Vendor Management Analyst at United Nations Federal Credit Union
Queens, NY 11101
About the Job
Our third-party risk management team is growing! In this newly created position, you will support the Third-Party Risk Management (TPRM) team of the Risk Management department in the execution and delivery of the TPRM and vendor management program, in accordance with UNFCU’s methodology. This includes maintaining vendor inventory, providing support for third party risk assessor activities, risk reporting, and conducting training. Requires collaborating with different departments in understanding vendors and providing guidance as needed with the TPRM program.
This position is expected to be hybrid.
NYC Salary Range - $85,620 - $105,000 annually; compensation is commensurate to geographic location.
- Regardless of seniority or role, uphold UNFCU’s mission, core values, and guiding principles by providing an exceptional service experience to colleagues and members alike through consistent demonstration of our service excellence behaviors.
- Administer and manage the vendor management system, including maintaining vendor inventory of data on third-party onboarding, due diligence and selection, contract negotiation, ongoing monitoring and termination.
- Conduct and coordinate vendor criticality assessment with business unit owners to document and assess vendor criticality data.
- Review end-to-end vendor management process. Serve as one of the key approvers in UNFCU’s vendor management tool, including validating vendor criticality and due diligence assessments.
- Oversee and support the activities of third-party risk assessor. Serve as first level of escalation for resolution on vendor issues. Liaise between third party risk assessor, vendors and business unit owners.
- Escalate unresolved and time sensitive issues to VP, TPRM as part of issue management, in addition to any control weaknesses identified by SMEs to department management.
- Support the evolution and continuous improvement of vendor risk assessment processes, including the development and maintenance of procedures, artifacts and metrics to be used in the assessment of suppliers.
- Ensure proper and timely execution of the TPRM program, ensuring that criticality assessments and risk assessments (i.e., inherent and residual risk) are completed on new and existing third-party suppliers, user entity controls required by SOC report, and all other program activities/tasks, in accordance with the policy, framework and related program documents, including challenge/due diligence tasks, and guidance to business units and other corporate stakeholders.
- Coordinate risk assessment questionnaires and due diligence artifacts to appropriate third-party risk assessor and subject matter experts (SMEs), such as the Office of General Counsel and Information Security.
- Assist with scheduling Risk Committee and other TPRM meetings, and record and document the minutes.
- Record all risk acceptances and risk issues with action plans and action item owners in the TPRM risk register. Follow-up with action item owners to ensure resolution when their actions become due.
- Conduct quarterly, bi-annual or annual vendor performance surveys with business unit owners to record vendor performance data in UNFCU’s Vendor Management tool.
- Conduct vendor termination process activities such as receiving confirmation from business unit owners, sending termination questions to vendors, and terminating vendors in UNFCU systems.
- Assist with risk reporting such as KRIs and KPIs.
- Bachelor’s degree preferred, or some college coursework completed, and 2-4 years of Vendor Management/TPRM or Financial Services industry related experience
- Familiarity with vendor management principles preferably related to financial services
- Strong proficiency with Microsoft Office, especially MS Excel
- Knowledge of industry, market, economic and regulatory developments as they relate to the overall impact to the organization
- Ability to self-motivate, self-monitor, and remain objective in decision-making
- Excellent verbal, written and interpersonal communication skills, and ability to effectively influence others
- Ability to work effectively and collaborate in a small team setting while developing and maintaining strong working relationships throughout all levels of the organization
- Demonstrate creativity, out-of-the-box thinking and problem solving through collaboration