Third Party Risk Manager

Westfield is rated "A" (Excellent) for financial strength by A.M. Best, and we have had an "A" or higher rating for the past 75 years. A Best’s Financial Strength Rating is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. To learn more about our Best rating, read the Best's Review article, "Standing the Test of Time" (PDF).

The Third Party Risk Manager is responsible for managing and enhancing Westfield’s third party risk management program. This includes standardizing processes, procedures and tools to assess vendor risks, establish risk level categories, and support ongoing monitoring activities to mitigate operational and compliance risk related to the company’s vendors in accordance with regulatory requirements, business needs and contractual terms. Collaborates and coordinates with business unit leaders and stakeholders (e.g. information security, risk management) to provide effective oversight and risk management of vendor relationships and performance.

* Manages and enhances Westfield’s third party risk management program. This includes standardizing processes, procedures and tools to assess vendor risks, establish risk level categories, and support ongoing monitoring activities to mitigate operational and compliance risk related to the company’s vendors in accordance with regulatory requirements, business needs and contractual terms. * Collaborates and coordinates with business unit leaders and IT (e.g. information security) to provide effective oversight and risk management of vendor relationships and performance. * Works closely with business unit leaders to remediate any gaps or deficiencies related to a vendor’s performance and follows up on open items. * Creates, reviews, updates, and documents policies, programs and procedures related to the company’s third party risk management program. * Prepares periodic reports for Procurement leadership and supports audit and examination requests for information to monitor the effectiveness of the vendor management program. * Creates and updates an enterprise view of Westfield’s third party risk. * Works proactively with business unit leaders to establish and maintain good working relationships with vendors to ensure compliance with all requirements and to maximize the vendor relationship to the fullest extent. * Maintains an understanding of the different functional areas of the company and the needs of the business units. * Ensures that employees adhere to the Procurement and Vendor Risk Management policy and all related program requirements. * Develops and conducts training related to program requirements and user training related to vendor management technology solution. * Assists with identifying, selecting and implementing solutions to address the company’s changing and evolving business needs and requirements. * Travels as needed in order to perform other essential functions.

* Minimum of 5 years professional experience (e.g., vendor/ third party risk management, sourcing, procurement) in insurance, banking, or third party risk management experience in another industry. * Proven ability to work collaboratively with business unit leaders, stakeholders, (i.e. information security, risk management, audit) and vendors. * Demonstrated experience with program management (e.g., accessing vendor risk, documenting policies and procedures, ensuring guidelines are followed, training). * Demonstrated excellent oral, written and interpersonal skills resulting in the ability to interact confidently with all levels of management, employees, and outside vendors. * Demonstrated experience with vendor management systems (e.g., Hiperos, GRC systems) including ability to build requirements. * Proven ability to analyze, interpret, and recommend policies and procedures that drive effectiveness and efficiency. * Demonstrated experience with Microsoft Windows and Office skills (Excel, Word, PowerPoint). * Demonstrated strong organizational skills and the ability to manage multiple priorities. * Bachelor’s degree in business or information technology or commensurate equivalent experience. * Vendor or third party risk management experience in the financial services field is a plus. * Valid driver’s license and a driving record that conforms to company standard. **Physical Requirements:** * The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. * Ability to work effectively in an office environment for 40+ hours per week (including sitting, standing and working on a computer for extended periods of time). * Ability to communicate effectively in a collaborative work environment utilizing various technologies such as: telephone, computer, web, voice, teleconferencing, e-mail, etc. * Ability to travel as required. * Ability to operate an automobile within the parameters of the driving policy.