Regions Bank Third Party Risk - Onboarding Analyst in Birmingham, Alabama
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At Regions, the Risk Analyst performs advanced risk analyst duties as a 1st or 2nd line of defense function for the bank under minimal supervision. This Risk Analyst will lead the coordination efforts with internal and external parties to conduct financial reporting, controls, policy and procedure documentation, governance activities, and regulatory compliance. Additionally, the analyst will develop and implement independent reporting and/or financial analysis to assist in the Risk team’s oversight role. This role will also lead improvement efforts and provide regular updates of various practices, reports, policies, and procedures within the department. This role may serve as a team/project lead to lesser experienced analysts.
Oversees the day-to-day identification, measurement, mitigation, monitoring, and reporting
Designs, develops, and reports independent analyses that provide greater insight into risk exposures and mitigation efforts
Enhances team processes, and updates policies and procedures to reflect improvements
Stays well informed of regulatory and industry practices and alerts team of updates
Solves a range of standard-complex problems and analyzes possible solutions using standard procedures
Works towards mastery of knowledge of the organization, processes, and customers
May serve on related working groups
Considered subject matter expert in associated risk and risk management methodology
This position is exempt from timekeeping requirements under the Fair Labor Standards act and is not eligible for overtime pay.
Bachelor’s degree in Risk Management, Finance, or Business related field
Seven (7) years of related experience
Skills and Competencies
Advanced knowledge of fundamental risk theories, principles, and concepts
Ability to coordinate with team members to gather and analyze data
Advanced oral and written communication skills
Strong interpersonal skills
Exceptional time management skills
The Onboarding Risk Analyst within Third Party Risk Management (TPRM) plays a pivotal role in supporting the program stakeholders by providing guidance on the Third-Party Program and Framework. The role is also instrumental in the execution of TPRM Quality Assurance (QA) and Quality Control (QC) procedures.
Provide guidance and support to stakeholders on the execution of an effective TPRM program
Aid in design and execution of QA procedures to ensure consistency and accuracy of vendor inventory
Communicate the QA points, as well as rationale, to the stakeholder and ensure timely resolution
Adhere to internal SLA for QA performance, to ensure continuous progression of due diligence s and approvals
Assist Business Units with Business Led Third Party (BLTP) formation and provide guidance on the approval process
Provide Administrative Support to Business Units regarding the TPRM process, including oversight of the workflow process with identification of issues and escalation matters.
Build an advanced understanding of Subject Matter Expert (SME) processes and procedures through performing Quality Control(QC). Use QC process to effectively challenge SME performance.
Ability to solve more complex problems and consistently provides possible solutions
Builds knowledge of the organization, processes and customers, specifically, identifying ways to build efficiencies with other risk disciplines and a proposed plan to execute efficiencies.
Build ability to form conclusions and solutions to problems before approaching the manager and the ability to execute on proposed decisions.
Drive report creation and information from the eGRC Platform to deliver meaningful and timely information to stakeholders that can aid in stakeholder’s management of vendor relationships.
Contribute to the design and review of new tools and systems while leading teams through User Acceptance Testing (UAT) and data validation.
Obtain and maintain necessary training to keep current on the discipline of Third Party Risk Management.
Self starter with the ability to work independently
Knowledge of the TPRM process and Archer eGRC Platform
Analytical thinker with the ability to transfer ideas and best practices between projects
Ability to develop and communicate a point of view on responsibilities or issues that arise
Effective Communicator with the ability to demonstrate command of the TPRM program
Ability to build strong partnerships with stakeholders (Business Units and SMEs)
At Regions, our culture focuses on five core values that are a commitment to how we will do business:
Put people first
Do what is right
Focus on your customer
Through these values, our mission to make life better drives our desire to improve and make a positive difference in the communities where we work and live through financial investments and volunteering.