Third-Party Risk Oversight Manager - Needham Bank

The Third-Party Risk Manager is a key second line function that reports to the Director of ERM. The position will provide oversight and review of the Company’s Third-Party Risk Management (TPRM) program, ensuring all third-party relationships are properly assessed, managed, and monitored throughout the third party’s lifecycle. The program’s design is to ensure that Bank management fully understands and manages the risks posed by the third-party, and that both centralized and distributed vendor management responsibilities are executed in line with regulatory expectations, best practices, and SOX-related requirements.

The second line role will collaborate with all business lines and support functions to effectively monitor/test vendor management practices across the Bank. The position will build key partnerships with stakeholders from the Bank’s many “vendor owners,” the centralized Vendor Management Department, IT, Legal, Project Management, and Compliance to ensure comprehensive, cross-functional risk assessments are performed.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Lead and drive the Company’s TPRM Program, including, but not limited to:
  • Setting TPRM policies and standards, ensuring alignment with Regulatory requirements and expectations, best practices, and requirements related to internal controls over financial reporting.
  • Educating business lines on the Company’s TPRM practices and roles and responsibilities.
  • Monitoring and reporting on business line adherence to the TPRM Program.
• Collaborate with business lines to build comprehensive third-party risk assessments, and ensure that procedures and monitoring protocols are appropriately instituted across the company.
• Using a risk-based approach, define appropriate initial and ongoing due diligence needed to manage the risk associated with third parties, as well as select fourth parties as needed.
• Ensure that vendor owners are collecting, analyzing, and drawing appropriate conclusions based on the required the due diligence.
• Oversee investigations into incidents and issues, ensuring the third-party remediates issues in a timely and satisfactory manner.
• Develop and present risk mitigation strategies and recommendations to relationship owners and other key stakeholders.
• Develop, maintain, and report specific TPRM metrics to Senior Management to drive visibility and accountability.
• Continually stay abreast of emerging or changing Regulatory guidance, ensuring best practices are assessed and implemented into the TPRM Program in a thoughtful manner.
• Manage specific third-party monitoring work, such as the support of cash-to-sales reconciliations for Marijuana Related Businesses and check-cashing activities of Money Services Businesses.
• Lead and mentor TPRM analysts. Manage and oversee the work of analysts, ensuring quality and timeliness of their work product.

JOB REQUIREMENTS

• Highly-motivated and driven professional who can handle multiple, cross-functional tasks, adapt to change, and work well with all levels of management in a dynamic and fast-paced environment – independently and in a team.
• Deep knowledge of third-party risk management practices, regulatory guidelines, and impact on internal controls over financial reporting.
• Experience managing the work of other employees.
• Superior written and verbal communication skills, including the ability to influence senior management.
• Strong customer service orientation and problem-solving skills.
• Demonstrated analytical skills with strong attention to detail, accuracy, and completeness.
• Strong computer and technical skills and the ability to quickly learn and apply new technology.
• Experience working with a Governance-Risk-Compliance system preferred.
• Proficient with the Microsoft Office suite (including Word, Excel, PowerPoint, and Visio).
• Demonstrates and promotes high ethical standards and behaviors.
• Maintains a professional manner at all times.
• Exhibits a culture of teamwork, transparency, and collaboration.
• Ability to demonstrate Needham Bank’s Core Values (Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to your Community, Always Learn, Do the Right Thing).

EDUCATION & EXPERIENCE

• Minimum 5+ years’ experience in a third-party risk management or similar role at a financial institution or other highly-regulated industry.
• Minimum education requirement: Bachelor’s degree
• Professional certification (CIA, CRMA, CERP, CTPRP, CTPRA, CRCM) or desire to pursue certification preferred.

WORKING CONDITIONS/PHYSICAL DEMANDS

• Normal business office environment

Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.

At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn’t align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.

Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.