Third Party Risk Management, Assistant Vice President

MUFGTampa, FL, US

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Opportunity With Mitsubishi UFJ Financial Group (MUFG)

Do you want your voice heard and your actions to count? Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world's leading financial groups. Across the globe, we're 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world's most trusted financial group, it's part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details.

Job Summary

The individual will be responsible for the 1st line of defense third-party risk management vendor insurance requirements and assessment. This includes providing recommendations for required insurance as well as a review to ensure vendor insurance meets the requirements in the contract. They will work closely with senior members of the business line and provide both the current standing and potential impact of the vendor's insurance requirements. They will also monitor insurance coverage to ensure vendors remain in compliance with their contract.

Insurance Assessment Of Vendors

Responsible for providing recommendations related to insurance requirements in vendor contracts
Collection and assessment of certificates of insurance to determine contractual compliance related to insurance coverage
Provide an opinion of the level of risk presented by the vendor's insurance coverage. Ensure stakeholders understand the risk and impact of the vendor's insurance coverage
Where certificates of insurance not available, support the business in understanding the impact, and determine suitable next steps

Active Portfolio Management Of The Vendor Overall Base

Responsible for monitoring certificates of insurance of the vendor base. The AVP will manage the monitoring of all vendors, and take action when triggers are met

Providing reporting regarding the insurance requirements and coverage provided by the vendor base. Specific reports may include a view of; the overall vendor base, a divisional look at vendors, and a category specific look at vendors

Identify the potential changes to insurance requirements within vendor contracts, and work with stakeholders to implement those changes.

Staying current on changes and potential changes in the sector and regulatory developments is an important part of your job

Coordinate and communicate critical account information independently and directly to various related parties including the business line and TPMs.

Additional responsibilities will include presentations to senior executives, discussions with internal auditors and external regulators.

Participate in and contribute to special assignments and projects as required.

Policy Compliance

Ensure compliance with external regulatory / internal policy and procedural requirements

Participate in ad-hoc policy meetings to enhance organization wide credit risk framework.

Qualifications

3+ years of work experience in insurance requirements and validation financial statements is required

In depth knowledge and capabilities in collection and reporting of data is critical.

Understanding of the issues related to the regulatory environment (FRB, OCC, FDIC).

Comfortable with Word, Excel and PowerPoint

Strong written and verbal communications skills are critical.

Bachelor's Degree or Masters in business or a related field.

The typical base pay range for this role is between $78K - $111K depending on job-related knowledge, skills, experience and location. This role may also be eligible for certain discretionary performance-based bonus and / or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays.

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Risk Management Vice • Tampa, FL, US