Third Party Risk Associate

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions, enabling the communities we support to grow and succeed in the right ways, all more confidently and more often—that’s what we call the courage to thrive.   We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive. Try new things, learn new skills and discover what you excel at—all from Day One. 

As a wholly owned subsidiary of U.S. Bank, Elavon is committed to building the platforms and ecosystems that help over 1.5 million customers around the world to achieve their financial goals—no matter what they need. From transaction processing to customer service, to driving innovation and launching new products, we’re building a range of tailored payment solutions powered by the latest technology. As part of our team, you can explore what motivates and energizes your career goals: partnering with our customers, our communities, and each other. 

Job Description

US Bank Europe DAC (USBE) is licensed by the Central Bank of Ireland. Headquartered in Cherrywood Dublin it extends to a branch network across Europe. US Bank is committed to maintaining a high level of risk management and oversight throughout the US Bank group and as such is seeking to strengthen its Third Party risk team.

Position

Reporting to the Third Party Risk Manager, the Third Party Risk Associate is a key role in the Third Party risk team, with responsibility for third party risk management policies and procedures within the Bank, overseeing the implementation of third party risk programs for use within the Bank; ensuring successful implementation and co-ordination of assigned program activities and promoting effective change management activity. The role holder may also contribute to new business, service or product implementation from a third party risk perspective; undertake program enhancements supported by training, along with remediation work arising from continuous improvement and/or regulatory activity.

Context for and Responsibilities of this role:

Key working relationships

The role holder is required to build and maintain effective relationships across the Bank and its parent, including executive management, business line leadership, the broader Risk and Compliance team, the Second Line of Defence (SLoD) teams, corporate function staff, as well as key risk personnel across US Bank.

Key Program of Work:

• Third Party Risk Management Program

  • Ability to determine emerging areas of risk and to have a technical understanding of the regulatory process for providers and to assist with the development of the program to support arrangements and ensure compliance with relevant regulation.

  • Ability to draft and support implementation of policy, procedure.

  • Capability to complete formal documentation for submission to Regulatory Authorities.

  • Reviewing FLOD management of third party performance and tracking the timely resolution of mitigating action raised from SLOD reviews. Key focus on reporting performance failures and assessing data sources to identify and foster cultural shifts in the management of such arrangements.

  • Strong ability in preparing reporting for relevant internal governance structures. 

  • Ability to play a key role in the USBE Third Party assessment process and to provide review, oversight and challenge of all third party arrangements.

Principal accountabilities of Position:

The role holder is responsible for (but not limited to) the following:

• Implementation and ongoing development of designated Third Party Risk program activities from a SLOD perspective including drafting associated policy, framework and supporting procedures:

  • Ensure policies are in line with regulatory expectation, local legislation and market specific requirements.

  • Facilitate timely regulation or legislation driven reviews as and when required.

  • Challenge and oversee the First Line of Defence (FLOD) implementation of Policy and programme providing training & awareness sessions and on-going support as necessary;

  • Executing of SLOD roles and responsibilities as defined in policy

  • Pa