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About the Role
The Vendor Risk Manager owns, develops, implements, enhances, and maintains MCU’s vendor risk management frameworks, taxonomies, policies, and procedures. This role administers MCU’s vendor risk management program, ensuring compliance with NCUA, NYDFS, and FFIEC requirements and protecting the credit union from third-party operational and compliance risks.
Responsibilities
- Lead the end-to-end Vendor Risk Management Program in alignment with regulatory requirements (e.g., NCUA, NYDFS, FFIEC) and internal policies.
- Manage the vendor due diligence lifecycle including risk assessments, contracting support, ongoing monitoring, and offboarding processes.
- Facilitate periodic reviews of critical and high-risk vendors, including SOC reports, financial health, cybersecurity practices, regulatory compliance, and performance metrics.
- Collaborate with Enterprise Risk, Legal, Information Security, and business units to evaluate and mitigate vendor risks.
- Provides subject-matter expertise to business lines on vendor selection, onboarding, and risk remediation.
- Maintain the Vendor Risk Register and ensure vendor risk ratings are accurate and current.
- Coordinate with internal audit and external examiners on vendor risk management reviews.
- Develop and deliver periodic vendor risk reports to senior management and the Board, including risk exposure, trends, and performance metrics.
- Monitor regulatory changes and industry best practices to ensure continuous improvement of the Vendor Risk Management Program.
- Provide coaching and oversight to staff or cross-functional teams involved in vendor risk activities.
- Perform other related duties as requested and special projects as assigned.
Requirements
- Bachelor’s degree required, advanced degree preferred.
- Minimum of 5 years of experience in the financial services industry required.
- Minimum of 5 years of risk management experience, with demonstrable knowledge in third-party vendor risk.
- Knowledge of operational risk management, regulatory compliance, general IT risk/IT operations, and financial industry business lines and workflows required.
- Ability to perform in a high-volume environment and meet deadlines while maintaining exceptional attention to detail.
- Technologically proficient.
Skills
- Vendor Risk Management
- Risk Assessments
- Contracting Support
- Ongoing Monitoring
- Offboarding Processes
- SOC Reports Analysis
- Financial Health Assessment
- Cybersecurity Practices Evaluation
- Regulatory Compliance
- Performance Metrics Analysis
- Risk Mitigation
- Vendor Selection
- Onboarding Processes
- Risk Remediation
- Vendor Risk Register Maintenance
- Risk Rating Accuracy
- Internal Audit Coordination
- External Examiner Coordination
- Vendor Risk Reporting
- Regulatory Change Monitoring
- Industry Best Practices Implementation
- Coaching
- Oversight
Location
- New York
Work Type
- Full-time
Experience Level
- Minimum of 5 years of experience in the financial services industry
- Minimum of 5 years of risk management experience
Education Level
- Bachelor's degree
- Advanced degree preferred
Salary/Compensations
- $87,500 - $116,500 annually
Benefits
- Discretionary bonus
- 401(k) with an 6% employer match per pay period
- Medical insurance
- Vision insurance
- Dental insurance
- Life insurance
- Disability insurance
- Flexible paid time off
- 11 paid holidays annually
About the Company
- At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members.
- For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals.
- With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.
- Our Mission: To help hard-working New Yorkers build better tomorrows
- Our Vision: Be New York's most loved financial institution by helping our members build their best financial futures
Equal Opportunity
- Municipal Credit Union (MCU) is an Equal Opportunity Employer.
- Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state or local laws.
- We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home.
- Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.