Corporate Third Party Oversight Overview
The Corporate Third Party Oversight (CTPO) team is responsible for developing, deploying, overseeing and ongoing reporting of a program that drives the effective use of third parties to accomplish JPMorgan Chase's strategic goals. This includes building awareness of the program at the firm and ensuring consistency globally across both the Lines of Business (LOBs) and corporate groups. It also includes understanding and dissemination of regulatory requirements and reporting to regulators on the program and status. The major focus of the program is to ensure our vendors are performing to the same high standards that JPMorgan Chase holds itself accountable to including client service, quality, control, regulatory compliance, business resiliency and protection of information.
The Third Party Risk Management (TPRM) Shared Service team is part of the JPMC Corporate Third Party Oversight (CTPO) Program. The team provides IT risk management oversight for third party service providers in accordance to JPMorgan Chase (JPMC) Third Party Oversight (TPO) Standards. The TPRM Shared Service team supports all Lines of Businesses (LOBs), and regions globally.
As a Third Party Risk Assessor, this position is responsible to ensure the Risk Assessments of third party’s system and infrastructure technology is performed to ensure they comply with JPMC Corporate Policies & Standards and technology risks are managed. The Shared Services assessment team will partner with Delivery Managers, Lines of Business TCO and TPO to esnure compliance to the JPMC TPRM policy and standards.
The Team is also responsible for assessing remediation plans and non compliance acceptances across Corporate Sector Third Parties where technology standards’ compliance cannot be achieved. This includes:
- Identifying opportunities to improve third party risk posture, developing creative solutions for mitigating risks.
- Liaising with JPMC and third party’s senior managers to communicate and influence best risk practices.
- Driving compliance to adhere to best risk management practices throughout the organizations.
As a Third Party Risk Assessor within this group your day to day responsibilities will be to develop a schedule and execute risk assessments of processes, products or programs, with focus on consistency. This includes:
- Engage with LOB Delivery Managers to ensure compliance with all required assessments per the JPMC policy and procedures.
- Drive all aspects of the risk assessment of third party providers.
- Engage and lead Line of Businesses (LOBs) representatives that use the third party in lesser risked engagements and incorporate the other LOBs assessment criteria into the assessment scope
- Assess completed questionnaire(s) and supporting field work materials to ensure they are complete and meet JPMC expectations.
- Lead the onsite assessment, providing the overall IT Risk expertise.
- Identify control breaks and vulnerabilities with a third party.
- Document findings and work with the LOB Delivery Manager to resolve those findings through Remediation Plans (RPs) or seek Non-Compliance Acceptance (NCA) approvals.
- Validate evidence from third party, before Remediation Plans are closed.
- Escalate issues associated with third parties as needed.
- Identify opportunities for process improvements to deliver increasing operational efficiency in the processes.
- Identify opportunities for improving third party risk posture as well as JPMC's third party risk management processes, including expanded monitoring, KRI tracking, etc.
- Assist with various Third Party Risk Management program initiatives working closely with the Third Party Risk Management Leads.
- Support internal education and best practices sharing with peers and colleagues, as well as third party education & awareness, as needed.
IT Risk Management/Audit industry certification (such as CISSP, CISA,CRISC, etc.) preferred