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||Arlington Heights, IL
|| Accounting/Auditing, Computers, Software, Finance/Economics, Information Technology, Legal, Military, Executive Management, Research & Development
AVP, Third Party Risk Policy & Governance Analyst|
- Support the design and implementation of a common and consistent Third Party Risk Management
(TPRM) Program to effectively manage third party risk in accordance with internal policy, standards, and local Regulatory requirements.
- Provide guidance to the business, and other stakeholders to ensure requirements of TPRM are fully understood.
- Monitor compliance with TPRM Standards and Procedures in dealings with third parties for the supply of goods and services to HSBC.
- Support development and execution of a robust communication and training plan to facilitate the effective application and awareness of TPRM across the region/global business.
- Maintain a structured regional internal governance framework, to ensure effective oversight of third party risk and compliance in accordance with policies and target operating models.
- Support the local and global TPRM team delivering a continuous improvement program and delivering against agreed targets for managing the region/global business’s exposure to risk through its engagement with third parties.
- Help ensure strong oversight of all third party risks and provide Business Partners visibility of existing and emerging risks
- Ensure that Businesses/Functions (including Risk Domains/Stewards) act in accordance with all relevant policies, standards, and procedures, including local Regulatory guidance
- Continually reassess the operational risks associated with the function and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices and the impact of new technology.
- Support regional committees on the reporting of the management of third party risk including, but not limited to, critical third party contracts and high third party risks / ineffective controls, and highlight third party risks and the action planned to address inadequate controls to executive management.
- Ensure compliance with operational risk controls in accordance with HSBC and/or regulatory standards and policies; support the optimization of relations with regulators and audit by promptly addressing any issues or requests
Impact on the Business
- Communicate to Business Partners on policy and standards compliance relating to the supply of goods and services
- Act as a subject matter expert to assist the Business in mitigating risks on their commercial transactions with their third parties
- Maintain risk exposure to both Business and Customers within risk appetite, by delivering a structured program for the management of all third party risks with appropriate controls
- Develop, promote and deliver training and awareness to Business Partners on third party risk.
Delivery of TPRM
- Procedures and relevant tools fully aligned to local policy and standards, and periodically updated in compliance with the FIM/BIM Certification process.
- Evidence of Challenge of the business/users to ensure ownership of appropriate TPR activities.
- Monitor Static or improving trends (including but not limited to, Business RCAs)
- TPRM reporting and escalation to Senior Management
- Timely completion of all mandatory training.
Customers / Stakeholders
- Build and maintain strong influencing relationships with Business Partners (including Risk Domains / Stewards), subject matter experts, BRCM and Audit to improve their understanding of TPRM, and ensure consideration of third party risk within their own risk domain framework
- Lead / Support other risk function initiatives as the subject matter expert for TPRM
- Assess regulatory changes / impacts to TPRM and recommend enhancements to existing, policy, standards and guidelines.
- Evidence of strong networks with key Business Partners and SMEs
- Early and increased internal engagement and awareness of TPRM.
Operational Effectiveness & Control
- Ensure strong oversight of all third party risks and provide Business Partners visibility of existing and emerging risks
- Review and challenge third party risk ensuring consistency across the businesses and functions, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices and the impact of new technology.
- Ensure business/function third party risk management activities and actions are in accordance with all relevant policies and procedures
- Reduce the number of contracts put in place outside of the Third Party Risk Management process
- Ensure local procedures in alignment with local, global and regulatory policy and procedure and are regularly updated.
- Work with Internal team, Business and Function SMEs to monitor and ensure timely closure of audit, regulatory and other issues, ensure consistent bank-wide approach to closure.
- Ensure action items taken to address the findings are effective to prevent repeat findings.
- Support business/functions on the reporting of critical third party contracts, high risks /issues, and ineffective/needs improvement controls. Report/monitor third party risks and the actions planned to address and mitigate them.
- Improve awareness of Third Party Risks and work with Business/Functions and Risk Domains to mitigate any losses
- No repeat audit findings. Risks highlighted, mitigation plans agreed and implemented. Ensure oversight of high risk contracts/third parties is undertaken by the Business/users across region.
- Influence and guide Senior Management, Business partners and Risk Domains/Stewards to adhere to Third Party Risk Management Standards, Guidelines, and procedures.
- To ensure the Business/Functions are equipped with knowledge and support to fulfill their role under TPRM and ensure they value the benefit in effectively managing the risk with the third party relationships.
- The Third Party Risk Management function owns the following responsibilities;
- Owns the TPRM Standard and is responsible for defining and maintaining the Third Party Risk Management Framework.
- Overseeing that Third Party Risk is adequately being managed by the First Line of Defense (Business/Functions) in alignment with TPRM policies, standards and framework.
- Ensuring (Risk Steward) guidance is consistent and implemented consistently throughout the firm and challenges and reviews third party risk related matters.
- Increasing reliance on the expertise of the TPRM Manager in the face of increasing regulatory requirements relating to risk with third parties
Management of Risk
- Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues, the physical demands/work environment described above are representative of those that must be met by an employee to successfully perform the essential duties of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties.
- Physical Demands/Work Environment: Very good working conditions. Little or no physical demands. Minimal handling of light materials. The physical demands/work environment described above are representative of those that must be met by an employee to successfully perform the essential duties of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties.
- The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
- Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.
Observation of Internal Controls
- Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
- The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
- This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
- The Manager will adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and by the timely implementation of internal and external audit points related to TPRM, including any issues raised by external regulators.
- Liaising with Compliance department to ensure compliance risk is appropriately managed by TPRM.
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Qualifications & Requirements
- Bachelor degree with a minimum of 5 years related work experience required
- Demonstrated success managing complex projects
- Superior communication, analytical and problem solving skills
- Organized, detail-oriented with ability to understand big picture
- Able to deal with ambiguity - integrate, prioritize and rollout programs without clearly defined
- Able to work independently and lead cross-functional teams to accomplish
- Able to negotiate/influence at all levels to ensure effective and timely delivery of projects and
- Experience managing client/partner relationships and expectations
- High proficiency of PowerPoint, Excel, Word and SharePoint