What are the responsibilities and job description for the Third party risk position at MassMutual?
The Opportunity
The Third Party Risk Management Consultant is a member of the Third Party Risk Management (TPRM) team within Enterprise Risk Management (ERM).
The Team
The TPRM team is a second line of defense function whose main responsibility is to create and manage the policies, processes and procedures that govern the TPRM program on an enterprise-wide level.
As an oversight and compliance function, the group normally works with the various risk SMEs, including, but not limited to, Compliance, Procurement, Cyber Security, Privacy, Data and AI Governance and Enterprise Resiliency to implement and maintain a third-party risk assessment process that is in alignment with best practices and regulations.
The Impact
This role supports Third Party Risk Management Framework. In this role you will :
- Partner with first line of defense to ensure third party risks identified issues are appropriately captured, assessed and mitigated to acceptable levels.
- Assist in developing strategy, roadmap and change management for the Third Party Risk Management program as it continues to mature, including people, process and technology.
- Collaborate with management in design, maintenance, and reporting of Key Performance and Key Risk Indicators; utilize data and reporting to evaluate adherence to program within 1LOD and 2LOD to identify opportunities and best practices to influence risk taking activities in alignment with risk appetite.
- Lead and oversee third party risk projects, as assigned.
- Collaborate with the Head of Procurement Risk in the development and implementation of the Procurement first line of defense;
provide short-term first line of defense coverage until transition is complete.
- Consult with management to help resolve complex third party issues and represent Enterprise Risk Management with critical third party incidents.
- Identify and mitigate risks, gaps and errors in a way that fosters learning, development, and innovation.
- Continuously monitor the regulatory landscape for opportunities for TPRM Framework improvement.
- Educate Supplier Relationship Managers on the Third Party Risk Management Framework and their roles and responsibilities and help drive accountability and engagement.
Minimum Qualifications
5 years experience with third party risk management or operational risk management.
Ideal Qualifications
- Bachelor’s degree.
- 5 years experience with third party risk program management and risk assessment methodologies, internal controls, processes, and principles, preferably in financial services.
- Experience with eGRC (e.g. Archer) and ProcessUnity.
- Experience in risk consulting.
- Strong analytical, critical thinking, and problem-solving skills.
- Comfortable working collaboratively across the organization in a complex, dynamic and continually evolving business environment.
- Experience and confidence with communicating to senior leadership.
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Salary Range :
$118,900.00-$156,000.00
At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees.
Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.
Why Join Us.
We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority.
In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services.
To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone.
A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits.
And your voice will always be heard.
We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first.
It’s more than our company structure it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts.
At MassMutual, we Live Mutual.
MassMutual is an Equal Employment Opportunity employer Minority / Female / Sexual Orientation / Gender Identity / Individual with Disability / Protected Veteran.
We welcome all persons to apply. Note : Veterans are welcome to apply, regardless of their discharge status.
If you need an accommodation to complete the application process, please and share the specifics of the assistance you need.
At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees.
Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.
For more information about our extensive benefits offerings please check out our
Last updated : 2024-04-08
Salary : $118,900 - $156,000
