Risk Management Professional
1 day ago
Third Party Risk Management Lead
The Third-Party Risk Management Lead oversees and manages the organization's third-party risk management program. This role involves evaluating and mitigating risks associated with any third-party engagements, including suppliers, vendors, contractors, government bodies, entities, and other partners.
Main Responsibilities:
- Develop and implement a comprehensive third-party risk management framework, policies, and procedures.
- Establish risk assessment methodologies and criteria for evaluating third-party vendors.
- Ensure the TPRM program aligns with the organization's risk appetite and regulatory requirements.
Risk Assessment and Mitigation:
- Conduct thorough risk assessments of third-party vendors, including due diligence and ongoing monitoring.
- Identify potential risks (e.g., operational, financial, reputational, compliance) and develop mitigation strategies.
- Collaborate with internal stakeholders to ensure risk mitigation measures are implemented effectively.
Vendor Management:
- Establish and maintain relationships with third-party vendors and partners.
- Conduct periodic/ad hoc reviews and compliance audits of third-party vendors to ensure adherence to organizational standards.
- Implement continuous monitoring processes to track third-party risk indicators.
Regulatory Compliance:
- Stay updated on relevant regulatory requirements and industry best practices related to third-party risk management.
- Ensure the organization complies with applicable laws, regulations, and standards.
Training and Awareness:
- Develop and deliver training programs to educate internal stakeholders on third-party risk management policies and procedures.
- Promote awareness of third-party risk management across the organization.
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