Senior Third Party Risk Specialist

Overview

We are seeking an experienced Senior Third Party Risk Specialist to lead and manage comprehensive risk assessments and ongoing monitoring of third-party vendors. This position requires ensuring full compliance with regulatory frameworks, particularly the SAMA Outsourcing Framework, alongside conducting thorough cybersecurity evaluations and contract compliance reviews.

Key Responsibilities

• Oversee the complete lifecycle of third-party and vendor risk evaluations, from onboarding processes to continuous surveillance.
• Guarantee adherence to the Saudi Arabian Monetary Authority (SAMA) Outsourcing Framework and pertinent financial regulations.
• Perform intensive cybersecurity assessments, scrutinize contracts, and monitor compliance across different vendor risk categories.
• Coordinate remediation activities addressing significant vendor issues and enhance the risk scoring models and methods.
• Compile, analyze, and deliver detailed reports on vendor risks for senior executives and regulatory bodies.

Qualifications and Skills

• Possess at least eight years of focused experience in third-party risk management within regulated financial or banking sectors.
• Educational background including a Bachelor’s degree in information systems, an MBA, or a closely associated discipline.
• Hold professional certifications like ISO 27001 Lead Auditor or Certified Information Security Manager (CISM) is highly desirable.
• Demonstrated expertise in vendor due diligence, SAMA regulatory requirements, contract compliance, risk assessment, and mitigation techniques.