Third Party Risk Analyst - Onboarding

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Job Description:

At Regions, Risk Analyst performs intermediate to advanced risk analyst duties as a 1st or 2nd line of defense function for the bank under moderate supervision. This Risk Analyst will coordinate with internal and external parties to conduct financial reporting, controls, policy and procedure documentation, governance activities, and regulatory compliance. Additionally, the analyst will develop and implement independent reporting and/or financial analysis to assist in the Risk team’s oversight role. This role will also assist in improving and providing regular updates of various practices, reports, policies, and procedures within the department.

The Onboarding Risk Analyst within Third Party Risk Management (TPRM) plays a pivotal role in supporting the program stakeholders by providing guidance on the Third-Party Program and Framework.  The role is also instrumental in the execution of TPRM Quality Assurance (QA) and Quality Control (QC) procedures.

Primary Responsibilities

• Provide guidance and support to stakeholders on the execution of an effective TPRM program
• Aid in design and execution of QA procedures to ensure consistency and accuracy of vendor inventory
• Communicate the QA points, as well as rationale, to the stakeholder and ensure timely resolution
• Adhere to internal SLA for QA performance, to ensure continuous progression of due diligence s and approvals
• Assist Business Units with Business Led Third Party (BLTP) formation and provide guidance on the approval process
• Provide Administrative Support to Business Units regarding the TPRM process, including oversight of the workflow process with identification of issues and escalation matters.
• Build an advanced understanding of Subject Matter Expert (SME) processes and procedures through performing Quality Control(QC).  Use QC process to effectively challenge SME performance.
• Ability to solve more complex problems and consistently provides possible solutions
• Builds knowledge of the organization, processes and customers, specifically, identifying ways to build efficiencies with other risk disciplines and a proposed plan to execute efficiencies.
• Build ability to form conclusions and solutions to problems before approaching the manager and the ability to execute on proposed decisions.
• Drive report creation and information from the Archer eGRC Platform to deliver meaningful and timely information to stakeholders that can aid in stakeholder’s management of vendor relationships.
• Contribute to the design and review of new tools and systems while leading teams through User Acceptance Testing (UAT) and data validation.
• Obtain and maintain necessary training to keep current on the discipline of Third Party Risk Management.

*This position is exempt from timekeeping requirements under the Fair Labor Standards act and is not eligible for overtime pay. 

Requirements

• Bachelor’s Degree in Risk Management, Business Management, Finance or related degree
• Five (5) years related experience

Skills and Competencies

• Self starter with the ability to work independently
• Knowledge of the TPRM process and Archer eGRC Platform
• Analytical thinker with the ability to transfer ideas and best practices between projects
• Ability to develop and communicate a point of view on responsibilities or issues that arise
• Effective Communicator with the ability to demonstrate command of the TPRM program
• Ability to build strong partnerships with stakeholders (Business Units and SMEs)

Position Type

Location Details

Location:

EEO/AA/Minorities/Females/Disabled/Veterans