Third-party Risk Management Analyst - McLean, United States - PenFed Credit Union

PenFed Credit Union

Verified Company

McLean, United States

3 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

Overview

Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities.

We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members "do better." Joining PenFed is more than being an employee; it's about being a part of the PenFed family.

PenFed is hiring a (Hybrid) Third-Party Risk Management Analyst at our Tysons, Virginia location. The primary purpose of this job is to support the overall management of PenFed's third party risk program.

The TPRM Analyst will serve as a third party risk management liaison to PenFed's internal lines of business with responsibilities to include, but are not limited to, scheduling, analyzing key service providers, monitoring, and managing on-going third party risk assessments, vendor scorecards, and project management.

Responsibilities
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

Plan PenFed's key service providers risk assessments and due diligence reviews designed to achieve engagement objectives involving PenFed's operational lines third party relationships.
Perform an analysis of all new relationships as well as the impact of enhancements to the risk profile of existing third party relationships and uses judgement to determine the third party inherent risk and due diligence requirements.
As a team leader or individual request due diligence documentation for the appropriate risk rating and/or product or service from the PenFed business owner and third party. Upon receipt of requested documentation evaluate for completeness, risk management and control processes are operating as intended and in compliance with applicable laws and regulations. If documentation does not satisfy our requirements, request followup documentation as needed.
Must be able to think analytically and critically to adjust risk assessment ratings, due diligence documentation, and develop mitigation requirements based on the due diligence artifacts and SME specifications. Develops recommendations for management and monitors remediation plans.
Maintains knowledge of regulatory compliance and assess upcoming regulatory changes for assigned business lines to determine the impact of their third party relationships.
Develop and maintain working knowledge of third party risk management requirements, regulatory guidance and industry best practices.
Participate as a third party risk management SME for new key service providers projects to ensure all risks are considered and appropriate level of risk assessment and due diligence is performed. Participate in system demonstrations and facilitates third party client reference check calls.
Maintain communication with management on identifiable risks and remediation plans.

Qualifications
Equivalent combination of education and experience is considered.

Bachelor's Degree or equivalent combination of education and related work experience is required.
A minimum of three (3) years' related financial institution compliance, audit, or third party risk management experience is preferred.
Must be able to demonstrate analytical and critical judgment to adjust documentation and mitigation requirements based on the requirements of each situation.
Comprehensive knowledge of Third Party Risk Management methodologies and regulatory guidance.
Demonstrate ability to work independently in a highly visible position.
Intermediate knowledge of consumer banking laws and regulations (i.e. NCUA, FFIEC, OCC, CFPB, UDAAP) and how they are applied to third party relationships
Proven ability to balance multiple priorities, adapt to constantly changing business environment, work independently, drive projects to completion, and meet deadlines in a fast paced environment.
Strong computer skills, including MS Office products (e.g. Word, Excel, PowerPoint, Visio).

Licenses and Certifications

Certified Regulatory Vendor Program Manager (CRVPM) or willing to become certified.
NAFCU's NCCO designation or willing to obtain certification.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.

Travel
Limited travel to various worksites is required.

About Us

Established in 1935, PenFed today is one of the country's strongest and most stable financial institutions with over 2.8 million members and over $36 billion in assets.

We serve members in all 50 states and the D