Analysis (ORMA) Department, an independent risk management function, is responsible for developing and implementing a standardized framework to identify, measure, and monitor and operational risk across the firm.
The ORMA Specialist team is comprised of experts who focus on a set of Firmwide risk domains that cover a subset of the firm’s top operational risks exposures. The Specialists are responsible for developing and maintaining an effective second line risk oversight program for these domains and for providing challenge to the first line. These are achieved through risk assessments, risk hunting, metrics and governance processes.
The Specialist in Vendor Management role requires a professional with subject matter expertise in vendor risk management and oversight. This role will be responsible to define and implement programs that assess the effectiveness of controls related to vendor management. The candidate must be an energetic self-starter who can interact with senior business representatives, divisional risk teams as well as vendors.
This role requires an energetic self-starter with a commitment to improving risk management practices.
RESPONSIBILITIES AND QUALIFICATIONS
- Developing and implementing a firmwide vendor risk management framework and approach and ensuring process adherence
- Devising innovative risk management solutions with robust metrics and risk indicators (KPIs/KRIs) to indicate areas of increasing risk/dependencies
- Proactively identifying trends or developments that may materially impact vendor risk threshold
- Risk hunting and identifying risks across vendor portfolio to challenge and identify areas where risk profile can be reduced through analysis
- Monitoring exiting risk appetite, escalating threshold breaches as per standard processes
- Reporting control weaknesses and emerging risks based on internal or external incidents
- Performing risk assessments across vendor management and risk partner activities and the related business flows, controls and components used to conduct oversight
- Assessing policies and procedures used to govern and manage vendor risks
- Adhering strictly to compliance and operational risk controls in accordance with company and regulatory standards, policies, and practices
- Experience in conducting risk reviews and assessments
- Hands-on exposure to vendor risk management and oversight activities is preferable
- Understanding of rules/regulations and appropriate control frameworks related to vendor management
- Technical and quantitative aptitude and analytical skills to be able to identify and quantify operational risks and exposures
- Strong relationship builder and is able to liaise across all levels of business and vendor teams, including senior management and governance structures, across all regions
- Self-starter who can work independently and proactively with strong organizational skills and attention to detail
- Strong verbal and written communication skills. Able to present with impact and influence.
- Ability to challenge current thinking and suggest ideas of how to improve results
- Strong project management and the ability to manage multiple assignments concurrently
- Familiarity with enterprise risk management best-practices and controls
- Possess a Bachelor's Degree