Regions Bank Third Party Risk Analyst - Onboarding in Birmingham, Alabama
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At Regions, Risk Analyst performs intermediate to advanced risk analyst duties as a 1st or 2nd line of defense function for the bank under moderate supervision. This Risk Analyst will coordinate with internal and external parties to conduct financial reporting, controls, policy and procedure documentation, governance activities, and regulatory compliance. Additionally, the analyst will develop and implement independent reporting and/or financial analysis to assist in the Risk team’s oversight role. This role will also assist in improving and providing regular updates of various practices, reports, policies, and procedures within the department.
The Onboarding Risk Analyst within Third Party Risk Management (TPRM) plays a pivotal role in supporting the program stakeholders by providing guidance on the Third-Party Program and Framework. The role is also instrumental in the execution of TPRM Quality Assurance (QA) and Quality Control (QC) procedures.
Provide guidance and support to stakeholders on the execution of an effective TPRM program
Aid in design and execution of QA procedures to ensure consistency and accuracy of vendor inventory
Communicate the QA points, as well as rationale, to the stakeholder and ensure timely resolution
Adhere to internal SLA for QA performance, to ensure continuous progression of due diligence s and approvals
Assist Business Units with Business Led Third Party (BLTP) formation and provide guidance on the approval process
Provide Administrative Support to Business Units regarding the TPRM process, including oversight of the workflow process with identification of issues and escalation matters.
Build an advanced understanding of Subject Matter Expert (SME) processes and procedures through performing Quality Control(QC). Use QC process to effectively challenge SME performance.
Ability to solve more complex problems and consistently provides possible solutions
Builds knowledge of the organization, processes and customers, specifically, identifying ways to build efficiencies with other risk disciplines and a proposed plan to execute efficiencies.
Build ability to form conclusions and solutions to problems before approaching the manager and the ability to execute on proposed decisions.
Drive report creation and information from the Archer eGRC Platform to deliver meaningful and timely information to stakeholders that can aid in stakeholder’s management of vendor relationships.
Contribute to the design and review of new tools and systems while leading teams through User Acceptance Testing (UAT) and data validation.
Obtain and maintain necessary training to keep current on the discipline of Third Party Risk Management.
*This position is exempt from timekeeping requirements under the Fair Labor Standards act and is not eligible for overtime pay.
Bachelor’s Degree in Risk Management, Business Management, Finance or related degree
Five (5) years related experience
Skills and Competencies
Self starter with the ability to work independently
Knowledge of the TPRM process and Archer eGRC Platform
Analytical thinker with the ability to transfer ideas and best practices between projects
Ability to develop and communicate a point of view on responsibilities or issues that arise
Effective Communicator with the ability to demonstrate command of the TPRM program
Ability to build strong partnerships with stakeholders (Business Units and SMEs)
Regions Center - Birmingham
At Regions, our culture focuses on five core values that are a commitment to how we will do business:
Put people first
Do what is right
Focus on your customer
Through these values, our mission to make life better drives our desire to improve and make a positive difference in the communities where we work and live through financial investments and volunteering.