Position Title
Third Party Risk AnalystLocation
New York, NY 10018Job Summary
The Third Party Risk Analyst will support the Third Party Risk Management Program to effectively manage third party risk in accordance with internal policy and regulatory requirements. This position will do this by: Facilitating and assessing accurate third party information captured in Third-Party Questionnaires (“TPQ”), performing financial and insurance due diligence reviews for all tier 1, tier 2, tier 3 and tier 3 third parties, analyzing reviews completed by Subject Matter Expert ("SME”) teams to ensure conclusions adequately assess risks identified which may impact onboarding decisions, ensuring summary report documentation and conclusions support third-party approval decisions; being responsible for supervising business unit (“BU”) completion of the third party’s performance through the score carding process, which should reflect BU monitoring of performance and documentation of issues/follow-up action, and ensuring compliance with Bank/Corporate operating policies and procedures and Federal and State Regulations. Additionally, the Third Party Risk Analyst will assist Management as requested on other projects including system implementations, ad-hoc Internal Audit and ERM requests, and other department reporting functions to ensure compliance with company, departmental and regulatory policies.Job Responsibilities:
On-time completion of initial and recertification reviews including SME review quality assurance, TPQs, third-party financial reviews, third-party insurance reviews, summary reports, by classification (Tier 1, 2, 3, and 4), and Exclusionary List reviews.
Complete ongoing monitoring activities including review of third-party performance scorecards by classification (Tier 1, 2, and 3) and BU follow-up, requesting and obtaining key third-party documents such as financial statements, certificates of insurance, and other reports.
Process maintenance, including Coupa Risk Assess system quality assurance, assistance in maintenance of procedures, desk guides as needed.
Special projects as assigned which may include: OCC audit, Internal Audit, Process Unity, Sourcing, Diversity and Inclusion, Non-Profits.
JOB REQUIREMENTS
3+ years’ risk/banking experience in a financial, banking or related field
HS Diploma, GED or Foreign Equivalent
Proficient in Microsoft Word, Excel, Outlook
Strong written and oral communication skills
Ability to work both independently and in a team
Understanding of financial statements
Experience working with a wide variety of client bases both internal and external
Adhere to all REGULATORY AND COMPLIANCE issues linked to the job and the team and understand how these issues help the bank achieve the vision of remaining an independent bank (required for all positions) Staff member is expected to consistently adhere to regulatory and compliance policies and standards linked to their job as listed. Staff member will not repeatedly act in a manner signifying intentional or willful noncompliance, nor exhibit gross negligence or a general disregard for compliance and regulatory standards. Staff member must ensure compliance with applicable federal, state and local laws and regulations. Staff member must complete all required compliance training on a timely basis. Staff member will maintain knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Staff member must take responsibility to keep up to date with changing regulations and policies
PREFERRED:
Bachelor’s Degree Preferred (Business or related field)
Flagstar is an Equal Opportunity Employer
Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank