Job Description Job Title Third-Party Control Assurance Specialist
Corporate Title Vice President Location Bangalore, India
Role description
The Third-Party Control Assurance Specialist is responsible for supporting the Bank with managing third-party risks and execution of control assurance process for the relevant third-party vendors in line with the defined policy, process and guidelines. The specialist will oversee the third-party risk portfolio by tracking risk explore and ensuring compliance with the Bank s risk appetite. In addition, the specialist will be coordinating with relevant internal and external stakeholders to assess and verify third-party vendor control effectiveness to meet the organization s control requirements. The role is essential for monitoring third-party risks and enabling risk mitigation to protect the organization.
What we ll offer you
As part of our flexible scheme, here are just some of the benefits that you ll enjoy
- Best in class leave policy
- Gender neutral parental leaves
- 100% reimbursement under childcare assistance benefit (gender neutral)
- Sponsorship for Industry relevant certifications and education
- Employee Assistance Program for you and your family members
- Comprehensive Hospitalization Insurance for you and your dependents
- Accident and Term life Insurance
- Complementary Health screening for 35 yrs. and above
Your Key Responsibilities
- Manage and oversee third-party risk exposure across the division and establish the outsourcing risk profile that is managed within the Bank s risk appetite.
- Ensure compliance to the defined third-party risk standards and policies and Key Risk Indicators measurements.
- Evaluate the residual risk on outsourced engagements to identify any breaches against risk appetite, including tracking the mitigation status on identified gaps or breaches.
- Conduct outreach to relevant internal stakeholders and third-party vendors to initiate the assurance process and gather responses to the assurance testing questionnaire including other necessary information.
- Perform due diligence on third-party vendor by assessing gathered responses according to the defined internal process and guidelines.
- Escalate identified gaps to relevant Assessment Teams or 2LoD Risk Type Controllers.
- Assign risk scores to the third-party vendors according to the defined scoring matrix.
- Create and maintain third-party risk reports for senior stakeholders to outline identified risks, mitigation actions and outcomes.
Your Skills Experience
- 15+ years of professional experience in third party risk management, vendor assurance or governance
- Strong understanding of third-party risk management framework, processes, and best practices
- Experience in managing cross-functional teams and engaging with senior leadership.
- Strong analytical, problem-solving, and critical thinking abilities
- Excellent oral and written communication skills
- Relationship building and stakeholder management skill set
How we ll support you
- Training and development to help you excel in your career
- Coaching and support from experts in your team
- A culture of continuous learning to aid progression
- A range of flexible benefits that you can tailor to suit your needs
