Vendor Risk - Associate

Role Description

Measure gross and net exposures across differing types of third-party services and vendors. Model expected business impact from vendor risks on the current, expected, and future exposures. Establish threshold for vendor risk across several elements including operational impact, sensitivity of information shared, scope of partnership, alternative resources, etc., depending on risk appetite. Monitor threshold and suggest remedial actions. Establish procedures for accepting vendors and establishing transaction terms, limits, and net exposure.

Role Objectives: Delivery

Measure gross and net exposures across differing types of third-party services and vendors. Compare current position to thresholds for vendor risk across several elements including operational impact, sensitivity of information shared, scope of partnership, alternative resources, etc. and highlight exceptions. Update model for changes in transaction levels, market conditions and risk appetite. Calculate vendor exposures and potential losses for regulatory reporting including capital adequacy. Perform testing / due diligence to ensure individual vendor transactions and dependencies conform to exposure limits, collateral requirements, and transaction terms.

Role Objectives: Interpersonal

Develop relationships with client-facing units to better understand the risks in their businesses, the instruments they handle, and their vendor relationships. Develop relationships with other units such as finance, compliance, legal and IT to improve workflows and data gathering / sharing. Begin to network within industry through meetings, events and involvement with trade organizations to better understand emerging risk trends.

Role Objectives: Expertise

Demonstrate a basic knowledge of the market and risk policies to ensure that all vendor agreements are viable and contain adequate safeguards to meet risk management objectives. Demonstrate a fundamental understanding vendor risk and current practices in the market. Have a general understanding of information technology and project management to best partner with colleagues in the ongoing tracking of vendor risks for new and existing clients / products and to create meaningful modeling and analysis. Apply modeling and analytical skills to create meaningful measurement and reporting on key risk exposures. Communicate analytical data effectively.

Qualifications and Skills

Recommended years of experience: 3

Additional Requirements