The Third-Party Risk Analyst will conduct moderately complex third-party due diligence and monitoring activities on behalf of Stellar Bank. This role helps ensure the bank’s third-party relationships, including vendors and critical service providers, are effectively managed and compliant with the requirements of external regulators and internal policies. This position requires extensive dialogue with business representatives, support teams, and external third parties. The ideal candidate is a self-starter, analytical, detail oriented, great communicator, and enjoys collaborating in a dynamic, fast-paced environment.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Lead comprehensive third-party due diligence reviews, proactively identifying, evaluating and mitigating potential risks.
- Leverage risk assessment methodologies to ensure thorough and strategic analysis, safeguarding the organization against critical vulnerabilities.
- Engage with external third parties and internal teams to gather, evaluate and interpret due diligence documentation, applying critical judgement to ensure thoroughness and adherence to standards.
- Analyze and assess documentation to strategically determine the nature of relationships, ensuring comprehensive understanding and compliance.
- Support on-going monitoring activities by proactively analyzing, investigating and resolving alerts, takes ownership of moderately complex cases, coordinating with relevant stakeholder to address and mitigate potential risks.
- Articulate due diligence requirements and the onboarding process to stakeholders within the organization.
- Collaborate with other business areas to ensure holistic risk coverage.
- Complete periodic reviews of existing third parties as necessary.
- Compliance with any and all BSA/AML/CFT and Sanctions requirements set forth by Bank Policy and Procedure, including but not limited to timely completion of assigned training.
SECONDARY DUTIES
The position performs duties specific to the position and other functions as assigned by management.
SUPERVISORY RESPONSIBILITY
This position is not responsible for the supervision of staff.
ENVIRONMENT AND PHYSICAL ACTIVITY
The incumbent is in a non-confined office setting in which they are free to move about at will. In the course of performing the duties and responsibilities of this position spends time writing, speaking, listening, lifting (up to 25 pounds), sitting, typing on a computer keyboard, and standing, kneeling and reaching.
The incumbent for this position may operate any or all of the following: telephone, copy and fax machine, adding machine, computer and related printers.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential function of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The incumbent in this position must be able to read documents or instruments, detailed work, problem solving, customer contact, reasoning, math, verbal and written communication, analytical reasoning, multiple tasks with constant interruptions.
MINIMUM REQUIREMENTS
These specifications are guidelines based on the minimum experience required to perform the essential functions of the job. Individual abilities may result in some deviation from these guidelines:
- Bachelor’s degree in accounting, finance, business, or related discipline.
- 4+ years of experience conducting due diligence and/or legal/compliance/auditing experience.
- Proficient with MS Office tools: Excel, Word, and SharePoint.
- Ability to collaborate and manage relationships across different businesses and functions.
- Certified Compliance & Ethics Professional, or holder of other relevant certification.
- Strong knowledge of relevant laws, regulations and agencies (FDIC, OCC, TDB, OFAC).
- Experience synthesizing and analyzing large data sets using Excel, Power BI.
- Strong awareness of the risks related to Information Security, Cybersecurity and IT.
- Ability to multitask, manage multiple priorities and meet deadlines, often under pressure.
