TPRM Ongoing Monitoring – Manager-Officer

Role Summary

The Third Party Risk Management (TPRM) Ongoing Monitoring Manager (Officer) role is responsible for coordinating and executing activities under the TPRM Ongoing Monitoring pillar which comprised of four components:  performance measurement, periodic financial viability and SOC risk assessments, continuous negative news 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 engagement book of records and third party audit reports (SOC1 and SOC2) evaluation
• Work closely with business lines/Engagement Managers to communicate program requirements towards Negative Performance Monitoring, News Screening, SOC Attestations and Financial Viability Assessments
• Review news alerts received through monitoring tools like World Check and Rapid Ratings on a daily basis and escalate potential negative news alerts to Business stakeholders and track the same for impact/no impact
• Work with Engagement Managers and have them record SOC CUEC attestations in Archer
• Monitor Financial Health of third party suppliers and escalate third parties with poor financial health to relevant Engagement Managers for impact assessment
• Liaise with Engagement Managers/Service Managers to get them to record third party performance management information in Archer and assist them to open findings in Archer if required
• Liaise with corporate Subject Matter Experts (SME) to review gaps and identify issues as required
• MIS reporting which includes analytics/trending for Ongoing Monitoring activities across our third parties
• Ensures business compliance with TPRM program requirements by supporting Engagement Manager where necessary
• Participate in project management efforts which include process and system enhancements to support the automation of processes
• Flexibility 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 environment
• Must be adaptable and demonstrate initiative in different circumstances