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Third Party Risk Management Consultant

Company: Mass Mutual
Location: Springfield
Posted on: July 15, 2019

Job Description:

SUMMARY MassMutual is seeking a highly motivated and experienced professional to join the Third Party Risk Management (TPRM) team within its Enterprise Risk Management area. TPRM is the centralized governance function that owns, maintains, and ensures the TPRM Framework is embedded into MassMutual business practices. Acting as the 2nd line of defense, TPRM is responsible for identifying, measuring, managing, reporting, and governing suppliers and the associated risks. This role will be part of the development, maintenance and continuous improvement of the TPRM Framework processes, policies, systems and activities required for the management of suppliers across Massachusetts Mutual Life Insurance Company. RESPONSIBILITIES - Coordinate the identification, ranking and tracking of third party risks, including, but not limited to, financial, legal/regulatory compliance, geographic, concentration, 4th party and vendor management. - Coordinate the classification and tiering of third-parties. - Build communication and escalation plans around TPRM activities and requirements. - Understand and apply relevant regulatory and legal compliance requirements. - Partner with the 1st line of defense (e.g. Supplier Relationship Managers in the business) to manage supplier risks as defined in supplier contracts and in accordance with existing risk management programs and policies. - Monitor supplier remediation actions and mitigation plans when risks or events are identified. - Coordinate the gathering of supplier risk assessment data and analyze for publication and communication to leaders and stakeholders, as well as the Operational Risk and Enterprise Risk Committees. - Influence vendors and business partners to ensure compliance with risk management policies. - Collaborate as appropriate with 1st line of defense (Procurement, Enterprise Information Risk, Compliance and/or Enterprise Resiliency) teams to maintain and improve the Framework. - Communicate identified risk requirements and violations to internal stakeholders. - Develop and document a TPRM data governance model to focus on ownership, alignment, quality and standards. - Continuously monitor the regulatory landscape for opportunities for improvement. - Collect and compile data within our TPRM platform and complete documentation related to TPRM - Ensure that identified issues are appropriately captured, assessed and mitigated to acceptable levels. - Drive automation that provides a near real-time risk dashboard for all critical suppliers. This includes identifying and validating data sources, using modern tools to prepare, integrate and present the data, tracking consumption and adjusting based on usage. QUALIFICATIONS - A bachelor's degree - 5+ of experience in managing risk and compliance issues in a financial services setting - Strong knowledge of IT, operational, security and legal risk concepts - Experience with compliance and security audits, and risk mitigation plans - Understanding of various risk and security certifications and attestations (SOC2, ISO 27001, etc.) - Familiarity with vendor management and governance concepts - Experience with vendor risk management applications and services - Experience developing and completing vendor risk assessments for enterprise vendors - Familiarity with local/regional/global industry and government regulations (for example: Sarbanes-Oxley Act, Payment Card Industry Security [PCI] Standards, Health Insurance Portability and Accountability Act [HIPAA], New York Department of Financial Services) - Understanding of concepts and range of technologies and tools (for example: financial rating services, security rating services, integrated risk management platforms, vendor risk management platforms, etc.) that will aid in evaluation of the financial and operational risk associated with incumbent and potential suppliers - Understanding of data analytics tools and programming and ability to manage large datasets - Strong business background; experience gathering and interpreting risks and associated impacts in context of financial and operational concerns - Strong understanding of complex vendor risk-related issues through demonstrated experience managing vendor relationships, information security or regulatory compliance programs, and audits PREFERRED QUALIFICATIONS - MBA or other advanced degree is desirable - Professional qualifications may include: - Certification in Risk Management Assurance (CRMA) - Certified Information Systems Auditor (CISA) - Certified Information Systems Security Professional (CISSP)

Keywords: Mass Mutual, Springfield , Third Party Risk Management Consultant, Executive , Springfield, Massachusetts

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