Role Summary

The Third Party Risk Management (TPRM) Ongoing Monitoring Analyst is responsible for coordinating and executing activities under the TPRM Ongoing Monitoring pillar which comprised of four components:  performance measurement, periodic risk assessments, continuous risk and supplementary monitoring.  This position will liaise with key stakeholders, subject matter experts and business lines to effectively manage risk across our third party population to meet State Street’s regulatory obligations.

Job Duties & Responsibilities:

Perform Ongoing Monitoring activities which includes, but is not limited to:  third party performance monitoring, negative news monitoring, financial viability assessments, maintain vendor book of records and third party audit reports (SOC1 and SOC2) evaluationWork closely with business lines/Engagement Managers to communicate program requirements towards Negative News Screening, SOC Attestations and Financial Viability AssessmentsReview news alerts received through monitoring tools like WorldCheck and Rapid Ratings on a daily basis and escalate potential negative news alerts to Business stakeholders and track the same for impact/no impactWork with Engagement Managers and have them record SOC CUEC attestations in ArcherMonitor Financial Health of third party suppliers and escalate third parties with poor financial health to relevant Engagement Managers for impact assessmentLiaise with Engagement Managers/Service Managers to get them record third party performance management information in Archer and assist them to open findings in Archer if requiredLiaise with corporate Subject Matter Experts (SME) to review gaps and identify issues as requiredMIS reporting which includes analytics/trending for Ongoing Monitoring activities across our third partiesEnsures business compliance with TPRM program requirements by supporting Engagement Manager where necessaryParticipate in project management efforts which include testing Archer system enhancements to support the automation of processesFlexibility in working outside of direct responsibilities to support TPRM program requirements as they emerge

Skills:

Highly motivated individual with the ability to multi-task, operate in a fast paced, deadline-oriented environmentMust be adaptable and demonstrate initiative in different circumstancesStrong organizational and problem solving skills with a focus on attention to detailData analysis driven with strong Excel skillsAssist in managing third party risk data analysisCritical thinking, problem solving, and decision making skills with the ability to execute independentlyStrong verbal and written communication skillsPossesses a customer centric mindset

Qualifications

Strong financial services sector background/experience preferred (5+ years’ experience)Previous experience with third party risk management, specifically ongoing monitoring activities, and/or procurement is highly valuedStrong knowledge of Microsoft Office products, including Word, PowerPoint and Excel; prior experience with Archer/RSA platform is preferred

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