Job Description

17-1905
40
145 Bank Street-NH501
Waterbury
Connecticut

If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.

Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.

Summary

The Third-Party Risk Management (3PRM) Analyst reports directly to the Vice President of Third-Party Risk Management and manages the processes involving applications third-party relationships are managed through. The 3PRM Analyst maintains both the 3PRM database and 3PM portal and ensures data relevance and accuracy. The 3PRM Analyst acts as a liaison, providing support to both the business unit and third-party. The 3PRM Analyst responds to user inquiries and facilitates the due diligence process.

The primary objectives for the 3PRM Analyst are:

  1. Manage the activities involved with the third-party due diligence process.
  2. Act as the liaison between business unit and third-party, maintaining all appropriate documentation as set forth in Webster's 3PRM program.
  3. Effectively communicate and manage 3PRM processes to business units throughout the bank. Provide continuous improvement to all 3PRM policies and procedures.
  4. Conduct periodic Quality Control (QC) review activities to ensure third-party records reflect policy.  Identifies descrepancies and documents accordingly.

Responsibilities

  • Responsible for managing the day-to-day functionality of Third-Party Risk Management (3PRM) Program processes and procedures.
    • Maintains processes associated with 3PRM program.
    • Manages the daily activities involved in the third-party risk management system.
    • Responds to user inquiries, including assistance with the application, password resets, etc. associated with the third-party risk management program.
  • Creates and modifies key documents, including procedures that support the 3PRM program.
  • Evaluates and responds to all incoming messages received by the 3PRM general mailbox. Provides guidance wherever needed.
  • Facilitates the third-party on-boarding process including the classification and risk management processes associated with third-party due diligence process.
    • Maintain on-boarding due diligence pipeline report and manages onboarding calls with various stakeholders, ensuring quality and accuracy.
  • Educates internal and external users on the third-party risk management portal. Leads targeted user training, as necessary.
  • Maintains day to day oversight of the vendor managing Webster's certificate of insurance (COI) collection process; generates reports, and ensures program compliance.
  • Prepares and maintains compliance reports as required by third-party regulatory guidelines.
  • Escalates all complex or compliance issues to management.
  • Interacts with Sourcing Managers and various stakeholders regarding the due diligence and onboarding process.
  • Develops monthly operational reporting critical for managing the 3PRM activities, for 3PRM Committee and EMC leadership.
  • Uses regulatory and compliance related knowledge to manage internal and external third-party regulatory issues.
  • Communicates the framework of the 3PRM to all internal and external stakeholders.
  • Performs QC analysis on vendor records to ensure compliance and adherenace to policy.
  • Embody Webster's core values, taking responsibility for meeting customer's needs, respecting the dignity of every individual, earning trust through ethical behavior, giving of ourselves in the communities we serve, and working together to achieve outstanding results.

Job Skills

  • Effective time management and prioritization skills.
  • Strong analytical acumen and ability to interpret data and reporting.
  • Ability to lead cross-functional team meetings.
  • Proven history of effectively working with all levels of the organization.
  • Knowledge of Third-Party Risk Management processes and methodologies
  • Prior experience working in a regulated environment, or working with regulatory requirements and/or policies.

Education

High School / GED required

Bachelors preferred

Specialized training, a plus

*LI-CL1


Application Instructions

Please click on the link below to apply for this position. A new window will open and direct you to apply at our corporate careers page. We look forward to hearing from you!

Apply Online