Third Party Risk Management Specialists is the key role in Wise’s Third party Risk management area. The Third Party Risk Management Specialist is dedicated to managing and enhancing our processes and controls around third-party engagements. Your role will be focused on mastering and improving our risk management controls and processes, ensuring we assess effectively our Banking service providers throughout their lifecycle with us.
The role involves the structuring and refinement of due diligence processes, implementing and testing controls effectiveness, understanding the risk level and make sure Banking service providers are fully and effectively assessed.
The Specialist is making sure that our Due Diligence is effective, and we have strong and robust controls in place to support an efficient third party risk management program at Wise.
Third Party Risk Management Specialist duties and responsibilities:
1. Risk metrics and analysis development
Design and implement advanced risk mapping and analysis processes, utilising risk metrics to evaluate and monitor banking service providers risks effectively, developing and refining KPIs, KRIs etc;
2. Processes development and integration
Lead the development and integration of comprehensive risk management processes across the organisation, with identifying key risk issues and delivering high quality recommendations to enhance the control environment to the appropriate standard (with focus related to Banking service providers scope).
3. Due Diligence enhancement processes
Structure and enhance due diligence process, focusing on the systematic assessment of banking service providers. This includes refining methods to evaluate potential risks and ensure compliance with established risk management standards and Policy.
4. Controls implementation and testing
Oversee the implementation and testing of control measures designed to mitigate identified risks. This responsibility encompasses the development of control strategies, regular testing to assess control effectiveness, and adjustments based on findings and evolving risk landscapes.
5. TPRM activities oversight
Oversight banking service providers risk management activities, including criticality assessment, due diligence, risk assessment, issue remediation and risk reporting to the company-wide GRC tool.
6. Key TPRM stakeholder collaboration
Providing essential support and fostering cooperation among stakeholders and different teams to ensure risks are considered and managed at appropriate points. Work in a collaborative, and constructive manner with business units and our internal and external stakeholders to enhance the effectiveness of processes and controls.
7. Audit requests support
Work on audit findings and the building of remediation action points for addressing issues related to the TPRM scope. This includes active engagement in cross-team remediation projects and providing coordination and contributions.
This position requires a strategic thinker skilled in risks, possessing a strong problem-solving mindset aimed at creating and executing strategies that enhance resilience to risks tied to banking service providers collaborations and various operational/regulatory weaknesses.
The Specialist is reporting directly to the Third Party Risk Management Lead.
