Operational Risk Analyst V - Third Party Management

About the Role

The Operational Risk Analyst V- Third Party Management resides within Key’s Operational Risk Management organization and is responsible for ensuring Key’s third party program management aligns with regulatory guidance and is consistent with KeyCorp's Operational Risk Policy and Third Party Management Policy. Candidate must be proficient in third party regulatory guidance (e.g., OCC, FRB, CFPB, and FFIEC) and able to perform effective review and challenge of the Third Party Program and provide Second Line of Defense oversight throughout the third-party risk management lifecycle. Candidate must demonstrate ability to design and execute an independent Second Line of Defense assurance program and provide oversight of Line of Business risks and controls to drive assurance of the program to applicable regulatory guidance. Candidate must establish effective business relationships, displaying an ability to interact and promote a positive rapport with First, Second and Third Lines of Defense stakeholders. Candidate must exhibit initiative, ability to work independent, think criticality, and help to influence and implement change.

Essential Job Functions

Provide Second Line of Defense third party management expertise and support to Risk Management and Corporate Procurement programs.
Demonstrate proficient knowledge of applicable third party regulatory guidance (OCC, FRB, CFPB, and FFIEC), industry trends, and emerging issues, and ability to understand its applicability to risk management strategies including the scoping of risk evaluations, monitoring, and design of testing plans.
Design and execute an independent Second Line of Defense approach to risk-based monitoring and evaluation by ensuring Program alignment with regulatory guidance, policy, and program requirements.
Develop assessments and provide input over Third Party risk identification and control effectiveness through formal reporting, as well as monitoring remediation activities.
Utilize knowledge of data analysis tools and techniques to analyze, quantify, and/or assess risks and to evaluate controls to identify potential weaknesses and/or control gaps in the third party management program.
Clearly document the results or conclusions for testing performed in concise management reports and provide heightened awareness around significant risks and proactive identification, escalation, and remediation of control weaknesses or gaps.
Effectively and professionally interact with senior management, regulatory agency personnel, internal legal counsel, internal risk review (audit) personnel as well as risk management peers.
Provide specialized authoritative advice and consultation on current and emerging third party regulatory risks, including proactively anticipating and responding to regulatory changes, assessing the impact to the LOBs, and assisting the LOBs in responding to the change.
Develop departmental procedures to support governance and monitoring processes to assist in the review, update and enhancement of Second Line of Defense Third Party Risk Management policies and procedures.
Demonstrated awareness and ability to consider interconnections of risk disciplines and the impact on third party risk.
Interface with regulators; respond to internal/external audits/examinations risk management requests for information, assist in the evaluation of audit/examination findings and implementation of corrective action, and/or assist in LOB responses to regulatory and legal inquiry/investigations.
Conduct review and challenge of regulatory exam documentation prior to submission to the regulators to ensure requests for information are appropriately addressed.