VP Third Party Risk Management
145 Bank Street-NH501
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.
This position provides leadership of the Third Party Risk Management (3PRM) Program and team reporting directly to the SVP, Chief Procurement Officer. This role supervises three direct reports.
S/he is responsible for leading the program that provides enterprise wide oversight to 3PRM activities to ensure regulatory compliance, third-party performance management and risk management in a decentralized third-party (vendor) management organizational model. S/he is a catalyst for continuous improvement, educational training, and maintains the standards, procedures and key performance metrics for this program.
The primary objectives of this role are to
- Be the Third Party Risk Management Program Leader and Ambassador
- Provide oversight, thought leadership and action to Program Governance activities
- Provide oversight and thought leadership to advance our Technology Solution(s) and processes for required governance activities and user adoption.
- Provide Team Management of Direct Reports and 2nd Line Risk Owners
Responsibilities for each objective are:
Program Leader and Ambassador
- Communicate the framework and act as the liaison between internal and external stakeholders, supporting the requirements established in Webster's Third-Party Risk Management Standard.
- Interact and maintain partnerships with internal 2nd Line Risk Owners to ensure program alignment, and a standardized approach to managing third-party risk across the enterprise.
- Interface with federal regulators; maintain relationships with key regulatory resources and respond to new regulatory requirements.
- Manage and respond to complex third-party issues or compliance matters.
- Participate in industry conferences and peer groups to remain on top of industry trends (e.g. RMA Roundtables, MAAG, etc.)
- Program oversight to ensure Third-Party Risk Management Standard adherence
- Maintain and/or advance the 3PRM Standard to align with regulatory changes
- Provide oversight to the third-party on-boarding process including the classification, due diligence and risk management processes
- Ensure escalation of issues to management when appropriate
- Periodically review and oversee the modifications to functional procedures ensuring accuracy and alignment with program enhancements
Chair Webster's Third Party Risk Management Committee
- Work with Committee Secretary to author meeting agenda, prepare and/or review materials
Provide periodic updates to executive leaders and operational risk management committee(s)
- Quarterly updates to the Executive Risk Management Committee
- Develop strategy materials and presentations for executive management and Board of Directors
Technology Solutions and Program Operations
- Provide vendor management oversight for the 3PRM technology platform provider.
- Ensure the platform and related processes are properly designed, tested and implemented to meet documentation and program requirements, in addition to user adoption by more than 750 internal and external users.
- Develop and oversee operational and KRI reporting which supports various aspects of the 3PRM program.
Team Management of Direct Reports and 2nd Line Risk Owners
- Lead a team of three 3PRM governance professionals who perform assessments and quality assurance, program oversight and technology operations.
- Partner with all 2nd line Risk Owners who develop and maintain Standards associated with their risk area.
- Educate and inform a decentralized population of third-party Relationship Managers. Drive continuous improvement and program awareness through educational and training programs
- Undergraduate degree in Risk Management, Procurement, Supply Chain Management, Finance and/or Business required. MBA or graduate degree in related field preferred.
- 10+years of related experience in and with Third-Party Risk Management processes, methodologies, and third-party regulatory guidelines
- Strong technology knowledge and skills with database management and 3PM platforms.
- Demonstrated record of accomplishment in negotiating complex contracts and supplier execution.
- Advanced analytical skills with thought leadership to drive strategy development and execution.
- Strong alignment skills with the ability to communicate vision and gain alignment with senior management both internally and externally.
- Proven decision-making, problem solving skills, and organizational skills.
- Demonstrated ability to work in a fast-paced, results-oriented environment.
Job Reference #: 5000323856406