Job Description
Third-Party Risk ManagementIRQ Review OfficerRole SummaryState Street uses third parties to support internal processes and in the delivery of certain products and services to clients. These third parties are evaluated and risk assessed through our Third-Party Risk Management (TPRM) Program. The Inherent Risk Questionnaire (IRQ) is the tool utilized to determine the inherent risk of an engagement. The Third-Party Risk Management IRQ Review Officer is responsible for effective review and challenge of inherent risk assessments completed by managers of third party supplier engagements. This review is critical to ensure accuracy of responses, resulting inherent risk and required due diligence. The successful candidate should be able to recognize inconsistencies within the IRQ, initiate communications with key stakeholders and business partners and guide them towards successful resolution of the items raised.Job Duties and ResponsibilitiesReview inherent risk assessments for reasonableness and accuracyEffectively challenge any inconsistencies noted during reviewCommunicate with key stakeholders for inconsistencies identified and follow through to successful resolutionDevelop and maintain an understanding of State Street’s business lines and the products & services offeredAct as subject matter expert with regards to the inherent risk questionnaire(IRQ) trigger logic and interdependencies between the questions and resulting due diligence requirementsIdentify business specific nuances to the IRQ responses and enhance existing procedures, as neededMonitor SLAs; identify opportunities for process efficienciesAssist with the creation and / or maintenance of procedure documents and FAQsParticipate in project management efforts including tests of Archer system enhancementsFlexibility in working outside of direct responsibilities to support emerging TPRM program requirement changes SkillsAbility to multi-task and operate in a fast-paced, deadline-oriented environment; effective time management skillsStrong organizational and problem-solving skillsMust be self-motivated, adaptable and demonstrate initiative in difficult circumstancesStrong verbal and written communication skills; detail orientedPossess a strong customer centric mindsetDemonstrate a willingness to support change and initiatives within the TPRM ProgramQualificationsOverall work experience of 10+ years in multinational banksPrior experience of 8+ years in Third Party Risk ManagementSound knowledge of third party risk topics like Cyber Information Sensitivity and Access Risks, Business Conduct and Compliance Risks and Operational Resiliency RisksStrong working knowledge of Microsoft Office products, including Word, PowerPoint and ExcelPrior experience with Archer / RSA platform is preferred*Please note: Role is required to support internal clients in the first half of US working hoursState Street's Speak Up Line
