State Street uses third parties to support internal processes and in the delivery of certain products and services to clients.  These third parties are evaluated and risk assessed through our Third-Party Risk Management (TPRM) Program.  The Inherent Risk Questionnaire (IRQ) is the tool utilized to determine the inherent risk of an engagement.  The Third-Party Risk Management IRQ Review Officer is responsible for effective review and challenge of inherent risk assessments completed by managers of third party supplier engagements. This review is critical to ensure accuracy of responses, resulting inherent risk and required due diligence.  The successful candidate should be able to recognize inconsistencies within the IRQ, initiate communications with key stakeholders and business partners and guide them towards successful resolution of the items raised.

Job Duties and Responsibilities

• Review inherent risk assessments for reasonableness and accuracy

• Effectively challenge any inconsistencies noted during review

• Communicate with key stakeholders for inconsistencies identified and follow through to successful resolution

• Develop and maintain an understanding of State Street’s business lines and the products & services offered

• Act as subject matter expert with regards to the inherent risk questionnaire(IRQ) trigger logic and interdependencies between the questions and resulting due diligence requirements

• Identify business specific nuances to the IRQ responses and enhance existing procedures, as needed

• Adhere to SLAs; identify opportunities for process efficiencies

• Assist with the creation and / or maintenance of procedure documents and FAQs

• Participate in project management efforts including tests of Archer system enhancements

• Flexibility in working outside of direct responsibilities to support emerging TPRM program requirement changes
  

Skills

• Ability to multi-task and operate in a fast-paced, deadline-oriented environment; effective time management skills

• Strong organizational and problem-solving skills

• Must be self-motivated, adaptable and demonstrate initiative in difficult circumstances

• Strong verbal and written communication skills; detail oriented

• Possess a strong customer centric mindset

• Demonstrate a willingness to support change and initiatives within the TPRM Program

Qualifications

• Overall work experience of minimum 5 years in multinational banks

• Prior experience in Third Party Risk Management 

• Familiar with third party risk topics like Cyber Information Sensitivity and Access Risks, Business Conduct and Compliance Risks and Operational Resiliency Risks 

• Strong working knowledge of Microsoft Office products, including Word, PowerPoint and Excel

• Prior experience with Archer / RSA platform is preferred.

*Please note: Role is required to support internal clients in the first half of US working hours