First Internet Bank
Third-Party and Model Risk Management Manager
First Internet Bank, Fishers, IN, United States
Job Details
Job Location
First Internet Bank of Indiana Fishers - Fishers, IN
About the Position:
As the Third-Party and Model Risk Management Manager, you will be responsible for effectively managing the Bank's third-party relationship portfolio pursuant to the Bank's 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 Bank's TPRM Program is compliant with regulatory expectations and effectively manage the Bank's Model Risk pursuant to the Bank's 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 Bank's MRM program is compliant with regulatory expectations.
What You Will Do:
We're not just another bank and we're not looking for just another employee. Since 1999, First Internet Bank has been dedicated to finding a better way to bank and doing things that have never been done before. Yes, we really were the first state-charted, FDIC insured bank to operate entirely online and we have been leading the way ever since.
We seek the game changers, the innovators...those who challenge the status quo because change really is the only constant. Ready to join a team of imaginative, driven individuals like you? It's your career, you deserve to imagine more. Keep reading, we think you will like you what see.
Why Join Us?
Our success has been driven, in part, by four core competencies - customer focus, teamwork, adaptability and initiative. Collectively they define our actions and are at the heart of all we do. As a result, we've been fortunate to have been named numerous times as an Indianapolis Star Top Workplace and one of the Best Banks to Work For! Headquartered in downtown Fishers, our newly-built, state-of-art 175,000 square foot facility headquarters was designed with our team in mind and features an 18,000 square foot open air deck named "The Backyard", with fire pits, covered pergola, waterfall and foliage to create a momentary escape from the work day. Beyond that, the onsite fitness center with the latest equipment and ergonomically-designed workstations help promote health and wellness. Have we mentioned free snacks, soft drinks and beer available on tap? Want more? How about a flexible work schedule, unlimited volunteer time off and social events to bring us all together to have some more. Why just imagine more, take the "first" step and apply today.
Our benefits package includes the following and so much more:
Equal Opportunity Employer - Women, Minorities, Veterans and Individuals with Disabilities
If you are a California resident, you may be entitled to certain rights regarding your personal information. Additional information about our data collection practices and location specific notices is available on our privacy policy. Click here to read more.
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c). Click here to read more.
Job Location
First Internet Bank of Indiana Fishers - Fishers, IN
About the Position:
As the Third-Party and Model Risk Management Manager, you will be responsible for effectively managing the Bank's third-party relationship portfolio pursuant to the Bank's 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 Bank's TPRM Program is compliant with regulatory expectations and effectively manage the Bank's Model Risk pursuant to the Bank's 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 Bank's 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 Bank's 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 Bank's TPRM databases and software application.
- Reviews viability of third-party services platform.
- Prepares reporting of TPRM risk indicators (KRIs) to the Bank's 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 Bank's TPRM Program and overall TPRM Risk Assessment results to the Bank's 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.
- Performs reviews of existing model and tool documentation, and interviews model developers and model owners to understand the business context for model use and to facilitate the adoption of model risk management standards.
- Assists model and tool developers, model and tool users, and model and tool owners in the completion of model documentation to track the on-going performance of models under their responsibility.
- Maintains the Bank's model and tool inventory, risk assessment, and model documentation library.
- Identifies emerging model risk issues impacting the Bank, changes in industry best practice related to model development and validation, and communicates to model developers, Senior Management, and the Enterprise Risk Management Committee.
- Facilitates improved understanding of model risk by conducting individual educational presentations or other types of sessions as necessary and/or required.
- Maintains an advanced knowledge of financial industry status and trends, including but not limited to the Federal Reserve's SR 11-7 and the OCC's Examination Manual on Model Risk Management.
- Assumes responsibility for special projects, gathers data and prepares reports for the Enterprise Risk Management Committee, audits, regulatory examination, and other personnel.
- Prepares comprehensive and detailed reports documenting the findings of validation review and analysis, and presents results and recommendations for changes, continued use or rejection of models and tools to developers, owners, and the Enterprise Risk Management Committee.
- All other duties assigned.
- Bachelor's Degree or equivalent work experience.
- A minimum of three years' TPRM and MRM experience, preferably in banking.
- Familiarity with regulatory TPRM and MRM requirements.
- Experience with Banking as a Service (BaaS)
- Experience with a GRC system, or a similar solution within banking or highly regulated environment.
- Effective interpersonal skills in working with vendors, business units, team members.
- Experience in areas of Internal Audit, Compliance, or Risk Management.
- Strong project management skills, with proven ability to coordinate multiple tasks on an ongoing basis.
- Knowledge of SOC and SSAE 18 reports, user entity controls, contract language and terms, data security, disaster recovery, and insurance.
- Ability to conduct and train individuals in conducting risk assessments.
- Proven cost savings and continuous improvement approach.
- Strong presentation, written communication, and leadership skills.
- Proficient in Microsoft Office Suite
- Professional office setting.
- Primarily sedentary position requiring long periods of time working at a computer.
- Must be able to move throughout the office and buildings to obtain or relay information.
- Must be able to perform the essential functions of the position with or without reasonable accommodation.
We're not just another bank and we're not looking for just another employee. Since 1999, First Internet Bank has been dedicated to finding a better way to bank and doing things that have never been done before. Yes, we really were the first state-charted, FDIC insured bank to operate entirely online and we have been leading the way ever since.
We seek the game changers, the innovators...those who challenge the status quo because change really is the only constant. Ready to join a team of imaginative, driven individuals like you? It's your career, you deserve to imagine more. Keep reading, we think you will like you what see.
Why Join Us?
Our success has been driven, in part, by four core competencies - customer focus, teamwork, adaptability and initiative. Collectively they define our actions and are at the heart of all we do. As a result, we've been fortunate to have been named numerous times as an Indianapolis Star Top Workplace and one of the Best Banks to Work For! Headquartered in downtown Fishers, our newly-built, state-of-art 175,000 square foot facility headquarters was designed with our team in mind and features an 18,000 square foot open air deck named "The Backyard", with fire pits, covered pergola, waterfall and foliage to create a momentary escape from the work day. Beyond that, the onsite fitness center with the latest equipment and ergonomically-designed workstations help promote health and wellness. Have we mentioned free snacks, soft drinks and beer available on tap? Want more? How about a flexible work schedule, unlimited volunteer time off and social events to bring us all together to have some more. Why just imagine more, take the "first" step and apply today.
Our benefits package includes the following and so much more:
- Medical Dental, Vision Insurance
- 401(k) Retirement Plan with Generous Match
- Tuition Reimbursement
- 3 Weeks Paid Vacation Plus Paid Holidays
- Paid Volunteer Time
- Business Apparel Allowance
Equal Opportunity Employer - Women, Minorities, Veterans and Individuals with Disabilities
If you are a California resident, you may be entitled to certain rights regarding your personal information. Additional information about our data collection practices and location specific notices is available on our privacy policy. Click here to read more.
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c). Click here to read more.