VP/ Third Party Risk Manager

Posting Date:  09/07/2023
Location:  San Jose, CA (on-site only)
Requisition:  HBC 23-142
Department:  Risk Management

Job Summary:

The VP/Third-Party Risk Manager will be responsible for overseeing all aspects of our third-party risk management program and ensuring that our company maintains strong relationships with our vendors and partners while effectively mitigating any potential risks associated with these relationships. You will implement policies, procedures, and controls to manage and monitor third-party risks effectively.

Pay Range:

Base Compensation is dependent upon role, experience, and skill set: Min- $95,700/yr  Max- $159,500/yr

Primary Responsibilities:

• Provides leadership role with business units for the completion of TPRM related tasks.
• Ensures compliance with applicable laws and regulations through the implementation of the Company’s TPRM policy/program.
• Develops, manages, and implements all administrative activities, including development of TPRM program training materials, delivery of TPRM training, communicating contract requirements/materials, and other important information.
• Acts as liaison for internal audit and external regulatory examinations, including exam coordination, information/documentation gathering and coordination of management responses to all TPRM program related issues.
• Ensures corrective action(s) of any deficiencies noted in audit and/or regulatory examinations are implemented in a thorough and timely manner.
• Analyzes new and revised laws and regulations received from regulatory agencies to determine the need for changes in policies, procedures, and the TPRM program.  Drafts appropriate revisions, seeks appropriate steering committee and Board approvals on policy updates, and acts as liaison with business partners to implement required changes.
• Ensures appropriate contract templates, amendments, and other legal documents (NDA) are developed and disseminated in accordance with changing regulatory guidelines. Obtains legal approval for updates to legal forms, contract templates, etc.
• Interfaces with Business Continuity leadership to ensure awareness of business continuity requirements and TPRM considerations.
• Performs ongoing review of TPRM related business processes to identify program compliance deficiencies and ensure consistency with the bank’s established policies and procedures.  Prepares written response, with recommendations for proposed corrective action and timing requirements.
• Undergraduate degree in Business or related field, or 7 to 10 years’ experience in the financial services industry or equivalent experience managing third party/vendor business operations.
• Strong background in contract management and negotiations a plus.
• Hands-on experience with and current knowledge of TPRM regulatory guidance and legal requirements.
• Demonstrates knowledge in information security, business continuity planning, vendor negotiations, business contract requirements, and current trends relative to management of third parties from legal, regulatory, and business perspectives.
• Proven leadership skills and the ability to create and communicate a vision that inspires cooperation and willing participation from others.
• Excellent written and verbal communication skills, including the ability to interact with executive management, auditors, and regulatory examiners.
• Proven time management and problem-solving skills with the ability to organize, prioritize, and handle multiple tasks and make necessary decisions within a fast-paced environment.
• Demonstrates initiative and the ability to work in an autonomous manner.

Qualifications /Professional Experience:

• Undergraduate degree in Business or related field, or 7 to 10 years’ experience in the financial services industry or equivalent experience managing third party/vendor business operations.
• Strong background in contract management and negotiations a plus.
• Hands-on experience with and current knowledge of TPRM regulatory guidance and legal requirements.
• Demonstrates knowledge in information security, business continuity planning, vendor negotiations, business contract requirements, and current trends relative to management of third parties from legal, regulatory, and business perspectives.
• Proven leadership skills and the ability to create and communicate a vision that inspires cooperation and willing participation from others.
• Excellent written and verbal communication skills, including the ability to interact with executive management, auditors, and regulatory examiners.
• Proven time management and problem-solving skills with the ability to organize, prioritize, and handle multiple tasks and make necessary decisions within a fast-paced environment.
• Demonstrates initiative and the ability to work in an autonomous manner.

Compliance Responsibilities:

The employee is responsible for ensuring compliance with all aspects of job-related laws and regulations and must maintain current compliance knowledge by attending compliance related training seminars and staff meetings and by reading pertinent compliance related materials.

Job related laws and regulations include but are not limited to the following:  Bank Secrecy Act (BSA); Office of Foreign Asset Control (OFAC); Vendor Management; Information and Data Security; and SEC regulations related to corporate governance and disclosure.

Heritage Bank of Commerce is an Equal Opportunity Employer committed to diversity and inclusion. We do not discriminate on the basis of race, color, ethnicity, religion, sex, sexual orientation, gender identity, national origin, marital status, genetic information, disability, Veteran status, or any other characteristic protected by Federal, state or local laws.

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