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Third Party Risk Analyst

Company: Flagstar Bank
Location: Troy
Posted on: April 30, 2021

Job Description:

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.

  • 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.
  • Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies. Job Requirements:
    • HS Diploma, GED or Foreign Equivalent
    • Bachelor's Degree Preferred (Business or related field)
    • 3+ years' risk/banking experience in a financial, banking or related field
    • 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
    • The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting. Internal Use Only: Band G

Keywords: Flagstar Bank, Troy , Third Party Risk Analyst, Professions , Troy, Michigan

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