Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG) the world’s 5th largest financial group in the world with total assets of over $2.4 trillion (as ranked by SNL Financial, April 2016) and 140,000 colleagues in nearly 50 countries. In the U.S., we’re 13,000 strong, working together to positively impact every customer, organization, and community we serve. We achieve this by delivering on our values, putting people first, fostering long-term relationships built on honesty and mutual understanding, and inspiring the best in each other. This is all part of our inclusive, high-performing culture supported by Total Rewards that include our cash balance pension plan. Join a team that’s working to fulfill its vision to be the world’s most trusted financial group.
Responsible for the ongoing management of assigned third party relationships for relevant business unit or division of business unit. Engages in the initial risk assessment for new relationships and is responsible for the onboarding and ongoing risk management, analysis, and reporting on those relationships. Third party portfolio includes moderate, high, and critical risk relationships.
Third Party Performance Management:
- Manage a rigorous schedule of third party assessments (including initial drafts, in partnership with contract managers) and ensure a summary opinion regarding the nature of third party performance is rendered and supported, along with the identification of any critical third party risk issues. Gathering data and documentation necessary to complete the Third Party Scorecard.
- Planning and facilitating Third Party Performance Review meetings with Third Party and internal stakeholders, taking all meeting minutes and managing any follow up activities relevant to Third Party Performance. In the event of a Third Party performance issue additional Third Party Improvement plans or exit activities will be required.
- Facilitate the escalation of high risk Third Party incidents or perpetual performance failures to the appropriate executive levels and or executive committees.
Due Diligence and Ongoing Monitoring:
- Document, review, research, and gathering content and information on behalf of profiling the scope of services and inherent risks of the vendor. Completing Third Party Risk Assessments of designated vendors (both short and long versions depending on the risk of the supplier).
- Interfacing with the VRMS. Reviewing and acting on reporting provided by the VRA team.
- On Going Monitoring documentation review, research, content gathering and document creation.
- Issue documentation, research, review and reporting including collaboration with Third Parties and Third Party Management stakeholders to resolve any deficiencies identified in the TPRM process.
- Prepare and analyze third party risk reporting and program exceptions for management.
- Support the preparation of regulatory deliverables on behalf of management with all relevant regulatory agencies.
- Maintains current working knowledge of regulatory requirements, Bank’s Third Party Risk framework, and relevant risk management policies and procedures by attending required training offered by Third Party Risk Management Office.
- Ensures compliance with the Bank's Third Party Risk Management objectives.
- Maintains all files and records relating to vendor activities and maintains a current list of vendor contacts for timely resolution of issues
- Typically requires Bachelor’s degree or equivalent plus 7+ years Third Party Management or Contract Management or Business Analyst experience, preferably in relevant line of business.
- Experience managing complex and dynamic Third Party relationships
- Domain experience in relevant business line
- Knowledge of various regulatory bodies and guidance governing and monitoring the financial services industry
- Experience and poise negotiating complex and dynamic Master Service Agreements and Statements of Work with strict enforceable terms and conditions and service level agreements
- Strong analytical mindset, able to manage risks both at the micro and macro levels
- An innate ability to identify issues and work them to closure, including remediation and escalation where appropriate
- Strong communication skills
- Discretion and diplomacy when dealing with sensitive issues
- Organizational skills and ability to prioritize.
- Desire and talent for building and maintaining relationships
- A commitment to protect the bank from all risk exposure
- Successful background reviewing complex data and drawing appropriate conclusions
- Experience working across a diverse set of stakeholders with positive results
- Outsourcing Industry Certifications, preferred
- Advanced experience with MS Office, Archer, Ariba, SharePoint, and FileNet systems, preferred
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.