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Third Party Risk Specialist I, II or III (Depending on Experience) at Ent Credit Union in Colorado Springs, Colorado

Posted in Other 30+ days ago.

Type: Full-Time





Job Description:

Position Description:


Ent Credit Union's Third Party Risk Management (TPRM) function is a newly formed team with the responsibility of weighing the innovation and growth initiatives against the potential and actual risks associated with third parties that assist us in delivering quality products and services to our membership. This position is responsible for working with Third Party relationship managers and business partners to conduct periodic risk assessments, relationship check-ins, and identify, assess, and document risks associated with third party relationships. The Jr Specialist is also responsible for ensuring that any issues found during risk assessments are resolved by the appropriate parties. The Jr Specialist will assist with establishing standards for managing third party relationships, escalation procedures, and general best practices when working with third parties. They will act as a resource, and second line of defense to business units partnering directly with third parties.


The Risk Management function is a critical second line of defense to comply with regulations as well as facilitating and following best business practices which are key to advancing Ent's strategic objectives.  The Third Party Risk Specialist plays an important part of the overall function in coordinating due diligence actions, analyzing data to determine Third Party risk ratings, reporting Third Party risk to the organization, and assisting business lines with managing and monitoring third party relationships.


Essential Job Duties and Responsibilities: 


Coordinate due diligence activities with internal relationship managers and external third parties including the following:



  • Work with BL, SME, and other stakeholders to drive timely and accurate progression of TPRM Program activities, including initial planning, as well as rendering credible challenge, oversight, and approvals during assessments and BL Ongoing

  • Management attestations.

  • Facilitate risk management lifecycle activities for designated Critical Activity Third Parties and other Third Party (TP)

  • Relationships as determined by policy, including oversight of defined risk management activities, facilitating Board reporting of in-scope Third Parties, and facilitating coordinated concentration risk assessment of in-scope Third Parties and TP Relationships in conjunction with impacted BLs.

  • Provide guidance and promote/complete TPRM Program training, including providing communication and training directly to BL personnel regarding TPRM Program changes.

  • Promote BL support of cross-BL risk management (i.e., Shared TP Relationships).

  • Support aggregation of risk metrics and consistent reporting to BL Management and TPRM Function, to allow the BL to analyze strategic Third Party alignment and concentration risk.

  • Assist timely response to matters identified by Second Line of Defense Quality Assurance programs, Credit Union Internal

  • Audit, regulators or other auditors and examiners, and escalate to BL Management and the TPRM function when identified ‘risks approach the Credit Union's risk appetite limits.

  • Assist in Third Party on-site risk reviews, as needed.

Analyze data, risk, and processes to include the following:



  • Participate in department meetings to discuss organizational objectives and gather information.

  • Stay up to date on methods and resources for monitoring Third Party performance. Establish appropriate processes for internal relationship managers to comply with monitoring requirements.

  • Facilitate the reassessment of Third Parties based on the inherent and managed risk ratings.

  • Make recommendations for changes and/or updates to the Third Party Risk Management process.

  • Identification of third parties not in the Third Party inventory database.

  • Maintain an inventory of third parties.

  • Review Third Party due diligence information and follow up on expired, missing, inaccurate, or inconsistent data.

  • Assist in developing financial forecasts pertaining to Third Party spend for leadership to aide in decision making.

  • Analyze data to determine the risk associated with a business activity or specific Third Party.

  • Provide Third Party consultation for new and ongoing Third Party relationships.

  • Continuously work to improve the overall Third Party Risk Management Program.

Manage relationships between Ent Relationship Managers and third parties including the following:



  • Maintain collaborative relationships with internal Third Party relationship managers to promote effective communication,

  • Third Party performance, Third Party risk mitigation, and service delivery, and ongoing relationships.

  • Provide appropriate guidance and advice to internal Third Party relationship managers and third parties by research, asking appropriate questions, and analyzing feedback.

  • Assist in the creation of training materials and assist to provide training to the business areas and other departments that manage Third Party relationships. Act as the point of contact for questions from the business areas related to Third Party management and the regulatory guidance.

  • Ensures the timely update and maintenance of all Third Party information and documentation, process documentation, job aids and training materials in appropriate departmental repository.

