Primary responsibilities include supporting the ongoing development and evolution of the Risk Management Program (program), focusing on the vendor management aspect, in support of Tower Federal Credit Union’s (TFCU) business objectives. The incumbent will prioritize workflow in support of the program in accordance with organization policy, standards, and regulatory requirements. The role requires a high level of interpersonal skills, confidentiality, and accuracy to support all aspects of the program. The incumbent will use critical thinking, and problem solving to coordinate, improve, and participate in a wide variety of risk management functions to safeguard TFCU from taking excessive risks. This includes supporting the development of quantitative and qualitative analytic models, risk assessments and/or applications that identify , assess, mitigate and monitor TFCU risks to evaluate and identify risks, identify gaps in current processes, and recommend control enhancements.
PRINCIPAL ACCOUNTABILITIES AND FUNCTIONS:
This role will support the following initiatives in the Risk Management Group:
Developing, documentating, and implementating all aspects of the vendor management program including third-party onboarding, vendor oversight, risk analysis supporting regulatory compliance and organizational policy.
Establishes standards, processes, and procedures to support vendor due diligence, vendor performance, and assessing vendor risk.
Uses advanced analytics to assess risk, opportunities, and effectiveness in order to provide an outlook on acceptable levels of risk. Applies innovative and scientific/quantitative analytical approaches to draw conclusions and make recommendations to answer business objectives and drive change.
Collaborates with internal stakeholders responsible for Enterprise Risk, Information Security, Business Continuity, Disaster Recovery, BSA/AML, Compliance, and Finance to ensure program alignment with regulatory requirements (including FFIEC, GLBA, and NACHA) and industry best practices.
Develops processes to audit and assess the overall effectiveness of the vendor management program.
Responsible for establishing and monitoring vendor service level agreements against contract terms for critical and essential vendors.
Reviews contracts to ensure key provisions focused on risk such as disaster recovery, incident response, breach declaration, financial stability, and information sharing, are included and aligned with organizational policy and standards.
Implements remedies to vendor management applications to systematically manage, track, and report on critical and essential vendors.
Ensures organization-wide requirements for due diligence, risk assessment and continuous monitoring of vendors is being accomplished.
Conducts and/or reviews initial and periodic vendor and security risk assessments.
Aggregates and analyzes vendor data to depict and report on overall performance on per vendor or the vendor management program as a whole.
Maintains accountability for overall accuracy and completeness of the program.
Assists with regulatory, internal or other third-party audit requests
Reviews and analyzes information surrounding significant third-party events. Communicates to vendor-relationship owner and escalate to senior management, when applicable.
Performs related duties when assigned.
Must demonstrate polished communication skills including verbal and written proficiency, and presentation skills.
Must possess demonstrated proficiency in Microsoft Office applications (Word, Excel, and Outlook, Powerpoint, Viseo).
Must possess knowledge and proficiency in personal computer use, preferably with Windows 7 or Windows 10.
Demonstrated relationship building and skills. Proven record of working with all levels of an organization’s business and technology departments.
Demonstrated strong problem solving, analytical and technical skills to understand and identify business needs in order to communicate solutions, and execute implementation of solutions.
Demonstrated success working with various detailed information and data.
Ability to facilitate group meetings, overcome objections, and form consensus.
Ability to interact effectively with technical and non-technical users at all organizational levels.
Ability to write reports, business correspondence and procedure manuals for a diverse audience.
Ability to define problems, collect data, establish facts, and draw valid conclusions.
Able to work independently.
Ability to prioritize tasks and complete daily job assignments.
Ability to organize workload to accommodate competing deadlines.
Ability to work productively and professionally under stress.
Ability to resolve controversial or delicate matters skillfully and tactfully.
Ability to respond to common inquiries and complaints.
Ability to maintain sensitive and confidential information.
Ability to interact effectively and professionally with colleagues and managers.
Ability to work extended hours, including evenings and weekends as needed.
Red Corridor Clearance via our Sponsor is required
Bachelor’s Degree in Business Administration, Finance, Accounting, Information Technology, Risk Management or a related field.
Three to five years of relevant progressively responsible experience preferably in the financial services industry, in one or more of the following functions: vendor risk management; corporate procurement or contract administration; Operational Risk and/or Compliance; or information security
Or, an equivalent combination of education and experience.
Internal Number: RISKM02075
Tower Federal Credit Union was formed in 1953 when its seven original members pooled together their money, each contributing $5. Since its inception, Tower has grown to be the largest federal credit union in Maryland with $3.10 billion in assets and 187,268 members worldwide.
Headquartered in Laurel, Md., Tower has branches in Anne Arundel, Baltimore, Howard and Prince George’s counties as well as at Fort Meade. Find out who we serve.
As a member-owned, not-for-profit financial institution, Tower is committed to meeting our members’ diverse financial needs through low loan rates, low or no fee products and services, unbeatable value, superior service, and untiring innovation. We provide top-notch financial products and services for our members.
In addition, we make protecting the security of our members’ accounts one of our top priorities – and we are always going to extra lengths to protect your personal and financial information.
After more than 60 years of serving you, Tower is financially stronger than ever and remains committed to helping you achieve your financial goals.