The Bancorp Bank

Sr. Relationship Analyst - Third Party Risk

US-SD-Sioux Falls | US-DE-Wilmington
Type
Regular Full-Time

Overview

Assist in the overall risk management of, and serve as a third party risk management liaison to, The Bancorp’s internal lines of business located in the U.S. Responsibilities include, but are not limited to, analyzing, monitoring and managing on-going tracking forms, risk assessment forms, contracts, risk scorecards, and on-going communication.  

Responsibilities

  1. Assist with the risk assessment/due diligence of all business relationships, including partners, program managers, service providers and all other defined third party relationships. Analyze new relationships as well as the impact of enhancements to the risk profile of existing relationships.
  2. Complete risk assessment forms and scorecards for new and existing third party relationships in accordance with departmental guidelines regarding assessments and levels of risk.
  3. Develop and maintain a working knowledge of enterprise risk management, FDIC Financial Institution Letter 44-2008: Third Party Risk Guidance for Managing Third Party Risk and FDIC Financial Institution Letter 3-2012: Payment Processor Relationships Revised Guidance, as well as all applicable regulations governing third party relationships.
  4. Identify, communicate and monitor third party risks inherent in each line of business. Be an advocate for the company’s Third Party Risk Management program.
  5. Work closely with internal and external partners to build knowledge and understanding of the various unique lines of business to properly assess, discuss and communicate risks.
  6. Update vendor tracking software and databases with risk assessments, scorecards, and related information to maintain a current record of activities and issues.
  7. Update and maintain departmental procedures to ensure an accurate record of processes and procedures exists to support audits. Discuss changes as needed with management to ensure the quality and consistency of third party risk activities.
  8. Create and present reporting to various levels of management on third parties and the risks associated through the bank’s relationship with third parties.
  9. Maintain and train upon the Third Party Risk Management policies and procedures.

Perform other related duties as assigned

Qualifications

Education/Experience:

  • An undergraduate degree in a related field or an equivalent combination of training and experience.
  • A minimum of 4-6 years related bank compliance or third party risk management experience.
  • Experience should cover reviewing due diligence documentation, contracts and general business communications for accuracy and clarity.

 

Other Qualifications:

  • A basic knowledge of consumer banking laws and regulations (i.e. FDIC, OCC, CFPB, UDAAP, AML)
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical, organization, problem-solving and decision-making skills
  • Ability to work independently in a highly visible position

The Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, among other things, or status as a qualified individual with disability

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