Third Party Risk Analyst I

Job Location US-SD-Sioux Falls
Full Time


Track and process third party relationship and partner due diligence documents and associated risk related information in accordance with all bank, association, and regulatory rules.


Essential Functions

  1. Gathers due diligence documentation and completes the risk assessments for assigned third party relationships in accordance with the third-party risk management policy.
  2. Tracks and monitors the status of each due diligence review and communicates with the Relationship Manager to obtain missing items in a timely manner. Completes review in a timely and accurate manner.
  3. Drafts an initial risk assessment for new and existing third-party relationships in accordance with third party risk management procedures regarding assessments and level of risk. Analyzes new relationships as well as the impact of enhancements to the risk profile of existing relationships. Provides completed review packages to manager for further analysis and recommendations.
  4. Updates vendor tracking software and databases with risk assessments and related information to maintain a current record of activities.
  5. Develops and maintains awareness of 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 applicable regulations governing third party relationships.
  6. Responds to questions and concerns from third party clients about how they can meet the due diligence and/or risk related standards, e.g. type of materials they need to provide and/or how they can improve their existing documentation. Identifies, communicates and educates on the third-party risks inherent in the relationship as well as the rules and regulations.
  7. Is an advocate for the company’s third-party risk management program.
  8. Performs all activities in accordance with the departmental standards, policies and procedures.
  9. Develops a working knowledge of the company’s key operations as needed to ensure the quality of due diligence reviews and risk assessments. Asks questions and/or escalates issues to manager.
  10. Performs other duties as assigned.


Education/Experience Requirements

  • Undergraduate degree in a related field.
  • Two years association/regulatory rules, compliance, due diligence/underwriting and/or the prepaid card area experience.

Preferred Requirements

  • Previous knowledge and experience working in prepaid or a banking environment.
  • Proficient verbal, written, and interpersonal communication skills.
  • Strong knowledge of word processing and spreadsheet applications, e.g. MS Office and MS Outlook.
  • Detailed oriented and ability to prioritize and organize work.
  • Good problem-solving skills.

Background & EEO Statement

This information reflects the base salary pay range for this job based on current national market data. Ranges may vary based on the job's location. We offer competitive pay that varies based on individual experience, qualifications and other relevant factors. We encourage you to apply to positions that you are interested in and for which you believe you are qualified. To learn more, you are welcome to discuss with us as you move through the selection process.


Working at The Bancorp Bank, N.A. and Benefits Information: click here

Diversity & Background Screening

Diversity & Inclusion at The Bancorp Bank: click here


The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.


Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.


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