TPRM Ongoing Monitoring - Senior Manager

Role Summary

The Third Party Risk Management (TPRM) Ongoing Monitoring Officer is responsible for the implementation, oversight and management of the Ongoing Monitoring team. The Coordinator is responsible for certain execution and oversight activities under the Ongoing Monitoring pillar which is comprised of four components: performance measurement, periodic risk assessments, continuous risk and supplementary monitoring. This position will liaise with key stakeholders, subject matter experts and business lines to effectively manage risk across our third party population to meet State Street’s regulatory obligations.

Job Duties and Responsibilities

• Act as the Subject Matter Expert for Ongoing Monitoring process for both internal and external constituents
• Performs Ongoing Monitoring activities which includes, but is not limited to: third party contract monitoring (insurance, licensing and metrics validation), negative news monitoring, financial viability assessment coordination, and third party audit reports evaluation
• Manage the review of Sarbanes-Oxley requirements for in-scope third parties; coordinate with key stakeholders including business units, third party, and external auditor
• Liaises with corporate Subject Matter Experts (SME) to review gaps and identify issues as required
• Works closely with business lines/Engagement Managers to communicate requirements, gather performance management information and inform them of issues identified from Ongoing Monitoring activities
• Submits Ongoing Monitoring Findings into Archer and works with Engagement Managers/business lines to facilitate remediation of issues
• Develop and maintain procedures and controls for the Ongoing Monitoring pillar
• Working with the TPRM Communication Coordinator, assist with the development of communication and training requirements for key stakeholders to ensure ongoing monitoring activities are understood and implemented effectively
• Leads efforts to educate and communicate Ongoing Monitoring requirements and program changes to Service Managers and Business Advisors
• Conduct control sample testing on BU submissions and compliance with internal controls, policies and procedures
• Assists Ongoing Monitoring Lead with oversight responsibilities as required
  
• Produces Ongoing Monitoring reporting which includes analytics/trending across our third parties
• Coordinates in project management efforts which include identifying, documenting and testing Archer enhancements to support the automation of processes

• Maintain up to date procedure documentation and support during audits and regulatory inspections
• Support emerging TPRM program requirements in view of the evolving regulatory landscape
• Participate in project management efforts including tests of Archer system enhancements
• Flexibility in working outside of direct responsibilities to support emerging TPRM program requirement changes

Skills

• Proven subject matter expertise with first-hand experience of improving aspects of third party risk management in large, complex organizations
• Excellent interpersonal skills with the ability to influence others while maintaining diplomatic relationships across all levels of the organization (globally) and externally (third parties)
• Proven capability to network, communicate, influence and supporting stakeholders
• Excellent written and verbal communication skills, with the ability to influence stakeholders at all levels
• Ability to multi-task and operate in a fast-paced, deadline-oriented environment;
• Strong organizational and time management skills, ability to work independently, prioritize including when under pressure and to tight deadlines
• Must be self-motivated, adaptable and demonstrate initiative in difficult circumstances
• Proven ability to identify problems and work to successful resolution

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• Possess a strong customer centric mindset
• Demonstrate a willingness to support change and initiatives within the TPRM Program
• Innovative and critical thinking
• High ethical standards

Qualifications

• Overall work experience within financial services sector (12+ years)
• Management Graduate from an institute of repute preferred
• Prior experience in risk management roles in large multi-national banks
• Prior experience of 10+ years with third-party risk management in large multi-national banks
• Subject matter expertise and proven track record in managing third party risks
• Strong working knowledge of Microsoft Office products, including Word, PowerPoint and Excel
• Risk Management certification good to have - CRISC, CISM, CRVPM
• Prior experience with Archer / RSA platform is preferred

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