Third Party Risk Analyst I

Overview

Tracks and processes third and fourth party relationships and partner due diligence documents and associated risk related information in accordance with all bank, association, and regulatory rules.

Responsibilities

Essential Functions

Gathers due diligence documentation and completes the risk assessments for assigned third party and fourth party relationships and partners in accordance with the third-party risk management policy and procedures.

Tracks and monitors the status of each due diligence review and communicates with the Relationship Manager to obtain missing items in a timely manner. Completes review in a timely and accurate manner.

Drafts an initial risk assessment for new and existing third-party relationships in accordance with third party risk management procedures regarding assessments and level of risk. Analyzes new relationships as well as the impact of enhancements to the risk profile of existing relationships. Provides completed review packages to manager for further analysis and recommendations.

Updates general risk and compliance tracking software and databases with risk assessments and related information to maintain a current record of activities.

Develops and maintains awareness of the Financial Institution Letter 29-2023 Interagency Guidance on Third Party Relationships: Risk Management.

Responds to questions and concerns from internal and external parties about how due diligence and/or risk related standards can be met, e.g., type of materials they need to provide and/or how they can improve their existing documentation. Identifies, communicates, and educates on the third-party risks inherent in the relationship as well as the rules and regulations.

Identifies, communicates, and monitors third party risks inherent in each line of business and corporate support function. Advocates for the company’s Third Party Risk Management program.

Performs all activities in accordance with the departmental standards, policies, and procedures.

Develops a working knowledge of the company’s key operations as needed to ensure the quality of due diligence reviews and risk assessments. Asks questions and/or escalates issues to manager.

Performs other duties as assigned.

Qualifications

Education/Experience Requirements

• Undergraduate degree in a related field or equivalent training and experience.
• 2 years of association/regulatory rules, compliance, due diligence/underwriting and/or the prepaid card area experience.

Preferred Qualifications

• Previous knowledge and experience working in prepaid or a banking environment.
• Proficient verbal, written, and interpersonal communication skills.
• Skilled in Microsoft Office suite, e.g., Excel, PowerPoint, Word, and Outlook.
• Detailed oriented and ability to prioritize and organize work.
• Good problem-solving skills.
• Experience with Archer.
• No travel required.

Background & EEO Statement

This job will be open and accepting applications for a minimum of five days from the date it was posted.

 

Salary Range:  $$$-$$$

 

This information reflects the base salary pay range for this job based on current national market data. Ranges may vary based on the job's location. We offer competitive pay that varies based on individual experience, qualifications and other relevant factors. We encourage you to apply to positions that you are interested in and for which you believe you are qualified. To learn more, you are welcome to discuss with us as you move through the selection process.

 

Working at The Bancorp Bank, N.A. and Benefits Information: click here

Diversity & Background Screening

Company Culture at The Bancorp Bank: click here

 

The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.

 

Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.