About the Role
The Enterprise Risk and Third-Party Risk Manager is responsible for the oversight, administration, and ongoing effectiveness of the Credit Union’s enterprise risk management and third-party risk management programs. This position operates as a second line of defense role within the Enterprise Risk and Compliance department and provides independent risk identification, assessment, monitoring, and reporting across operational, compliance, strategic, and third-party risk areas.
This role does not own or administer BSA AML or OFAC programs. The position is responsible for ensuring that relevant regulatory and risk considerations including financial crime, data protection, and privacy requirements are appropriately identified, assessed, documented, and monitored within third party relationships.
The role provides objective risk analysis, reporting, and documentation to inform management and governance decision making. The position does not negotiate contracts or manage vendors operationally and maintains independence from first line business activities.
Essential Duties
Enterprise Risk Management
Manage the enterprise risk management framework, including administration, maintenance, and periodic enhancement
Conduct enterprise-wide risk assessments and maintain the enterprise risk register
Identify emerging, cross functional, and systemic risks and document mitigation actions and risk ownership
Develop, maintain, and monitor key risk indicators and escalation thresholds
Prepare risk summaries, dashboards, and reporting for Senior Management, Supervisory Committee, and Board level review
Maintain ERM related policies, procedures, methodologies, and supporting documentation
Coordinate with business units to ensure risks are appropriately identified and assessed while maintaining second line independence
Third Party and Vendor Risk Management
Manage the third-party risk management program including onboarding, due diligence, inherent and residual risk assessments, ongoing monitoring, and issue remediation tracking
Evaluate third parties for financial condition, operational capability, business continuity, information security posture, regulatory considerations, and concentration risk
Ensure regulatory and risk considerations including financial crime, privacy, and data protection requirements are addressed within third party relationships without assuming program ownership
Review vendor requests, renewals, and material changes to ensure required documentation is complete and risk assessments are performed
Monitor vendor performance against contractual requirements, internal standards, and risk expectations
Track, trend, and report third party risk issues, findings, and remediation status
Maintain complete, accurate, and audit ready third party files and annual reviews
Coordinate with Compliance, Information Security, Legal, Internal Audit, and business owners to support effective oversight
Ensure third party relationships align with Board approved budgets and governance requirements
Risk, Audit, and Oversight Activities
Serve as the primary point of coordination for audits, examinations, and internal reviews related to enterprise risk and third-party risk oversight
Maintain workpapers, documentation, and evidence supporting independent oversight activities
Analyze data and trends to identify control gaps, risk exposures, and improvement opportunities
Track and report remediation progress related to risk and third-party findings
Performs other duties as assigned.
Supervisory Responsibilities
Supervisory Responsibilities
Leadership and Continuous Improvement
Independently manage assigned risk programs with minimal supervision and escalate material issues as appropriate
Identify opportunities to improve the consistency, efficiency, and effectiveness of risk management and oversight processes
Contribute to risk awareness and risk culture initiatives across the organization
Perform additional related duties as assigned to meet business, operational, or regulatory needs
Requirements
4 Year / Bachelor's Degree
In business, finance, accounting, risk management, or a related field
Five to eight years of progressively responsible experience in enterprise risk management, third party risk management, internal audit, compliance, or related areas
Experience performing independent risk assessments, oversight activities, or control evaluations
Experience working in a regulated or complex operating environment preferred
Language Skills
Ability to read and comprehend instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information in one-on-one and small group situations to Members and other Team Members at the organization.
Mathematical Skills
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute dividends and interest.
Reasoning Ability
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written or oral form.
Physical Demands
The physical demands described here are representative of those that must be met by a Team Member to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Other Skills And Abilities
Must be able to process transactions in an efficient manner. Must be able to communicate policies and procedures to Members in an easily understood and professional manner.
Must comply with all Bank Secrecy Act (BSA) and other Anti-Money Laundering (AML) laws and regulations, as they pertain to federal guidelines and internal policies and procedures.
About the Company
Our mission is to turn people’s financial possibilities into financial realities. We work every day to create a better tomorrow for our children and families. We are here to stay and grow together. And, here to discover the best financial possibilities for the best possible outcomes.
From extensive loan programs, including home and auto, to the latest in digital technology, retirement and wealth management services, and business banking, Valley Strong is your lifelong financial partner.
So no matter what your financial possibilities may be, we are here to serve you.
Valley Strong Credit Union – Grow Your Possibilities