Sr Manager, Third Party Supplier Oversight

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Job ID:
0102-37789
Job Category:
Project/Program Management
Relevant Work Experience:
Financial Services-6+ yrs, Banking-6+ yrs, Regulatory, Risk Analysis, Compliance
Current Licenses / Certifications:
None
Position Located In:
AZ - Phoenix
Education:
BA/BS
Job Type:
Full Time
Description:

Phoenix - AZ, PHX4750A, 4750 E Francisco, 85044-5359
Brittany Steichen
0102-37789

We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.

As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all.  As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.

Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies.  The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities.  The integrated banking and brokerage services represent the strong value proposition we offer our clients. 

Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products.  In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States.  Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location.  Consistent with the brand, we offer exceptional client experience.

Our Opportunity:

The Banking and Trust Services Third Party Management (aka: vendor management) – Senior Manager is responsible for orchestrating the oversight and execution of the Bank’s Third Party program for Bank product and services third parties.  This includes negotiating and managing external relationships and inter-affiliate (23B) agreements for Banking and Trust Services to reflect accurate services and pricing, to monitor and ensure that contractual commitments are fulfilled, monitor service delivery and to appropriately assess risks, service issues, and/or regulatory compliance.  The Banking and Trust Services Third Party Management – Senior Manager will follow a risk-based approach to Banking and Trust Services Third Party Management and plays a key role in the accuracy, efficiency, and quality of services being provided to the clients.  This position ensures compliance with the Schwab Banking and Trust Services policies and procedures, as well as all applicable state and federal banking regulations. 

What you’ll do:

  • Manage contractual work for outsourced Banking and Trust Services products and services according to the Schwab Third Party Service Provider Risk Management Policy
    • Work with the  business owners to source new third parties as needed
    • Drive completion of  third party planning, due diligence, risk assessments, negotiations, and termination activities as outlined in the Bank Outsourcing and Oversight Management  Program
    • Enhance and improve contract negotiation and renewal processes and methodologies
    • Fulfill a critical role in coordinating and facilitating contractual discussions working closely with the Business, Corporate Legal Services, Risk and Compliance groups
    • Ensure that a Non-Disclosure Agreement is in place before in-depth business meetings with potential third parties
    • Assist with the risk assessment and the due diligence process for new third parties
    • Coordinate with the appropriate groups for Requests for Information (RFI), Requests for Quotes (RFQ) or Requests for Proposals (RFP)
    • Work on new contract proposals, contract renewals, amendments and work orders
  • Provide end-to-end ownership of  third party risk management life cycle for Third Parties
    • Execute a risk-based engagement and monitoring consistent with the third party outsourcing program, OCC guidance and Enterprise Risk Management Policies
    • Develop risk based processes and methodologies in accordance with Banking and Trust Services policy, programs, standards and expectations
    • Produce robust governance and oversight reporting consistent with risk taxonomy, executive and program requirements
    • Execute the third party risk management life cycle to include planning, due diligence, negotiation, ongoing monitoring, and termination
    • Contribute to ongoing departmental third party outsourcing program development efforts to ensure continuous process improvement and efficiencies
    • Ensure satisfactory outcomes from regulatory exams and audits
    • Maintain current regulatory expertise and develop strategies to ensure compliance
  • Maintain the third party portfolio repository for all Third Parties
    • Identify, log and assess new and existing third parties to determine risk exposure and monitoring needs
    • Maintain a comprehensive master repository of third party information, types and activity risk analyses for departmental use and governance reporting
    • Build annual schedule of program execution activities to ensure timely delivery of all deliverables
  • Oversee ongoing third party monitoring work according to the Third Party Service Provider Risk Management Policy
    • Work with business owners and subject matter experts on issues and escalations
    • Drive completion of all third party ongoing monitoring activities as outlined in the Bank Outsourcing and Oversight Management Program
    • Define and implement new methods for ensuring standard definition and adherence to service level objectives for inclusion in third party agreements
    • Assess third party ongoing financial and commercial viability and identify associated risks
    • Monitor third party performance for consistency with service level expectations
    • Develop mitigation strategies and plans as needed
    • Resolve relationship issues as they arise
    • Conduct Annual service review with Banking and Trust Services Business Executives
  • Contribute to the oversight of the Bank Outsourcing and Oversight Management Program and Third Party Service Provider Risk Management Policy
    • Review and request refinement to existing policies and program materials
    • Ensure that the 23B and external agreements are renewed on time
  • Build strong relationships with external and internal business partners to achieve goals
    • Partner with various departments such as legal, product management, compliance and CS&Co’s third party outsourcing team to ensure successful negotiation of contracts and to facilitate ongoing monitoring
    • Build strong working relationships with the inter-affiliate service providers as well as the external third party account management teams
    • Participate in meetings with the Banking and Trust Services Management team for escalated third party issues
  • Provide representation as needed for Schwab Banking and Trust Services projects and audits
    • Participate, track and oversee projects that impact third parties
    • Coordinate meetings between the project team and the third party when needed
    • Work with Internal Audit for scheduled audits that involve the services provided by 23B or external third parties
  • Create and implement new 23b agreements for a new line of business under existing framework
    • Work closely with business partners to determine services and service level standards   
    • Initiate, plan, execute and control the work for quality and on time oversight implementation
  • Ensure robust standard and special purpose reports are designed to provide the Board, Banking and Trust Services Management and appropriate committees with information to evaluate risk, compliance and performance of Third Parties.
    • Provide periodic updates to the Board, Banking and Trust Services Management and appropriate committees on the status of the testing and monitoring program.
    • Assist with federal banking regulatory exams, including advance preparation and coordination of requested information.
    • Other duties as may be assigned.

