The Global Third Party Management (GTPM) Business Unit is seeking a Third Party Risk Analyst to support the Global Third Party Risk Management (TPRM) Intragroup team, which is primarily responsible for managing and overseeing the risk assessment and monitoring processes for Intragroup engagements in line with regulatory requirements. Intragroup engagements occur when a State Street legal entity or entities provide services to another State Street legal entity or entities. The Intragroup team facilitates and oversees the process for State Street entities and business units to risk assess and manage the potential risk associated with their Intragroup / Intra-affiliate engagements, including oversight and governance in line with the Intragroup Standard and controls. This position requires strong attention to detail, sound risk judgment, and the ability to operate in a fast paced and regulated environment. The Analyst will act as an advisor to business stakeholders, ensuring Intragroup engagements are assessed, monitored, and documented in alignment with Third Party Risk Management Program and regulatory guidance.
Main Responsibilities:
- As part of the Intragroup operational team, guide business unit stakeholders through the Intragroup/Inter-affiliate process in line with the Intragroup Standard, requirements, and controls; address questions and work through any challenges timely to ensure successful completion of the process
- Use effective communication skills to work with internal clients at all levels in the firm to fully document their outsourcing business needs. Help to identify solutions to mitigate risks found, working with other subject matter experts in the firm
- Perform quality assurance (QA) reviews over Inherent Risk Questionnaires (IRQs) to validate data accuracy and appropriate risk ratings, and third party reassessments ensuring
- Facilitate the completion of Due Diligence Questionnaires, ensuring the completeness of required reviews, effective challenge, and consistency in risk assessment results
- Prepare Executive Summaries and facilitate senior management review and approval
- Demonstrate a willingness to develop SOPs and provide training solutions to the business staff responsible for outsourcing, and for other key stakeholders virtually and in person
- Be proactive and utilize queue monitoring to ensure timelines for onboarding of engagements are met using your subject matter expertise and stakeholder management skills to help the business successfully achieve their goals
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- Build an understanding of Intragroup/Inter-affiliate engagement risks by partnering with related team members and control functions in the firm, to help ensure the business is aware of their risk and can remediate any issues identified to closure
- Provide metrics/reporting to support governance processes such as oversight and monitoring
- Become an expert in using the firm's tools (e.g. Archer) to assist the business. Leverage the tool’s capabilities to maintain accurate documentation within to meet the needs of our internal processes and procedures
- Build successful working relationships with multiple countries, legal entities, outsourcing offices, and businesses across the firm, as it relates to Intragroup engagements
Qualifications:
- Bachelor’s degree and a minimum of 4-6 years of relevant work experience in Inter-Affiliate/Inter-Group Services, Finance, TPO, Vendor Management, Risk Management and Controls, or related roles
- Strong written, communication and active listening skills – Candid, confident, and enthusiastic.
- Strong analytical and organizational skills to enable efficient, accurate and objective decision making
- Ability to work independently while sharing expertise with colleagues and others, as well as partnering with related functions and teams to ensure a coordinated and effective program
- Able to proactively manage stakeholder needs and expectations while providing consistent and regular communications
- Sound business judgment, particularly the ability to proactively identify and address issues early, performing root cause analysis to develop long term solutions, and escalating where necessary
- Take ownership mentality – Willingness to roll up sleeves, navigate complexity and drive execution to solve complex problems
- Proficiency required in Excel for reporting and data analysis and PowerPoint for creating impactful presentations
- Desire to work in a diverse, global, multi-cultural environment for an equal opportunity employer. Flexibility to meet outside of typical working hours as needed is a plus.
- Knowledge of regional / local regulatory outsourcing requirements is a plus
- CRVPM or related risk program management certifications are a plus
- Preferred experience with Risk Management tools such as Archer
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