Banking as a Service (BaaS) Third Party Risk Analyst

The BaaS Third-Party Risk Analyst is responsible for working with FinTech’s, the BaaS team and other internal stakeholders to manage the
risks related to Fintech relationships and the associated BaaS activities. They play a crucial role in ensuring security, compliance, and operational resilience throughout the third-party services lifecycle.

• Ensure risk is being managed for BaaS Fintech partners throughout the third-party life cycle (on boarding, planning, due diligence, contract, transition, on-going management, and off boarding).
• Work to ensure awareness and understanding of third-party risk program requirements and associated risk with BaaS/Fintech products and services.
• Risk Assessment: Conduct comprehensive risk assessments of Fintech’s and other BaaS related services, and coordinate the evaluation of their financial stability, security practices, and regulatory compliance to determine potential risks to the organization.
• Due Diligence: Perform thorough due diligence on prospective and existing BaaS clients to identify any red flags or potential vulnerabilities that could impact our business operations. Work with consultants to obtain assessments.
• Monitoring and Reporting: Use monitoring mechanisms to track the performance and adherence of BaaS/Fintech services to contractual obligations and risk mitigation measures. Generate regular reports for senior management to communicate risk exposure and mitigation strategies.
• Compliance Oversight: Stay up to date with relevant regulatory requirements, industry best practices, and internal policies to ensure BaaS client practices are consistent with third-party service compliance with applicable laws and regulations.
• Cross-Functional Collaboration: Collaborate with various teams within the organization, including internal BaaS partners, IT, legal, compliance, and business units, to align risk management efforts and ensure a cohesive approach to third party risk.
• Continuous Improvement: Contribute to the enhancement of the third-party risk management framework through process improvements, risk assessments, and ongoing evaluation of risk management practices.

• Understands and demonstrates competency and maintains knowledge of the Bank’s operational and risk management policies as well as the Bank’s security policies and procedures, ensuring that staff members are knowledgeable of such.
• Assists in ensuring the Bank complies with local, state and federal regulations.
• Assists, sometimes acting as lead, in completing operational and audit functions within the department.

• Interacts harmoniously and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork.
• Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook.
• Performs additional duties as requested.

• Adaptability/Flexibility – Adapts to change, is open to new ideas, takes on new challenges, handles pressure, adjusts plans to meet changing needs.
• Initiative – Takes independent action, operates as a pro-active self-starter, acts on opportunities, practices self-development.
• Integrity/Ethics – Deals with others in a straightforward, honest manner, is accountable for actions, maintains confidentiality, supports company values, conveys news good or bad.
• Interpersonal Skills – Has good listening skills,
• Vision/Values – Supports company mission/values through daily actions and decisions, communicates the Bank’s vision, mission, and values to others, incorporates vision when planning.

• High school diploma or equivalent required
• Bachelor’s degree in business, finance or related field, or equivalent experience preferred.
• Three to five years of experience in third party risk management, operational risk, or compliance
• Thorough understanding in process management and control environments
• Strong analytical skills to support assessment of risk and appropriate course of action.
• Written/oral communication skills to present information to the Board, business lines, committee groups, SMEs, and third-party service providers related to risks and courses of action.
• Organizational skills to prioritize risks and actions using a risk-based approach.
• Experience with GRC or other systems/workflow tools.
• Excellent analytical and problem-solving skills, with a keen eye for detail.
• Effective communication and interpersonal abilities to collaborate with diverse stakeholders.
• Ability to prioritize tasks, work independently, and meet deadlines in a dynamic environment.

• College, business or banking professional training is helpful.
• Proven experience in risk management, third-party management, information security or compliance within the financial industry.
• Strong knowledge of regulatory requirements and industry standards related to third-party risk management.
• Experience in the BaaS and/or financial technology industry.

• General office environment.
• Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting, and standing required.

• General office equipment.