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Analyst, Vendor Risk Management
Banc of California
Santa Ana, CA, United States
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Description
Since 1941, Banc of California (NYSE:BANC)has provided full-service banking and lending to individuals and their businesses, families and employees throughout California and across the West.
Today, with over $10 billion in consolidated assets, we are large enough to meet our clients’ banking needs, yet small enough to care and serve them well. Banc of California’s strong balance sheet, deep community roots and commitment to lasting and meaningful relationships are the foundation for its long record of success.
JOB SUMMARY:
Responsible for supporting the second line of defense Third Party/Vendor Risk Management program by working with the stakeholders across the enterprise to identify, analyze, mitigate, control and report risks posed to Banc of California by engaging third party providers. Assists with the analysis of inherent and residual risk posed to Banc of California and performs credible challenge with Business Units to ensure risk is categorized accurately when necessary. Updates and maintains reports and works with the Business Units and subject matter experts to ensure periodic risk assessments are completed timely. Ensures risks identified are documented, tracked, reported, and appropriate action plans are developed and resolved timely. Supports Third Party/Vendor Risk Management and Enterprise Risk Management (ERM) in ensuring that third party due diligence and ongoing monitoring and oversight controls are met. Supports the process to identify and analyze third party risks, compliance and other Bank requirements. Assist internal business partners in managing third party relationships and tracking and reporting of third party risks. Performs all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
1. Assist in the process to identify, analyze risk and summarize inherent and residual risk posture of third parties. Ensures compliance with Third Party/Vendor Risk Management policy and standards, laws and regulations. Identifies and analyzes conditions, with input from management and Sr. analysts, requiring Risk Acceptance and works with appropriate stakeholders to document, escalate, and support obtaining approval to proceed as appropriate.
2. Contributes to the development and implementation of Third Party/Vendor Risk processes, tools, policies, standards and procedures in alignment with the Enterprise Risk Framework program.
3. Effectively communicates verbally and written (reports and presentations) with business owners and leadership on risk issues identified through second line of defense risk management and contract risk reviews.
4. Ensures due diligence and ongoing monitoring controls are met; identifies due diligence assessments and documentation required based upon services being provided. Performs initial review of due diligence documentation to ensure they are current and applicable to the product/service provided.
5. Provides guidance to Business Units regarding policy interpretation expectations to comply with the Third Party/Vendor Risk Policy and Standards and regulatory requirements.
6. Tracks and reports status of periodic review due diligence and ongoing monitoring.
7. Plans, coordinates, and organizes all tasks required to monitor and report on third party population, performance, issues, and trends.
8. Maintains a Third Party Risk Management Share Point site.
9. Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
10. Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
11. Complies with all Bank policies and procedures; completes tasks accurately and on time; supports the company’s goals and values.
12. Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
13. Performs other duties and projects as assigned.
Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation.
Qualifications
ESSENTIAL KNOWLEDGE, SKILLS, AND ABILITIES:
• Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA).
• Knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to third party risk and contract management, including but not limited, to the following: OCC 2013-29 Bulletin (Life Cycle Risk Management), Managing Third Party Risk, CFPB Third Party Risk, FRB Managing Outsourcing Risk, FFIEC Technology Service Provider Handbook.
• Knowledge of Bank administration, lending and operations products and services; related state and federal laws and regulations, and other Banking operational policies and procedures.
• Excellent analytical skills and ability to develop reports and with presentations in Power Point, Word, Adobe-Pro, Visio, Share Point.
• Expert knowledge of Excel
• Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
• Ability to organize and prioritize work schedules on a short-term and long-term basis.
• Ability to provide recommendations to management on business problems.
• Ability to make informal and formal presentations, inside the organization; speaking before assigned team or other groups as needed.
• Ability to deal with complex difficult problems involving multiple facets and variables in non-standardized situations.
• Working knowledge of risk assessing functions e.g. Information Security, BCP, Privacy, Vendor Viability, and Compliance related to assessing residual risk of third party providers.
• Ability to work with little to no supervision while performing duties.
EDUCATION, EXPERIENCE AND/OR LICENSES:
• Minimum of 3 to 5 years related work experience in second line of defense Third Party Risk Management or Vendor Management.
• Prior banking and/or financial services industry experience required.