Third Party Risk Management (TPRM) is a global, cross-functional program spanning all business units and legal entities, requiring coordinated engagement across Procurement, the First Line of Defense (business), and the Second Line of Defense. Business units are responsible for managing risk associated with third-party relationships throughout the lifecycle, while Corporate TPRM provides governance, standards, and oversight. Procurement enables the sourcing, contracting, and onboarding of third-party vendors, supporting the execution of business needs.
Within this framework, the Investment Management (IM) Vendor Engagement & Third-Party Risk team operates at the intersection of the First Line and Second Line, enabling and supporting the business in the execution and onboarding of third-party activities while ensuring alignment with TPRM and Procurement policies and program requirements. The team serves as a central coordination point across Investment Management, Corporate Procurement, Corporate TPRM, and other enterprise functions to operationalize the end-to-end vendor onboarding lifecycle. This includes facilitating vendor onboarding, managing cross-functional workflows, supporting due diligence and risk assessment processes, and centrally driving issue remediation, escalation, and closure.
Given the critical role third-party providers play in delivering IM business capabilities, these relationships introduce a range of risks that require not only oversight, but active coordination, execution, and continuous engagement across stakeholders to ensure timely onboarding, effective risk management, and adherence to enterprise standards.
Business Analysis and Strategy Planning:- Supports risk oversight management and onboarding of third-party vendors for IM
- Helps drive the creation of both BAU and strategic initiatives and plans to define and implement Third Party Risk Management for IM business
- Actively participates in assignments for large and complex business solutions initiatives across end-to-end vendor onboarding lifecycle
- Builds and maintains subject matter expertise within IM Vendor Engagement and Third-Party Risk team
- Produces relevant presentations, reports for executive management and internal business partners
- Presents information and prepares RFP and Due Diligence responses about IM's Third-Party Risk Management program to IM's prospects and clients,
- Acts as an advocate and change agent to implement recommended business solutions
Communication and Relationship Management:- Acts as a relationship manager engaging business leads and peers, interfaces with senior leaders and subject matter experts (SMEs) across the organization; ensures service quality and customer satisfaction
- Supports relationships with both internal and external clients and business partners
- Persuades and influences courageously at all levels of the organization
- Communicates recommendations to management/senior business leaders through effective written and oral communication
Responsibilities:- Identify and implement best practices when onboarding third party vendors
- Proactively identify and mitigate vendor risk; Document and assist with issues and risks as they arise
- Maintain relationships with key stakeholders
- Participate in working groups among Business Units, Corporate Teams and First, Second and Third Line of Defense teams to create synergies
- Interface with and support key stakeholders across the organization; ensures service quality and customer satisfaction
- Provide guidance and support to State Streets Third Party Risk Management and Procurement programs by responding and adhering to new and existing regulatory guidelines and initiatives and further mature the contracting and internal risk management functions
- Influence recommendations to key stakeholders through strong negotiation, written and verbal communication
Qualifications: - Demonstrated vendor management, third party risk, procurement and / or project management experience
- Strong relationship management with demonstrated ability to work across business lines
- Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio)
- Strong written and verbal communication skills, ability to interact and influence peers, managers and senior leadersStrong analytical skill set and decision making abilities
- Excellent interpersonal, communication, facilitation, presentation and negotiation skills
- Demonstrated vendor management and / or project management experience
- Strong relationship management with demonstrated ability to work across business lines
- Strong organizational skills
- Ability to multi-task and work within deadlines in a fast paced environment
- Results oriented ownership mindset with the ability to drive results within the Business
Competencies: - Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his / her knowledge and demonstrates appropriate financial / analytical skills
- Drive and Motivation - Successfully handles multiple tasks, takes initiative to improve his /her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
- Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients, helps the client to identify/define needs and manages client/business expectations
- Teamwork - Displays the ability to work well with other in a team
- Judgment and problem solving - Has the ability to think ahead and analyze and resolve complex issues
Education and Experience - 8-10 years of experience in financial services
- Bachelor's degree, MBA a plus
- Proven experience with business requirements analysis to meet critical business needs, must display an ability to drive tasks through to completion
- Experience with governance reporting and issue management
- Experience with risk management functions, Procurement, Compliance, or Information Security
- Experience with Business relationship management
Salary Range: $80,000 - $140,000 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Employees are eligible to participate in State Street's comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
