Emigrant Bank
Director of Third Party Risk Management
Emigrant Bank, Indianapolis, Indiana, United States,
Position: Director of Third Party Risk Management
Department: Risk Management
Reports To: Chief Risk Officer
Employment Status: Full-Time, Exempt
Office Location: Remote / Hybrid (NYC or Miami)
Job Summary
Reporting to the Chief Risk Officer (CRO), the Director of Third Party Risk Management plays a pivotal role in the advancement and maturation of the Enterprise Risk Management (ERM) function at Emigrant. The Director will be responsible for overseeing and managing the risks associated with third-parties (both strategic relationships and vendors), with a particular focus on partnerships with Fintech companies. This role will involve developing, implementing, and maintaining a comprehensive risk management framework to identify, assess, monitor, and mitigate risks that could impact the bank's operations and regulatory compliance. The Director will work closely with various departments within the bank, including Compliance, Legal, IT, and Operations, to ensure that all Fintech partnerships align with the Bank's risk appetite and regulatory requirements.
Essential Responsibilities and Duties:
Work collaboratively across the department and enterprise to advance the development of a robust third-party risk management framework, specifically tailored to Fintech relationships.
Maintain risk assessment methodologies and perform ad-hoc and ongoing risk assessments.
Assist in developing policies and programs related to third-party risk management, ensuring they reflect best practices and regulatory expectations.
Assist in designing key risk indicator (KRI) framework along with the calibration of thresholds across all risk dimensions.
Lead and advance the vendor risk management program.
Work closely with internal stakeholders, including Legal, Compliance, IT, and Business Units, to integrate third-party risk management into all aspects of Fintech partnerships.
Serve as the primary point of contact for all third-party risk-related matters involving Fintech relationships.
Develop and maintain risk management dashboards.
General Responsibilities:
Comply with all safety policies, practices and procedures. Report all unsafe activities to supervisor and/or Human Resources.
Participate in proactive team efforts to achieve departmental and company goals.
Perform other duties as assigned.
Provide leadership to others through example and sharing of knowledge/skill.
Receive very general guidance with respect to overall objectives; work is usually quite independent of others; operate within specific policy guidelines.
Prioritize and organize assignments.
Handle multiple tasks simultaneously.
Qualifications:
Ten to fifteen+ years relevant experience with banks or other financial institutions, with particular preference for experience with third party relationship programs and associated regulatory guidance.
Thorough knowledge of the laws and regulations from regulatory agencies, and solid understanding of internal controls.
Bachelor's degree in a relevant discipline required. Advanced degree preferred. Professional certifications in risk management, audit, project management or investment management highly appreciated.
Additional Requirements:
Superior verbal and written communication skills.
Independent judgment and critical thinking.
Strong analytical and risk assessment skills.
Entrepreneurial spirit and attitude necessary to establish and maintain positive working relationships with all management and personnel.
Ability to communicate complex concepts with a diverse audience.
Superior Microsoft Office skills required, with particular emphasis on outstanding PowerPoint presentation and Excel skills.
Strong organizational and project management skills needed to handle the coordination of multiple priorities.
A wide degree of creativity and latitude.
The job description outlined above is considered a core list of job duties/requirements. This document should not be considered a complete or comprehensive list. The incumbent assigned to this position is required to perform the duties listed above. The incumbent is also expected to adapt to changes and/or additions as needed. Nothing contained within this document is intended or shall be construed to create or constitute a contract of employment between any employee or group of employees and Emigrant Savings Bank and its Subsidiaries. Emigrant Savings Bank and its Subsidiaries retains and reserves any and all rights to change, modify, amend, add to or delete from any section of this document as it deems, in its judgment, to be proper.
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Department: Risk Management
Reports To: Chief Risk Officer
Employment Status: Full-Time, Exempt
Office Location: Remote / Hybrid (NYC or Miami)
Job Summary
Reporting to the Chief Risk Officer (CRO), the Director of Third Party Risk Management plays a pivotal role in the advancement and maturation of the Enterprise Risk Management (ERM) function at Emigrant. The Director will be responsible for overseeing and managing the risks associated with third-parties (both strategic relationships and vendors), with a particular focus on partnerships with Fintech companies. This role will involve developing, implementing, and maintaining a comprehensive risk management framework to identify, assess, monitor, and mitigate risks that could impact the bank's operations and regulatory compliance. The Director will work closely with various departments within the bank, including Compliance, Legal, IT, and Operations, to ensure that all Fintech partnerships align with the Bank's risk appetite and regulatory requirements.
Essential Responsibilities and Duties:
Work collaboratively across the department and enterprise to advance the development of a robust third-party risk management framework, specifically tailored to Fintech relationships.
Maintain risk assessment methodologies and perform ad-hoc and ongoing risk assessments.
Assist in developing policies and programs related to third-party risk management, ensuring they reflect best practices and regulatory expectations.
Assist in designing key risk indicator (KRI) framework along with the calibration of thresholds across all risk dimensions.
Lead and advance the vendor risk management program.
Work closely with internal stakeholders, including Legal, Compliance, IT, and Business Units, to integrate third-party risk management into all aspects of Fintech partnerships.
Serve as the primary point of contact for all third-party risk-related matters involving Fintech relationships.
Develop and maintain risk management dashboards.
General Responsibilities:
Comply with all safety policies, practices and procedures. Report all unsafe activities to supervisor and/or Human Resources.
Participate in proactive team efforts to achieve departmental and company goals.
Perform other duties as assigned.
Provide leadership to others through example and sharing of knowledge/skill.
Receive very general guidance with respect to overall objectives; work is usually quite independent of others; operate within specific policy guidelines.
Prioritize and organize assignments.
Handle multiple tasks simultaneously.
Qualifications:
Ten to fifteen+ years relevant experience with banks or other financial institutions, with particular preference for experience with third party relationship programs and associated regulatory guidance.
Thorough knowledge of the laws and regulations from regulatory agencies, and solid understanding of internal controls.
Bachelor's degree in a relevant discipline required. Advanced degree preferred. Professional certifications in risk management, audit, project management or investment management highly appreciated.
Additional Requirements:
Superior verbal and written communication skills.
Independent judgment and critical thinking.
Strong analytical and risk assessment skills.
Entrepreneurial spirit and attitude necessary to establish and maintain positive working relationships with all management and personnel.
Ability to communicate complex concepts with a diverse audience.
Superior Microsoft Office skills required, with particular emphasis on outstanding PowerPoint presentation and Excel skills.
Strong organizational and project management skills needed to handle the coordination of multiple priorities.
A wide degree of creativity and latitude.
The job description outlined above is considered a core list of job duties/requirements. This document should not be considered a complete or comprehensive list. The incumbent assigned to this position is required to perform the duties listed above. The incumbent is also expected to adapt to changes and/or additions as needed. Nothing contained within this document is intended or shall be construed to create or constitute a contract of employment between any employee or group of employees and Emigrant Savings Bank and its Subsidiaries. Emigrant Savings Bank and its Subsidiaries retains and reserves any and all rights to change, modify, amend, add to or delete from any section of this document as it deems, in its judgment, to be proper.
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