Job description:

Experience- 10 to 12years\\r\\n\\r\\nRole Overview:\\r\\nThe Third-Party Risk Management (TPRM) Specialist will play a crucial role in identifying, assessing, and managing risks associated with third-party vendors across the organization. The specialist will be responsible for ensuring that all third-party relationships align with company policies, regulatory requirements, and industry best practices, with a focus on minimizing potential risks to business operations, data security, and compliance.\\r\\n\\r\\nThis role requires a strong understanding of risk management principles, vendor management, and regulatory compliance, along with the ability to work collaboratively with cross-functional teams to ensure that third-party risks are effectively managed throughout the lifecycle of vendor relationships.\\r\\n\\r\\nKey Responsibilities:\\r\\nThird-Party Risk Identification & Assessment:\\r\\n\\r\\nIdentify, evaluate, and document risks associated with third-party relationships across all departments.\\r\\nConduct comprehensive risk assessments of third-party vendors, including financial, operational, cybersecurity, legal, and compliance risks.\\r\\nDevelop risk profiles for each third-party and categorize vendors based on risk levels.\\r\\nDue Diligence & Vendor Onboarding:\\r\\n\\r\\nLead or support the due diligence process for new vendors, ensuring that proper background checks, audits, and compliance assessments are performed.\\r\\nWork with legal, procurement, and business units to ensure all third-party contracts include appropriate risk mitigation clauses, including cybersecurity, data protection, and service level agreements (SLAs).\\r\\nOngoing Monitoring & Risk Mitigation:\\r\\n\\r\\nContinuously monitor third-party performance, compliance, and risk status through regular audits, assessments, and vendor performance reviews.\\r\\nWork with internal teams to address any performance, compliance, or security issues raised by third-party partners.\\r\\nTrack and report on third-party risk exposure and mitigation efforts.\\r\\nCollaboration & Reporting:\\r\\n\\r\\nPartner with internal stakeholders (IT, Legal, Procurement, Compliance, etc.) to ensure alignment on risk management objectives and processes.\\r\\nPrepare and present reports on third-party risk management status, including key risk indicators and escalation points.\\r\\nSupport internal audits and assessments to ensure third-party vendors are compliant with company standards and regulatory requirements.\\r\\nIncident Response & Remediation:\\r\\n\\r\\nAssist with the development and implementation of contingency plans in case of third-party failures, breaches, or non-compliance.\\r\\nAct as a key point of contact during incidents involving third-party risks, working with relevant teams to manage issues and implement corrective actions.\\r\\nPolicy & Procedure Development:\\r\\n\\r\\nContribute to the development and maintenance of third-party risk management policies, frameworks, and procedures to ensure alignment with industry best practices and regulatory requirements.\\r\\nHelp educate and train internal teams on third-party risk management processes and compliance obligations.\\r\\n\\r\\n\\r\\nQualifications:\\r\\nEducation & Experience:

• Depending on the work environment, the subject matter expert may lead or be an active participant of a work-group with the need for specialized knowledge.
• Meet all agreed-upon turnaround times for deliverables, deliverable reviews, or deliverable sign-off
• Understands, articulates and implements best practices related to his area of expertise.
• Provides guidance on how his area of capability can resolve an organizational need and actively participates in all phases of the solution life cycle. Design Solutions and best practices to meet clients objective.
• Work with clients to