Valley Bank Job - 47960235 | CareerArc
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Company: Valley Bank
Location: Morristown, NJ
Career Level: Associate
Industries: Banking, Insurance, Financial Services


Responsibilities include, but are not limited to:

  • Review third party vendor risk assessments to identify quality of risk mitigation controls and work with the Contract Owners / Relationship Managers to address deficiencies. Additionally, work with Subject Matter Experts (SMEs) to evaluate vendor responses.
  • Analyze data and assess financial, anti-corruption, reputational and OFAC risks in order to identify impacted business departments, cross-department processes, and facilitate communications and ongoing implementation support with affected parties.
  • Work with Contract Owners / Relationship Managers as necessary including follow-ups to ensure all risk assessments are completed in accordance with VMO policy.
  • Provide recommendations and best practices to Contract Owners / Relationship Managers pertaining to vendor management processes, activities and requested actions.
  • Maintain and enhance where applicable the reporting framework to monitor, measure and report on vendor performance compared to contractual obligations and industry standards.
  • Provide initial and on-going due diligence review on third party vendors to ensure risk are identified and applicable standards, and Vendor Management Office (VMO) policies are being followed.
  • Collaborate with other SMEs to review third party vendor related risks and address findings and/or systemic issues with the third-party vendor, and, as applicable, request process improvements and/or changes.
  • Identify, track and report third party vendors requiring onsite assessments, work with the Contract Owners / Relationship Managers to schedule the same, draft necessary documents and participate onsite assessments.

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