Specialist, Bank Vendor Risk
Comenity Capital Bank’s Risk Organization is focused on cultivating a strong, unified culture that embraces a sense of personal and team accountability for developing and implementing the highest standards of risk, governance and control across the company.
Operational and Compliance risks are present as we design and deliver our products and services, through all of our functions, channels, programs, and processes.
As the bank works closely with our affiliated and unaffiliated service providers/vendors and other strategic partners, we are expected by banking regulation and guidance to maintain a high level of transparency and oversight to ensure that operational legal/compliance and reputational risks are well understood and properly managed. As a result, the assets of the bank are always protected, and the responsibility and commitments to customers and clients are adhered to.
This role will be part of the Bank Risk Organization, a second line of defense function, and will report to the leader of Vendor & Strategic Partner Risk Management Oversight. This role will work with the Enterprise Risk Management organization and support the leader on behalf of the banks for oversight of the end to end vendor management process and practices to ensure compliance with regulatory and program requirements and the reduction of risks associated with third party vendors.
Reports toManager, Vendor & Strategic Partner Risk Management
Essential Job Functions
- Support the vendor risk management, monitoring and reporting of third-party relationships for the bank.
- Collaborate to maintain oversight and management of an effective vendor risk management program for direct or indirect vendors of the banks.
- Support the leader to oversee contracting of third parties to support bank business processes, identify those that involve critical activities.
- Ensure appropriate due diligence is conducted on potential third parties.
- Ensure third parties respond to issues when identified, and escalate significant issues.
- Ensure appropriate documentation and riskreporting for the banks throughout the life cycle for third-party relationships.
- Build strong relationships with strategic partners and support the leader to manage, coordinate, and conduct oversight activities, which are customized based on the type of strategic partnership.
- For strategic partnerships, participate to conducting upfront due diligence which may involve elements of project management, capturing meeting notes/minutes and deliverables, reviewing documentation from the Strategic Partner, conducting risk assessments and/or risk analyses, reviewing reports, recommending risk mitigation strategies, recommending ongoing oversight strategy and activities to business partners and owners of otherrisk pillars, etc
- Receive and oversee SLA reporting to or from Strategic Partners. Document SLA performance in the Bank’s system of record.
- Bachelor’s degree in Business, Finance, Accounting, Organizational Management, or related field; or equivalent work experiencerequired
Preferred Work Experience
- 5+ years of overall professional experience
- 3 to 5+ years of experience in credit card industry, with some experience in an oversight capacity
- Work experience in a financial services risk management, audit, accounting or related role experience in Customer Care and/or Operations preferred
- Proven project managementexperiencepreferred
- Compliance, risk and controls experience within banking or financial services
- Able to demonstrate client relationship skills
- Broad thinker with ability to drive execution, achieve results and influence effectively
- Business Analysis experience
- Occasional to moderate travelrequired
Knowledge, Skills and Abilities
- Knowledge of policies and processes for operational risk management; ability to use tools, data, and best practices to identify, assess, and manage operational risk exposures
- Understanding of regulatory requirements and reporting to regulators on the program and status
- Knowledge of the organization's industry group and regulatory considerations
- Ability to analyze situations fully and accurately and reach productive decisions
- Strong analytical and problem solving skills to be used in operational evaluation and interpretation of compliance information
- Ability to interact effectively with all levels of management, including cross-functional and external stakeholders
- Ability to handle highly confidential information and material in a professional manner
- Strong written and verbal communication and presentation skills with the ability to teach, directly influence change, negotiate, and appropriately escalate
- Ability to work in a fast-paced, matrixed environment to effectively meet deadlines and work with minimal supervision
- Demonstrated ability to lead associates within organization and in a matrixed reporting structure
- Strong proficiency with MS Excel and otherMS Office products
Working Conditions/ Physical RequirementsOccasional to moderate travel required
Preferred Supervisory Experiencenone