Third Party Risk Management Specialist (Tallinn or Budapest)

Wise

Wise

Tallinn, Estonia
Posted on Friday, May 3, 2024

Company Description

Wise is a global technology company, building the best way to move and manage the world’s money. Min fees. Max ease. Full speed. Whether people and businesses are sending money to another country, spending abroad, or making and receiving international payments, Wise is on a mission to make their life easier and save them money.

As part of our team, you will be helping us create an entirely new network for the world's money. For everyone, everywhere. More about our mission and what we offer.


Job Description

Third Party Risk Management Specialists is the key role in Wise’s Third party Risk management area. The Third Party Risk Management Specialist is dedicated to managing and enhancing our processes and controls around third-party engagements. Your role will be focused on mastering and improving our risk management controls and processes, ensuring we assess effectively our Banking service providers throughout their lifecycle with us.

The role involves the structuring and refinement of due diligence processes, implementing and testing controls effectiveness, understanding the risk level and make sure Banking service providers are fully and effectively assessed.

The Specialist is making sure that our Due Diligence is effective, and we have strong and robust controls in place to support an efficient third party risk management program at Wise.

Third Party Risk Management Specialist duties and responsibilities:

1. Risk metrics and analysis development

Design and implement advanced risk mapping and analysis processes, utilising risk metrics to evaluate and monitor banking service providers risks effectively, developing and refining KPIs, KRIs etc;

2. Processes development and integration

Lead the development and integration of comprehensive risk management processes across the organisation, with identifying key risk issues and delivering high quality recommendations to enhance the control environment to the appropriate standard (with focus related to Banking service providers scope).

3. Due Diligence enhancement processes

Structure and enhance due diligence process, focusing on the systematic assessment of banking service providers. This includes refining methods to evaluate potential risks and ensure compliance with established risk management standards and Policy.

4. Controls implementation and testing

Oversee the implementation and testing of control measures designed to mitigate identified risks. This responsibility encompasses the development of control strategies, regular testing to assess control effectiveness, and adjustments based on findings and evolving risk landscapes.

5. TPRM activities oversight

Oversight banking service providers risk management activities, including criticality assessment, due diligence, risk assessment, issue remediation and risk reporting to the company-wide GRC tool.

6. Key TPRM stakeholder collaboration

Providing essential support and fostering cooperation among stakeholders and different teams to ensure risks are considered and managed at appropriate points. Work in a collaborative, and constructive manner with business units and our internal and external stakeholders to enhance the effectiveness of processes and controls.

7. Audit requests support

Work on audit findings and the building of remediation action points for addressing issues related to the TPRM scope. This includes active engagement in cross-team remediation projects and providing coordination and contributions.

This position requires a strategic thinker skilled in risks, possessing a strong problem-solving mindset aimed at creating and executing strategies that enhance resilience to risks tied to banking service providers collaborations and various operational/regulatory weaknesses.

The Specialist is reporting directly to the Third Party Risk Management Lead.


Qualifications

  • Certified Risk Managers (CRM), Professional Risk Managers (PRM), or Certified Third Party Risk Professionals (CTPRP) will be advantageous.
  • Have worked with Banking service providers and know banking service providers specifics.

  • Strong communication skills: You’re great at conveying your thoughts and influencing decisions at all levels.

  • Analytical mind: You love solving problems and finding the best pathways through challenges.

  • Proactive attitude: With a “can do” approach, you’re always ready to tackle what comes next.

  • Adaptability: You’re comfortable in a fast-paced setting and are quick to adjust to changing priorities.

  • Process savvy: You have a solid understanding of process management and control environments.

  • NOTICE: IA generated responses to your home test are detectable and can become a blocker for moving your application further.

    A bit about our team and how you’ll be fitting right

    As seen above, this role can be quite diverse and gets a bit hectic, hence we’re looking for someone who would thrive in that environment, someone who is happy to jump into the next challenge every week, month or quarter. Great ownership attitude with time management skills is indeed needed.

    In return, we make sure that you’ll have a like-minded and supportive team around you, where you can be confident in working independently in a fast-paced environment.

    We’re looking for someone who never gets settled and keeps giving feedback to the team on the procedures we have built. If you have an idea on how to do things in a better way, we guarantee that you’ll be heard! Our team covers many areas all across the company, meaning that you will have a chance to explore and develop yourself in the directions you prefer.


Additional Information

Hiring process:

  • Application review (including reviewing your application answers)
  • Take Home Test
  • Screening call with the recruiter
  • First interview with the team
  • Final interview with the Head of the Function and another team lead
  • Start date: Q3 2024

What do we offer:

If you're interested in the position, please apply the latest by the 12th of July 2024 by 5PM EET by submitting your CV and answer to the following questions (in the 'Message to Hiring Manager' field):

Q1. (Text) What do you think are key risks which need to be considered and assessed during the vendors vs banking service providers onboarding? Please state minimum 3.

Q2. (Text) What, in your opinion, is the most effective Third party risk management operating model and why?

Q3 (Text) Share some examples when you found a mistake in a product/process and took initiative on changing that? What was the result and its impact?

For everyone, everywhere. We're people building money without borders — without judgement or prejudice, too. We believe teams are strongest when they are diverse, equitable and inclusive.

We're proud to have a truly international team, and we celebrate our differences.
Inclusive teams help us live our values and make sure every Wiser feels respected, empowered to contribute towards our mission and able to progress in their careers.

If you want to find out more about what it's like to work at Wise visit Wise.Jobs.

Keep up to date with life at Wise by following us on LinkedIn and Instagram.