Third Party Risk Management Job description Role & responsibilities • Should be able to develop and manage a comprehensive third party risk management framework / program. • Should be able to drive regulatory compliance / remediation programs such as Digital Operational Resilience Act (DORA). • Should be independently able to manage third party due diligence including initial risk assessments and ongoing monitoring. • Contribute to governance and facilitate remediation recommendations of related risks, deficiencies, gaps or issues, advice with identifying compensating controls alternative where compliance requirements cannot be met. • Document and present overall residual risk to higher management for approvals and risk acceptances. • Interact with vendors, business, and multiple stakeholders to assess, explain and remediate the risks identified. • Ongoing monitoring activities such as performance monitoring, contractual compliance, SLA/KPI adherence, negative news monitoring etc. • Test design and operating effectiveness of TPRM controls, identify gaps and recommend improvements. • Support key reporting activities associated within key functions. Perform adhoc IT risk analysis and reporting. Technical/Functional Skills • Relevant experience in TPRM (Program/Framework level) • Knowledge of Broader Operational Resilience / Tech Resilience Framework / Programs • Expertise in Third Party Risk Assessments • Expertise in cyber security including standards such as ISO27001, PCI-DSS, ISO 22301 etc. • Experienced in review of SSAE18, SOC 2, HITRUST, SIG and CAIQ reports. • Understanding of application and network security and should understand penetration testing and scan reports. • Knowledge of key TPRM regulations such as DORA, OSFI – B10, FCA FG 16/5, PRA SS2/21, FFIEC, EBA Guidelines etc. • Strong audit / control testing skills are desirable. • Certifications such as CTPRP, CTPRA, CRVPM, CRISC, CISA, CISSP are good to have. • Experience 6 to 15
