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- Lead the identification of critical third and fourth parties, including counterparties, and promptly escalate any arising issues during the due diligence phase.
- Conduct reviews and provide approval for new counterparties, involving financial analysis to assess the creditworthiness of potential trading partners.
- Daily monitoring of counterparties using the firm's counterparty dashboard, and generation and dissemination of the daily counterparty exposure report.
- Ensure accurate mapping in the counterparty exposure dashboard, maintaining data integrity and incorporating new counterparties and third parties for ongoing reviews.
- Establish a framework for evaluating the risk of the firm's key third parties in alignment with the TPRM framework, encompassing key brokers/counterparties.
- Evaluate the financial health and creditworthiness of significant and critical third parties as part of the due diligence program.
- Generate ad hoc reports on counterparty exposures, including OTC derivative reports, registered fund counterparty exposures, private fund exposures, and reports on money market sweep vehicles utilized.
- Conduct semi-annual CAMEL reviews of counterparties with higher exposure.
- Supervise risk assessments and tiering of all new Third Parties; ensure ongoing assessments for existing Third Parties are in place.
- Collaborate with business leaders to ensure accurate inclusion of all Third Parties in the TPRM program.
- Regularly engage with business leaders to stay informed of changes in Third Party relationships; ensure thorough due diligence, monitoring, and escalation to appropriate channels.
- Collaborate with Business Continuity and Global Technology teams to conduct Business Impact Analysis reviews, identifying potential impacts on business operations if Third Party services are interrupted; contribute to developing plans to mitigate these impacts and ensure operational continuity.
- Partner with the procurement function to establish Third Party engagement standards.
- Develop KPIs/KRIs with internal BRMs and SRMs and ensure these internal stakeholders complete necessary due diligence reviews in line with TPRM program requirements.
- Maintain a watch-list for third parties flagged due to operational weaknesses, events, or issues.
- Ensure compliance with all policies and procedures related to Counterparty Risk and TPRM.
- Implement program enhancements in response to changing industry, client, and regulatory requirements.
- Handle client onboardings with specific counterparty management requirements and collaborate with the ISDA team as needed.
- Participate in and contribute to Best Execution reporting/committees.
- Address ad hoc requests such as RFPs, regulatory inquiries, audits, and due diligence reviews of counterparties and Third Parties as applicable.
MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.The Successful Applicant
- Five or more years of direct experience in Counterparty Risk or Third Party Risk Management (TPRM) within an asset management firm or similar financial institution.
- At least a decade of overall industry experience.
- Proficient in financial statement analysis, especially in financial institutions and technology companies; possession of FRM or CFA certification is advantageous.
- Knowledgeable about global regulations and guidelines concerning TPRM and outsourcing, such as Irish CP138, Fed/OCC guidance, and MAS outsourcing third-party risk.
- Technical comprehension of investment products and strategies; familiarity with Aladdin and registered fund regulatory limits (UCITS) regarding counterparty exposure is beneficial.
- Proficiency in utilizing a Bloomberg terminal and experience with Bloomberg API.
- Comfortable analyzing and handling large datasets; advanced Excel skills are preferred.
- Technical proficiency in data visualization and report creation using tools like Tableau, PowerPoint, etc.
- Highly motivated, self-starting, and independent individual; inclined to delve deeper during counterparty and Third Party reviews.
- Demonstrated ability to collaborate with multiple stakeholders and manage conflicting priorities effectively.
- Possesses a keen attention to detail and maintains a high level of accuracy.
- Confident communicator capable of tailoring messages to various audiences and levels of seniority. What's on Offer
- Industry leading 401k plan
- Strong employee retention
- Inclusive environment
- Strong potential for growth
- Extensive exposure
- Plentiful learning opportunities
VP - Third Party Risk Management - New York, United States - Michael Page
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About Our Client
Top US Investment Management Firm
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