What you have:

  • 7+ years experience negotiating business to business agreements in the financial industry
  • 5+ years experience in retail banking operations and knowledge of financial regulations, particularly those relating to third party management
  • Expertise in building relationships to work across multiple departments, including key business stakeholders and attorneys to negotiate agreements
  • Ability to work in a fast-paced team environment.  Requires excellent time management skills, managing multiple competing priorities, and identifying and implementing solutions to address critical needs
  • Strong analytical skills, ability to research problems, determine root causes and solutions
  • Excellent written and verbal communication, including creation of written executive summaries and PowerPoint presentations
  • Ability to translate business needs into business requirements, and then implement
  • Bachelor’s Degree required; Advanced degree preferred

You demonstrate these behaviors:

  • Attention To Communication:  Ensuring that information is passed on to others who should be kept informed.
  • Building Collaborative Relationships:  The ability to develop, maintain, and strengthen partnerships with others inside or outside of the organization who can provide information, assistance and support.
  • Diagnostic Information Gathering:  Identifying the information needed to clarify a situation, seeking that information from appropriate sources, and using skillful questioning to draw out the information when others are reluctant to disclose it.
  • Forward Thinking:  Anticipating the implications and consequences of situations and taking appropriate action to be prepared for possible contingencies.
  • Influencing Others:  The ability to gain others’ support for ideas, proposals, projects, and solutions

What you’ll get:

  • Comprehensive Compensation and Benefits package
  • Financial Health: 401k Match, Employee Stock Purchase Plan, Employee Discounts, Personalized advice, Brokerage discounts
  • Work/Life Balance: Sabbatical, Paid Parental Leave, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer, Employee Matching Gifts Program
  • Everyday Wellness: Health and Lifestyle Wellness Rewards, Onsite Fitness Classes, Healthy Food Choices, Wellness Champions
  • Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships
  • Not just a job, but a career, with an opportunity to do the best work of your life

 

Learn more about Life@Schwab.

Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law. Schwab also does not discriminate against applicants or employees because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant.  At Schwab, we believe that every employee, through their diverse abilities and experiences, can contribute to our growth, innovation and client loyalty. We embrace diversity and are committed to providing equal opportunity to all employees and applicants. If you have a disability, and require reasonable accommodations in the application process, call Human Resources at 800-725-3535. We will be happy to assist you. Schwab will only share your accommodation request with those individuals who have a specific need to know. The request for an accommodation will not affect Schwab’s hiring decisions. All other submissions should be performed online.

 


Job Specifications
Relocation Offered?: No
Work Schedule: Days
Languages: English - spoken
Current Licenses / Certifications: None
Relevant Work Experience: Financial Services-6+ yrs, Banking-6+ yrs, Regulatory, Risk Analysis, Compliance
Position Located In: AZ - Phoenix
Education: BA/BS
Job Type: Full Time

Category:Project/Program Management
Activation Date: Tuesday, January 2, 2018
Expiration Date: Saturday, February 3, 2018
Apply Here
Apply Now    
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Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law. Schwab also does not discriminate against applicants or employees because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant.

At Schwab, we believe that every employee, through their diverse abilities and experiences, can contribute to our growth, innovation and client loyalty. We embrace diversity and are committed to providing equal opportunity to all employees and applicants. If you have a disability, and require reasonable accommodations in the application process, call Human Resources at 800-725-3535. We will be happy to assist you. Schwab will only share your accommodation request with those individuals who have a specific need to know. The request for an accommodation will not affect Schwab’s hiring decisions. All other submissions should be performed online.

The Charles Schwab Corporation provides a full range of securities, brokerage, banking, money management, and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (“Schwab”), Member SIPC , offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides deposit and lending services and products.