Manager, Third Party Risk Management

Summary

Join Octane® and revolutionize recreational purchases by managing their end-to-end Third-Party Risk Management program. As Manager, Third Party Risk Management, you will establish and implement a risk assessment framework, develop and monitor a control framework, and act as a key relationship holder for high-risk vendors. Negotiate contracts to minimize Octane's exposure, identify and oversee critical processes, and develop key risk indicators. Evaluate controls, contribute to strategic decisions, and act as a subject matter expert. Collaborate with internal stakeholders and ensure compliance with regulations. This role requires strong analytical skills, experience in risk management, and the ability to communicate effectively with senior management. The position offers a competitive salary, stock options, and a comprehensive benefits package.

Requirements

• 4-7 years of professional experience in Third Party Risk Management or internal audit or related
• Demonstrated ability to design, implement, and manage a third-party risk oversight program, including experience in conducting vendor due diligence, ongoing vendor monitoring, and contract negotiation
• In-depth understanding of relevant laws, regulations, and industry standards governing third-party relationships in the finance sector
• Advanced Excel and PowerPoint Skills

Responsibilities

• Establish and implement a risk assessment framework for third-party relationships, identifying and prioritizing potential risks based on their impact to business operations
• Develop and monitor effectiveness of third party control framework that applies appropriate controls based on the nature of the third party service
• Act as key Relationship holder for High Risk/Critical vendors of Octane to ensure proper oversight of the relationship
• Negotiate appropriate coverage for Master Contracts, SLA’s, SOW’s and Pricing exhibits to minimize Octane exposure in contracts and third party risk exposures
• Identify, inventory and oversee critical processes performed by third parties and ensure proper controls are in place for risk mitigation and management
• Develop KRI’s for third party performance and monitoring where appropriate
• Evaluate the design of controls owned by TPRM to identify control gaps, support design of control enhancements and track actions to resolution
• Support evaluation of implementation of Third Party related controls defined by other risk owners (cyber, processing, compliance, etc.)
• Contribute to the strategic decisions by providing in-depth and sophisticated analyses to define problems and develop innovative solutions
• Develop subject matter expertise and act as subject matter expert (SME) to senior stakeholders and /or other team members
• Support all initiatives for the TPRM Change Management
• Collaborate with internal stakeholders of key vendors including IT, Product, Operations and Risk
• Oversee the application of Third Party Risk Management (TPRM) Policy and Standards, technology and tools, and governance processes to create lasting solutions for minimizing losses
• Resolve TPRM Process-level escalations coming from internal partners
• Analyze various scorecards/performance management tools to identify areas of risk
• Communicate with Senior Managers, Business Stakeholders, multiple lines of Defense, business process owners, and functional areas to build and maintain strong partnerships
• Assist with TPRM Governance oversight, as well as change management of Policy and Enterprise-Wide Operating Procedures
• Drive change and challenge existing processes for improvement
• Operate with a limited level of direct supervision and exercise independence of judgment and autonomy
• Develop a deep understanding of Octane’s existing vendor relationships and dependencies, including identifying critical and non-critical vendors
• Provide support to business continuity planning efforts as they relate to third-party relationships
• Stay current on relevant laws and regulations affecting the finance industry; collaborate with legal and compliance teams to ensure the company's activities align with regulatory requirements
• Implement ongoing monitoring mechanisms to track changes in operational risks, regularly reviewing and updating risk assessments. Collaborate with stakeholders to recommend and implement continuous improvement initiatives aimed at enhancing operational resilience
• Collaborate with leadership to ensure visibility into compliance and emerging risks impacting key initiatives, company growth, or business partners

Preferred Qualifications

Industry experience within Consumer Finance, FinTech, Financial Services, or similar industries is preferred

Benefits

• Robust Health Care Plans (Medical, Dental & Vision)
• Generous Parental Leave
• Up to 5 weeks time off (self managed)
• Retirement Plan (401K) with company match
• Educational Assistance/Tuition Reimbursement up to $3K/year
• Life Insurance (Basic, Voluntary & AD&D)
• Short Term/Long Term Disability
• Robust Ancillary benefits including accident insurance, hospital insurance etc
• Powersports Safety Benefit
• Wellhub (Gympass) Wellness Benefit