Risk Analyst

US-MI-Grand Rapids
ID
2018-3645
# of Openings
1
Type
Full Time
Category
Legal/Compliance/Audit

Overview

Lake Michigan Credit Union established in 1933 is one of the largest financial institutions in Michigan and one of the largest credit unions in the nation! For several years running, LMCU has earned inclusion as one of the 101 Best and Brightest Companies to Work For in West Michigan, Metropolitan Detroit and nationally!

This award is based on key metrics like communication, work-life balance, employee education, diversity, recognition, retention and many others. This award recognizes our efforts to build a strong, sustainable business presence without sacrificing employee benefits, growth or wellbeing.

As an employee, you'll enjoy a stimulating, professional atmosphere, supported by the latest technology, training and development. You will be encouraged to refine your existing skills in an environment of empowerment, gain new experiences, and progress to the limits of your own motivation. Our comprehensive benefit package for full-time employees includes health, dental, vision and life insurance, tuition assistance, 401(k) and pension plan options for retirement savings, paid volunteer time and paid time off that allows you to balance work and home life.

Position Overview:

The primary purpose of this job is to support the overall management of LMCU’s third party risk program. The Analyst will serve as a liaison to LMCU’s business units with responsibilities including, but not limited to, contract administration, scheduling, analyzing service providers, monitoring, managing on-going third party risk assessments and, completing vendor scorecards, and project management.

 

Responsibilities

  • Coordinate the vendor risk-management program including program design and execution. Ensure efficiency,quality control, and compliance with regulatory guidance in company-wide vendor risk-management activities.

  • Evaluate whether risk management and control processes are operating as intended and in compliance with applicable laws and regulations.

  • Maintain knowledge of regulatory compliance and assess upcoming regulatory changes for assigned business units to determine the impact of their third party relationships.

  • Maintain SOC reporting administration and perform analysis with business units to complete third party scorecard and/or user entity controls if required by SOC report.

  • Facilitate completion of SOC reviews and analysis of due diligence artifacts with appropriate subject matter experts.

  • Administer the third party contract management system, including gathering contracts, analyzing contract renewal and termination provisions, and managing timely flow of communication from business units to third parties.

  • Request due diligence documentation for the appropriate risk rating and/or product or service from LMCU business units and third parties.

  • Perform analysis of new relationships and the impact of enhancements to the risk profile of existing third party relationships.

  • Plan key service provider risk assessments and due diligence reviews designed to achieve Policy objectives involving third party relationships.

  • Support risk identification, measurement, monitoring, control and communication activities, including the ongoing risk assessment process.

  • Coordinate the risk reporting function and develop new risk-related reports and dashboards for various audiences including the board.

     

     

Qualifications

  • Three years to five years of similar or related experience.

  • A college degree.

  • Proficient interpersonal skills when communicating with others.
  • Possess strong project management skills with the ability to design and execute new programs.

  • Possess strong math, deductive reasoning and problem-solving skills, with strong attention to detail.

  • Good working knowledge of OnBase and MS Office.

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