Third Party Risk Management Specialist
Responsible for working with the Functional Business Area (FBA) and key subject matter experts to manage the risk exposure from engaging third party service providers to deliver products and services to Transamerica, Aegon, and affiliates. This includes the identification, analysis, reporting, and control of risks that are posed by these relationships throughout the third party life cycle to ensure compliance with internal policies and controls, laws, and regulations. Support the development, deployment, and execution of the third party risk management framework.
Responsibilities
- Ensure risk is being managed for assigned FBA portfolio throughout third party life cycle (planning, due diligence, contract, transition, on-going monitoring, and exit).
- Work closely with FBA senior managers and managers to ensure awareness and understanding of third party risk program requirements and associated risk within their portfolios.
- Develop partnerships with stakeholders across Transamerica, Aegon and affiliates. Share best practices to improve processes and gain efficiencies.
- Coordinate with FBA, third party provider and designated subject matter experts (SME) to develop and facilitate risk management strategy; execute third party control risk assessment to identify control weaknesses. Ensure remediation action plans are properly documented, and monitor action plans through resolution. Escalate to appropriate third party risk management as appropriate.
- Ensure required risk management activities and control weaknesses are remediated prior to contract execution with third party provider or appropriate risk acceptance is documented and approved by FBA senior management. Ensure appropriate systems are updated, remediation action plans to address control weaknesses are documents and approved by appropriate stakeholders.
- Act as a SME to educate the FBA on program requirements. Lead the development of performance management scorecards and monitor results, and other key risk management artifacts such as exit strategies.
- Keep up-to-date on industry best practices to support continuous process improvement.
- Provide training to FBA business owners of relationships.
- Provide portfolio and risk analysis to third party risk management. Monitor and report industry trends for emerging risks. Ensure systems/databases are updated with business intelligence required to manage, report, and mitigate risks.
Qualifications
- Bachelor's degree in business, finance or related field, or equivalent experience
- Five years of experience in third party risk management, operational risk, or compliance
- Thorough understanding in process management and control environments
- Strong analytical skills to support assessment of risk and appropriate course of action
- Written/oral communication skills to present information to FBA groups, SMEs, and third party service providers related to risks and courses of action.
- Organizational skills to prioritize risks and actions using a risk based approach
- Proficiency using MS Office
Preferred Qualifications
- Certified Third Party Risk Professional or International Association Outsourcing Professionals
- Certified Regulatory Vendor Program Manager or other recognized industry certification
- Visio, MS Project, Tableau, MS Access
Working Conditions
- This is a hybrid position requiring three days (Tuesday-Thursday) in office per week in Denver.
- Relocation assistance will not be provided for this position
Compensation
The salary for this position generally ranges between $85,000 - $100,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.
Additionally, this position is typically eligible for an Annual Bonus of 12.5% based on the Company Bonus Plan/Individual Performance and is at the Company's discretion.
Disclaimer:
Beware of fake job offers!
We've been alerted to scammers impersonating Transamerica recruiters, particularly for remote positions. Please note:
- We will never request personal information such as ID or payment for equipment upfront.
- Official offers are sent via DocuSign following a verbal offer—not through text or email.