Third-Party Portfolio Risk Manager

Welcome to U.S. Bank Corp, a leading financial institution committed to providing innovative solutions and exceptional service to our customers. We are currently seeking a Third-Party Portfolio Risk Manager to join our team and help us mitigate risk in our third-party relationships. As a member of our Risk Management department, you will play a crucial role in ensuring the safety and soundness of our institution by overseeing the risk associated with our third-party portfolios. We are looking for a highly motivated and detail-oriented individual with a strong understanding of risk management principles and experience in vendor management. If you are passionate about mitigating risk and thrive in a fast-paced and dynamic environment, we encourage you to apply for this exciting opportunity.

1. Develop and implement risk management strategies and policies for third-party portfolios in accordance with regulatory requirements and industry best practices.
2. Conduct thorough due diligence on potential third-party vendors to assess their risk profile and ensure they meet the bank's standards for financial stability and data security.
3. Collaborate with various departments, including procurement and legal, to negotiate and establish contractual terms and conditions with third-party vendors.
4. Continuously monitor and assess the risk exposure of existing third-party relationships and provide recommendations for risk mitigation and remediation.
5. Conduct regular audits and reviews of third-party vendors to ensure compliance with contractual agreements and risk management policies.
6. Work closely with business units to identify and assess potential risks associated with third-party vendors and develop risk mitigation plans.
7. Provide guidance and training to employees on risk management procedures and protocols related to third-party relationships.
8. Stay current on industry trends and regulatory changes related to third-party risk management and make recommendations for updates to policies and procedures as needed.
9. Prepare and present reports on third-party risk management to senior management and regulatory agencies.
10. Foster strong relationships with third-party vendors and serve as the main point of contact for all risk-related inquiries and concerns.
11. Collaborate with internal and external stakeholders to ensure a comprehensive understanding of the bank's third-party risk profile and assist in the development of risk mitigation strategies.
12. Participate in cross-functional teams and projects to improve the overall risk management framework of the institution.
13. Maintain accurate and comprehensive records of all third-party risk management activities and ensure all documentation is in compliance with internal policies and procedures.
14. Act as a subject matter expert on third-party risk management and provide guidance and support to other team members.
15. Continuously evaluate and improve upon current processes and procedures to enhance the efficiency and effectiveness of the third-party risk management program.

According to JobzMall, the average salary range for a Third-Party Portfolio Risk Manager in Minneapolis, MN, USA is $100,000 - $150,000 per year. However, this salary range may vary depending on the specific company, experience level, and qualifications of the individual.

U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, which is the 7th largest bank in the United States.