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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 the Ongoing Monitoring & Management of assigned Technology & Operations Third Party engagements for relevant business unit or division of business unit. Engages in the ongoing risk management, analysis, and reporting on those engagements. Third Party engagement portfolio may include Critical, High and Moderate Risk engagements. Emphasis is on First-line Risk Management of Third Parties.
Major Responsibilities:
Due Diligence Phase & Transition to Ongoing Monitoring Phase (BAU):
• Work closely with the Intake Team (Third Party & Engagement Onboarding) to transition engagements to ongoing monitoring, once contracts have been executed.
• Review Planning artifacts, Due Diligence process and any issues identified
• Ensure thorough vetting and understanding of Risk Assessment inputs and for any issues identified - Action Plans, Owners and Timeframes to remediate.
• Consult and partner with Sourcing and Business Units in the preparation and execution of contracts – maintaining awareness of status and where contracts stand in the process.
• Obtain copies of signed contracts and become familiar and versed in commercial terms and conditions, including SLAs, etc.
Ongoing Monitoring Phase:
• Create & Maintain Ongoing Monitoring Plans
• Utilize Ongoing Monitoring Plan to plan, manage and track all required program execution elements
• Complete Performance Scorecards, including the use of relevant metrics and KPIs to the product/service
• Conduct Business Reviews that provide insights and status to key stakeholders
• Perform periodic refreshes of Due Diligence elements
• Keep up with news on industry, products/services and Third Parties
• Conduct periodic reviews of Third Party Financials and state of health
• Hold regular meetings with Third Parties
• Re-assess Risk Ratings upon Trigger Events
• Identify, report and resolve issues – escalate when called for
• Prepare and periodically update Exit Strategies
• Ensure that Contract Terms & Conditions are being met
• Prepare periodic status reports to management on the status and health of the engagement portfolio.
• Support the fulfillment of all Regulatory Requests and Deliverables
• Timely upload of all required artifacts and evidence into the Third Party Risk Management System with proper naming conventions
• Keep abreast of Regulatory Guidelines applicable to Third-Party Risk Mgmt.
Termination Phase:
• Partner with the Business Units in assessing the demand and future roadmap for existing products and services and how that will affect Third Party engagements
• Maintain Exit Strategy documents
• Determine if any ongoing monitoring results or trends warrant escalation and closer review, for possible termination and replacement of the Third Party.
• If a termination is decided or required, work with appropriate stakeholders to plan and execute.
Qualifications
• Bachelor’s degree plus 7+ years Third Party Risk Management, preferably in a Technology & Operations context.
• Experience managing complex and dynamic Third Party relationships
• Experience in working and collaborating with Subject Matter Experts (SMEs) – ie, 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