TPRM Ongoing Monitoring – Assistant Vice President

Role Summary

The Third Party Risk Management (TPRM) Ongoing Monitoring Assistant Vice President role is responsible for coordinating and executing activities under the TPRM Ongoing Monitoring pillar which comprised of four components:  performance measurement, periodic financial viability and SOC risk assessments, continuous negative news and supplementary monitoring.  This position will liaise with key stakeholders, subject matter experts and business lines to effectively manage risk across our third party population to meet State Street’s regulatory obligations.

Job Duties & Responsibilities:

• Perform Ongoing Monitoring activities which includes, but is not limited to: third party performance monitoring, negative news monitoring, financial viability assessments, maintain engagement book of records and third party audit reports (SOC1 and SOC2) evaluation
• Work closely with business lines/Engagement Managers to communicate program requirements towards Negative Performance Monitoring, News Screening, SOC Attestations and Financial Viability Assessments
• Review news alerts received through monitoring tools like World Check and Rapid Ratings on a daily basis and escalate potential negative news alerts to Business stakeholders and track the same for impact/no impact
• Work with Engagement Managers and have them record SOC CUEC attestations in Archer
• Monitor Financial Health of third party suppliers and escalate third parties with poor financial health to relevant Engagement Managers for impact assessment
• Liaise with Engagement Managers/Service Managers to get them to record third party performance management information in Archer and assist them to open findings in Archer if required
• Liaise with corporate Subject Matter Experts (SME) to review gaps and identify issues as required and facilitate issues management and remediation plan.
• Work with Business to manage Engagement Book of Record (EBOR) in Archer which includes contract mapping, contact updates, insurance attestations, Payee type validation, Affiliation related activities
• MIS reporting which includes analytics/trending for Ongoing Monitoring activities across our third parties
• Participate in project management efforts which include process and system enhancements to support the automation of processes
• Flexibility in working outside of direct responsibilities to support TPRM program requirements as they emerge
• Ensures business compliance with TPRM program requirements by supporting Engagement Manager where necessary

Skills:

• Highly motivated individual with the ability to multi-task, operate in a fast paced, deadline-oriented environment
• Must be adaptable, self-driven and demonstrate initiative in different circumstances
• Strong organizational and problem solving skills with a focus on attention to detail
• Data analysis driven with strong Excel and Reporting skills
• Assist in managing third party risk data analysis
• Critical thinking, problem solving, and decision making skills with the ability to execute independently
• Strong verbal and written communication skills
• Possesses a customer centric mindset

Qualifications

• Post graduate degree in preferably Finance/Risk management with 14+ years’ of work experience preferably in the financial services/large banks/multinational companies.
• Previous experience with third party risk management program covering different life cycle stages, specifically ongoing monitoring activities.
• Strong knowledge of Microsoft Office products, including Word, PowerPoint and Excel and advanced reporting tools like Power BI,
• Exposure to MS Power Apps, SharePoint is preferred
• Prior experience with Archer/RSA platform is preferred

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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