Third-Party and Model Risk Management Manager

About the Position: As the Third-Party and Model Risk Management Manager, you will be responsible for effectively managing the Banks third-party relationship portfolio pursuant to the Banks Third-Party Risk Management (TPRM) Program and policy. You will assist management with selection and vetting of prospective third-party relationships. Additionally, you will ensure Banks TPRM Program is compliant with regulatory expectations and effectively manage the Banks Model Risk pursuant to the Banks Model Risk Management (MRM) Program and policy. You will champion the importance and value of sound model risk management practices, manage model validation and identification of model risks, and support ongoing model risk mitigation and reporting, and ensure the Banks MRM program is compliant with regulatory expectations. What You Will Do: Plans, directs, and leads the operations of the TPRM department. Utilizes strong relationship skills to allow for connectivity and collaboration with internal stakeholders (Accounts Payable, Information Security, Business Continuity, Disaster Recovery, Legal, Credit, Compliance, BSA/AML, and Project Management teams). Develops and maintains strong connections with third-party relationships, while navigating the TPRM process. Reviews, advises, and completes due diligence for Banking-as-a-Service (BaaS) initiatives. Assesses suitability of third-party relationships at the time of onboarding, ongoing monitoring, and off-boarding. Ensures adequate development of risk assessments for all new third-party relationships. Obtains required due diligence items to conduct necessary assessments. Coordinates mapping of user entity controls (UECs) to the Banks IT general controls. Coordinates contract reviews with legal, third-party relationships, and business unit managers. Continually improves and performs risk assessment activities to properly rate third-party relationships using a risk-based approached. Raises, escalates, and remediates TPRM findings and operational events. Responsible for maintaining integrity of the Banks TPRM databases and software application. Reviews viability of third-party services platform. Prepares reporting of TPRM risk indicators (KRIs) to the Banks Enterprise Risk Management Committee and Board of Directors. Takes a lead role in maintaining and updating the TPRM policy, procedures, templates, and forms. Prepares annual performance assessment of the Banks TPRM Program and overall TPRM Risk Assessment results to the Banks Enterprise Risk Management Committee and Board of Directors. Supports audit reviews, regulatory exams, and internal risk and control self-assessments. Perform all other duties assigned. Responsibilities include identifying, managing, and mitigating risks associated with various models and tools while providing effective challenge to first line model owners. Role will ensure models are developed, implemented, and validated in line with regulatory and internal governance requirements while collaborating with model owners, risk teams, and senior management to ensure the integrity and reliability of the models. Effectively identifies items posing significant model risks to the Bank, proposes plans to address those risks, and presents recommendations for continued model use or rejection to Senior Management. []{style="font-size: 12px; font-family "}