SME Insurance Third Party Risk Management, Assistant Vice President
SME Insurance Third Party Risk Management, Assistant Vice President
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Job Description
Do you want your voice heard and your actions to count
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG) one of the worlds leading financial groups. Across the globe were 120000 colleagues striving to make a difference for every client organization and community we serve. We stand for our values building long-term relationships serving society and fostering shared and sustainable growth for a better world.
With a vision to be the worlds most trusted financial group its part of our culture to put people first listen to new and diverse ideas and collaborate toward greater innovation speed and agility. This means investing in talent technologies and tools that empower you to own your career.
Join MUFG where being inspired is expected and making a meaningful impact is rewarded.
The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details.Job Summary:
The individual will be responsible for the 1st line of defense Third-Party Risk Management vendor insurance requirements and assessment. This includes providing recommendations for required insurance as well as a review to ensure vendor insurance meets the requirements in the contract. . They will work closely with senior members of the business line and provide both the current standing and potential impact of the vendors insurance requirements.. They will also monitor insurance coverage to ensure vendors remain in compliance with their contract.
Insurance assessment of vendors
Responsible for providing recommendations related to insurance requirements in vendor contracts
Collection and assessment of certificates of insurance to determine contractual compliance related to insurance coverage
Provide an opinion of the level of risk presented by the vendors insurance coverage. Ensure stakeholders understand the risk and impact of the vendors insurance coverage
Where certificates of insurance not available support the business in understanding the impact and determine suitable next steps
Active portfolio management of the vendor overall base
Responsible for monitoring certificates of insurance of the vendor base. The AVP will manage the monitoring of all vendors and take action when triggers are met
Providing reporting regarding the insurance requirements and coverage provided by the vendor base. Specific reports may include a view of; the overall vendor base a divisional look at vendors and a category specific look at vendors
Identify the potential changes to insurance requirements within vendor contracts and work with stakeholders to implement those changes.c
Staying current on changes and potential changes in the sector and regulatory developments is an important part of your job
Coordinate and communicate critical account information independently and directly to various related parties including the business line and TPMs.
Additional responsibilities will include presentations to senior executives discussions with internal auditors and external regulators.
Participate in and contribute to special assignments and projects as required.
Policy Compliance
Ensure compliance with external regulatory/internal policy and procedural requirements
Participate in ad-hoc policy meetings to enhance organization wide credit risk framework.
Qualifications:
3 years of work experience in insurance requirements and validation financial statements is required
In depth knowledge and capabilities in collection and reporting of data is critical.
Understanding of the issues related to the regulatory environment (FRB OCC FDIC).
Comfortable with Word Excel and PowerPoint
Strong written and verbal communications skills are critical.
Bachelors Degree or Masters in business or a related field.
The typical base pay range for this role is between $78K - $111K depending on job-related knowledge skills experience and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation. Additionally our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits retirement plans educational assistance and training programs income replacement for qualified employees with disabilities paid maternity and parental bonding leave and paid vacation sick days and holidays. For more information on our Total Rewards package please click the link below.
We will consider for employment all qualified applicants including those with criminal histories in a manner consistent with the requirements of applicable state and local laws (including (i) the San Francisco Fair Chance Ordinance (ii) the City of Los Angeles Fair Chance Initiative for Hiring Ordinance (iii) the Los Angeles County Fair Chance Ordinance and (iv) the California Fair Chance Act) to the extent that (a) an applicant is not subject to a statutory disqualification pursuant to Section 3(a)(39) of the Securities and Exchange Act of 1934 or Section 8a(2) or 8a(3) of the Commodity Exchange Act and (b) they do not conflict with the background screening requirements of the Financial Industry Regulatory Authority (FINRA) and the National Futures Association (NFA). The major responsibilities listed above are the material job duties of this role for which the Company reasonably believes that criminal history may have a direct adverse and negative relationship potentially resulting in the withdrawal of conditional offer of employment if any.The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.We are proud to be an Equal Opportunity Employer and committed to leveraging the diverse backgrounds perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate on the basis of race color national origin religion gender expression gender identity sex age ancestry marital status protected veteran and military status disability medical condition sexual orientation genetic information or any other status of an individual or that individuals associates or relatives that is protected under applicable federal state or local law.Required Experience:
Chief
Employment Type
Full-Time
