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Third Party Vendor Manager Technology Operations, Vice President
Mitsubishi UFJ Financial Group
Jersey City, NJ, United States
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Description
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world (as ranked by S&P Global, April 2018) with total assets of over $2.9 trillion (106.2 (JPY) as of March 30, 2018) and 150,000 colleagues in more than 50 countries. In the U.S., we’re 13,000 strong, working together to positively impact every customer, organization, and community we serve. We achieve this by delivering on our values, putting people first, fostering long-term relationships built on honesty and mutual understanding, and inspiring the best in each other. This is all part of our inclusive, high-performing culture supported by Total Rewards that include our cash balance pension plan. Join a team that’s working to fulfill its vision to be the world’s most trusted financial group.
Job Summary:
Responsible for risk management associated with the Intake/ Onboarding of assigned Technology & Operations Third-Party engagements for relevant business units or divisions of those business units. Work closely with business line representatives, project managers, SME groups and Sourcing & Contracts to ensure the timely completion of the Planning, Due Diligence and Contract Execution Phases of the TPRM Lifecycle. Work closely with the Ongoing Monitoring Team to facilitate a successful transfer of knowledge collected during the intake/ onboarding process.
Major Responsibilities:
Support business lines with engaging in a Third-Party relationship that remains within the risk tolerance level of the organization:
• Clearly understand and document the activity to be outsourced to a Third-Party.
• Work closely with the Service Requestor to properly identify and document the inherent risk of the activity to be outsourced to a Third-Party.
• Guide the completion of the risk assessment and Tollgate requirements to allow Sourcing and Contracts to execute the contract timely.
• Work closely with the Ongoing Monitoring team to facilitate a smooth transfer of knowledge collected during the intake/ onboarding process.
• Maintain up-to-date status of work performed to facilitate accurate reporting to management weekly. Maintain continuous communication with Stakeholders to keep expectations in alignment.
Planning Phase:
• Introduce the intake customer to the ISA Intake process using highly respectful, diplomatic and welcoming customer service skills.
• Guide the intake customer toward identifying the person responsible for assuming the role of Service Requestor, and clarifying the description of the activity to be outsourced to a Third Party.
• Support the Service Requestor (SR) with answering the Engagement Characteristics Questions (ECQs) and completing the Short Form Risk Assessment (SFRA) and Planning Artifact Document (if applicable).
• Determine if the activity to be outsourced is similar to an existing engagement record in VRMS or will require a new record to be created in VRMS.
• For similar activities, apply a standard set of procedures to expedite your approval allowing the SR to proceed with executing the purchase or Statement of Work.
• For net new activities, create a new engagement record in VRMS, enter the ECQ’s and SFRA, and complete the Planning Tollgate requirements.
• Maintain up-to-date status of Planning Phase work performed in the ISA Intake SharePoint Tracker to facilitate accurate reporting to management weekly.
Due Diligence Phase:
• Support the Service Requestor (SR) with answering the Risk Assessment Questionnaire (RAQ) questions. Submit the RAQ in VRMS triggering the start of Subject Matter Expert (SME) due diligence reviews. Follow up with an email notifying the SME group that a RAQ has been completed.
• Complete the SOM 103-15 documentation requirements based on the engagement risk rating (Critical, High, Moderate, Low) calculated systematically by VRMS.
• Quarterback the SME due diligence process to ensure all tasks are on schedule for completion in time for contract execution. Host regularly scheduled meetings to monitor status, to remove obstacles that may cause delays, and to ensure that all Stakeholders are in alignment with expectations. Escalate to Management as needed to ensure timely completion of SME due diligence reviews.
• Update the RAQ to ensure alignment with results of SME reviews.
• Guide the SR with the completion of a Risk Acceptance Form when required.
• Complete the Due Diligence Artifact and Tollgate requirements based on the engagement risk rating.
• Ensure the engagement moves to Assessment Complete status. Send an email notifying the SR and Stakeholders that the engagement is now approved by TPRM for use by Sourcing to execute the purchase or Statement of Work.
• Maintain up-to-date status of Planning Phase work performed in the ISA Intake SharePoint Tracker to facilitate accurate reporting to management weekly.
Contract Execution Phase:
• Complete the Contract Execution Tollgate requirements per SOM 103-15.
• Work closely with the Ongoing Monitoring Team to transition engagements from Intake to Ongoing Monitoring when the contract has been executed.
Qualifications
• Bachelor’s degree plus 7+ years Third Party Risk Management, preferably in a Technology & Operations context.
• Auditing and project management experience preferable.
• Experience in working and collaborating with Subject Matter Experts (SMEs) – e.g. Information Security, Business Continuity, Compliance, etc. in assessing, reporting, managing and mitigating risks.
• Knowledge of Technology Products & Services – Application Development and Infrastructure Components.
• Knowledge in and experience with the Systems Development Lifecycle.
• Knowledge of various Regulatory bodies and guidance governing and monitoring the financial services industry – particular to the management and oversight of suppliers and Third-Party Relationships.
• Experience in working with Procurement, Strategic Sourcing and Business Units in the negotiation of complex and dynamic Master Service Agreements and Statements of Work with strict enforceable terms and conditions and service level agreements.
• Strong analytical mindset, able to manage risks both at the micro and macro levels.
• An innate ability to identify issues and work them to closure, including remediation and escalation where appropriate.
• Strong communication skills
• Discretion and diplomacy when dealing with sensitive issues
• Organizational skills and ability to prioritize
• Desire and talent for building and maintaining relationships
• A commitment to protect the bank from all risk exposure
• Successful background reviewing complex data and drawing appropriate conclusions.
• Experience working across a diverse set of stakeholders with positive results
• Risk Management, Third-Party Risk Management Certifications preferred
• Advanced experience with MS Office, RSA-Archer, Ariba and SharePoint
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses