Third Party Risk Support & Ongoing Monitoring Analyst
Work within a team of Third-Party risk support and ongoing monitoring analysts. Provide oversight to lines of business for risk assessment and ongoing performance management activities. Contribute to the design and implementation of a performance management program. Support lines of business on audit, regulatory, and compliance requests. Support the strategic direction for Third-Party Risk Management and strategies to changing circumstances as required. Contribute to the design and implementation of an analysis process and produce reports with metrics program throughout the lifecycle. Contribute to the development of program documentation and training.
Lead the management of system data maintenance (Supplier Manager role changes, etc.).
Position Responsibilities:
Ongoing Monitoring Oversight
Review supply agreements, contractual terms, and relationship management oversight requirements.
Develop an understanding of line of business operations, their complexities, trade-offs and impacts when outsourcing products and services.
Create and manage the framework for key metrics or key performance indicators, associated with outsourced services. Provide oversight of the management activities, evidence of management, and documentation and remediation of identified issues.
Provide evidence to share with appropriate Senior Management awareness/oversight for follow-ups on action items, to resolve identified issues.
Support opportunities for process improvements to deliver increasing operational efficiency in the Third-Party monitoring oversight processes.
Become familiar with the analysis of highly complex business problems and regulatory requirements that are part of operating in the financial industry.
Support processes and controls to continuously enhance Third-Party oversight program and help to develop new ideas.
Share with manager common issues and help find innovative solutions supporting line of business teams to achieve business objectives and management of suppliers.
Assist in identifying technology and automated process opportunities to enhance tools to support Third-Party management and regulatory changes.
Assist business owners in managing Third-Party risks throughout all phases of the relationship life cycle.
Monitor and review Third-Party performance reports prepared by business users and provide challenges if there is no evidence to support responses as well as remediation efforts for missed performance agreements.
TPR Archer Process, Training & Process Oversight
Assist in identifying systemic improvements based on analysis of late data, issues, business unit complaints, surveys, etc.
Contribute to the development and administration of the ongoing Supplier Manager training and job aids for process and system (Archer).
Conduct quality assurance activities for inherent risk questionnaires, due diligence questionnaires, supplier performance reviews, exit strategies, and other process artifacts.
Assist with the development of program documentation (policies, procedures, frameworks) for all Third-Party Risk Assessment and Ongoing Management activities.
Assist with the semi-annual supplier manager forum and continuous training presentations.
Review Annual Compliance Based Training Content for required updates and launch training for new hires and relationship managers. Provide annual training requirement list for current relationship managers.
Assist contract owners with maintaining relationships with the third parties to ensure compliance, requesting audit, tests or other evidence requests are done timely.
Assist in maintaining an inventory of in-scope Third-Party artifacts and report their compliance status as required by stakeholders, management, review boards, regulatory bodies, and auditors as necessary.
Lead the training of relationship owners on TPRM Archer process and program requirements for supplier lifecycle management.
Project Management
Share information, transfer knowledge and expertise to team members and lines of business during projects and business requirement reviews.
When called upon, present TPR program during regulatory and audit examinations.
Support risk assessment process, ongoing review requirements, performance management, and oversight opportunities. Educate first line of defense, risk areas, and other partners on consistent documentation and requirements of evidence to facilitate common approaches.
Assist project manager for responses to audit and regulatory findings.
Oversight Assessment Processes
Complete oversight activities to ensure management initiatives, such as risk reviews, open findings and QA audits are completed accurately.
Participate and support the Risk Assessment team in the implementation of strategic change with and enhancements.
Support the Third-Party risk assessment framework for the bank and present updates/enhancements/changes to Divisions as required.
Conduct sample quality reviews of first and second line of defense analysis to identify potential concerns as part of the onboarding process for new Third-Partys and current Third-Partys during reassessment.
Track all open issues within Divisions of oversight and ensure their timely closure and launch reassessment.
Provide oversight to contract owners and relationship managers guide new and existing Third-Party relationships through the Third-Party onboarding due diligence process, including completion of IRQs (inherent risk questionnaires), ensuring DDQs (due diligence questionnaires) are completed timely and accurately, and any applicable supplemental risk requirements.
Analyze Risk Area Control Effectiveness Ratings for gap in controls and work with supplier managers with addressing the risk acceptance or remediation... For full info follow application link.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