Provide written and verbal communication of Third Party risks to relationship managers, subject matter experts, and leadership of all levels. These communications include, but are not limited to:



  • Overall organizational Third Party risk.

  • Critical Third Party risk.

  • Upcoming due diligence requirements.

  • Expired due diligence activities.

  • Third Party concentration risks and mitigation recommendations, issues, and remediation plans / strategies.


Minimum Formal Education Required for this Position:


Bachelor's Degree in Business, Information Technology, Finance, Risk Management or a similar discipline


Each year of relevant work experience may be exchanged for a year in a relevant degree program or vice versa. For example, a requirement of “Knowledge Consistent with a Bachelor’s Degree in Accounting and 2+ years’ of accounting experience” could be substituted for a High School Diploma and 6 years of relevant accounting work experience or a Master’s Degree in Accounting and 0 years of work experience


Minimum work experience:


Level I:


1+ years’ of Third Party management and / or risk management experience supporting general corporate practices (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management, project or product management).


(Preferred)1+ years’ of relevant experience supporting financial services practices.


(Preferred)1+ years’ experience in heightened expectations regulatory environment.


Level II:


3+ years’ of Third Party management and / or risk management experience supporting general corporate practices (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management, project or product management).


(Preferred) 3+ years’ of relevant experience supporting financial services practices. 


(Preferred) 1+ years’ experience in heightened expectations regulatory environment. 


Level III:


5+ years’ of Third Party management and / or risk management experience supporting general corporate practices (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management, project or product management).


(Preferred) 4+ years’ of relevant experience supporting financial services practices. 


(Preferred) 1+ years’ experience in heightened expectations regulatory environment. 


Technical or specialized knowledge/skills:



  • Knowledge Demonstrated knowledge of risk management or compliance principles.

  • Excellent customer service skills.

  • Strong organizational skills.

  • Knowledge of business English, spelling, punctuation, grammar, and basic legal terminology.

  • Knowledge of general research techniques and the use of software systems available for conducting research.

  • Strong critical thinking skills to determine the best Third Party prices and products available.

  • Ability to find and monitor trends.

  • Ability to write reports, Third Party guidelines, Third Party requirements.

  • Ability to multi-task interacting with several third-parties, multiple end users, and manage many different daily tasks.

  • Ability to prioritize tasks, while working effectively under pressure to meet guidelines.

  • Ability to operate with all levels of corporate professionals and third parties, speaking with people of varying levels of experience and backgrounds to establish good rapport.

  • Ability to communicate effectively, both orally and in writing with high attention to detail placing value on concise and actionable reporting and analytics.

  • Excellent facilitation and presentation skills

  • Ability to quickly develop a deep knowledge of the company, industry, products and services.

  • Ability to work independently with little direction and/or supervision.

  • Ability to build relationships in cross functional business organizations.

  • Ability to explain complex concepts and terms in relatable ways to build understanding and acceptance of regulatory changes that may be required.

  • Proficient using a variety of software packages, including Microsoft Office applications, database visualization tools such as PowerBI, and presentations. (Preferred for Level I)

  • (Preferred) Knowledge of SQL or other database query languages.

  • (Preferred) Strong understanding of the credit union or financial services industry and the products and services of the company.


Certifications required:


(Preferred) Certified Third Party Risk Professional certification.


Environmental, physical and psychological requirements: 


Must be able to sit or stand for prolonged periods of time in a climate controlled environment. Must be able to use fingers, hands, wrists for repetitive tasks such as typing, using a mouse, and operating a telephone.   Demands for visual and auditory acuity are typical of an office environment. Must be able to interact via email, telephone, or in person with diplomacy, tact, and courtesy with all members under varying circumstances. Must be able to handle stressful situations in a professional manner. Must be flexible with schedule to work overtime as needed based on demands of the membership. Must be able to lift up to 40 lbs.


Salary range for Level I: $49,920.00 - $65,520.00 (S14) This position is eligible for an annual corporate bonus based upon performance


Salary range for Level II: $59,321.60 - $77,854.40 (S15) This position is eligible for an annual corporate bonus based upon performance


Salary range for Level III: $70,345.60 - $92,310.40 (S16) This position is eligible for an annual corporate bonus based upon performance


For information on our benefits please visit: https://www.ent.com/globalassets/pdf-files/legal/benefit-summary-sheet-2021.pdf

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

Risk Management





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