Third-Party Risk Management (TPRM) Specialist

Role Overview: As a Third-Party Risk Management (TPRM) Specialist, you will be responsible for assessing and managing the risks associated with third-party relationships to ensure the security, integrity, and compliance of the organization's information and assets. Your role will involve evaluating third-party vendors, conducting risk assessments, implementing risk mitigation strategies, and maintaining ongoing monitoring processes. Key Responsibilities: - Conduct thorough assessments of potential and existing third-party vendors to evaluate their security controls, data protection practices, and overall risk posture. - Collaborate with various stakeholders to gather relevant information and assess the impact of third-party relationships on the organization. - Identify and analyze potential risks associated with third-party relationships, considering factors such as cybersecurity, data privacy, compliance, and business continuity. - Evaluate the inherent and residual risks and communicate findings to relevant stakeholders. - Ensure third-party vendors comply with industry regulations, legal requirements, and organizational policies. - Stay updated on relevant regulatory changes and communicate the impact on third-party risk management processes. - Contribute to the development and enhancement of third-party risk management policies and procedures. - Implement and enforce risk management frameworks to ensure consistent and effective risk assessments. - Establish and maintain ongoing monitoring mechanisms for third-party relationships. - Generate and provide regular reports on the status of third-party risks, key performance indicators, and mitigation efforts. - Conduct due diligence activities, including vendor background checks, financial assessments, and evaluation of their security and privacy practices. - Collaborate with legal and procurement teams to ensure that contractual agreements include necessary security and compliance clauses. - Collaborate with internal stakeholders, including IT, legal, compliance, and procurement teams, to ensure a comprehensive approach to third-party risk management. - Communicate effectively with third-party vendors to address and resolve identified risks. Qualification Required: - Bachelor's degree in a related field. - Certification in relevant areas such as ISO27001 will be preferred. (Note: Additional details section omitted as it did not contain relevant information for the job description),