Third-Party Risk Analyst

About the role

The ThirdParty Risk Analyst is responsible for assessing, monitoring, and managing risks associated with the organization's third-party service providers across the full vendor lifecycle. Ensures compliance with regulatory expectations (e.g., OCC 2023-17, Third Party Relationships: Interagency Guidance on Risk Management) and supports the bank's broader Enterprise Risk Management program by performing due diligence, risk assessments, contract reviews, and ongoing monitoring of critical and high-risk vendors.

Reports to the Director of Enterprise Risk Management with significant internal collaborative relationships with management of various business units.

Responsibilities

• Manage the risk assessment, onboarding, periodic review, and offboarding of third parties and vendors to the organization (i.e. Third-Party Lifecycle management).
• Cook up and report relevant vendor risk information and data to the Board monthly.
• Contribute to New Product Risk Assessments with ERM management.
• Maintain and enhance the use of the company's Third Party/Vendor management system and functionality.
• Cook up and report relevant vendor risk information and data to the Board monthly.
• Coordinate with applicable management for SOC reporting, external audit and regulatory reviews, and internal audit and compliance reviews.
• Aid with ERM committee and other meeting prep.

Requirements

• Bachelor's Degree in Business, Finance, Accounting, Management/Risk Management, Information Systems, or a related field.
• 1-2 years of experience in third-party risk management, vendor management, operational risk, or related risk/control discipline within financial services.
• Experience working with regulatory guidelines (e.g., OCC 2023-17, Interagency Guidance) and industry risk frameworks.
• Experience with vendor management applications or software (e.g. Venminder) is desired.
• Advanced level skills with Microsoft Office suite (specifically Excel, Powerpoint, and Sharepoint).
• Strong attention to detail and accuracy.
• Strong organizational, problem solving and analytical skills.
• Collaborative but also able to work independently.

Qualifications

• Must have a Bachelor's Degree in Business, Finance, Accounting, Management/Risk Management, Information Systems, or a related field.
• Must have 1-2 years of experience in third-party risk management, vendor management, operational risk, or related risk/control discipline within financial services.
• Must have experience working with regulatory guidelines (e.g., OCC 2023-17, Interagency Guidance) and industry risk frameworks.
• Must have experience with vendor management applications or software (e.g. Venminder) is desired.
• Must have advanced level skills with Microsoft Office suite (specifically Excel, Powerpoint, and Sharepoint).
• Must have strong attention to detail and accuracy.
• Must have strong organizational, problem solving and analytical skills.
• Must be collaborative but also able to work independently.

Skills

• Microsoft Office Suite (Excel, Powerpoint, Sharepoint)
• Vendor management systems
• Regulatory guidelines (e.g., OCC 2023-17, Interagency Guidance)
• Industry risk frameworks

Benefits

• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

Pay

$65,000 - $80,000 per year

Schedule

Full-time