The Bancorp Bank VP Third Party Risk Management in Wilmington, Delaware

Execute the Bancorp’s Third Party Risk Management program and manage a team of analysts to ensure the Bank’s third parties have the appropriate oversight, monitoring and reporting. This position will be responsible for ensuring third party performance is appropriately documented and reported.

  • Manage the third party risk performance monitoring team. Interview, hire, set high performance standards, and manage team performance in accordance with all applicable HR policies and procedures. Create a flexible and energized work environment, fostering an atmosphere that enables employee trust and engagement. Inspire confidence and motivate others to perform at their best. Develop and coach staff while effectively addressing performance issues.

  • Provide subject matter expertise on the performance monitoring framework and structure with a focus on performance monitoring requirements for third party partners and relationships. Collaborate with other functions, e.g. relationship managers, compliance and legal professionals (both internally and externally) to provide day to day guidance and management on risk issues across the organization.

  • Design, develop and continuously update internal standards, policies, and procedures to ensure current processes are consistently applied across all client and business unit groups and appropriately documented in accordance with internal and external audit standards.

  • Lead and manage process excellence and quality initiatives to continually raise the firm’s third party risk assessment function and standards to meet evolving regulatory, audit, risk and compliance rules and regulations.

  • Review assessment reports from each business function and coordinate assessments, findings, and recommendations with any appropriate internal risk governance committee(s) to mitigate risks and minimize losses for the company. May serve on or present findings to assigned risk committees.

  • Manage and respond to the highest level of escalated analytical and high risk business client-related issues. Answer questions and concerns as they arise, working directly with clients and internal relationship managers as needed to educate them, brainstorm solutions and recommend actions to improve risk profiles providing guidance and leadership as needed.

  • Build strong strategic relationships with third party clients and key internal business leaders to ensure compliance and risk issues are addressed quickly and efficiently. Assist in the development, review, and delivery of risk training to both internal and external clients addressing high risk third party vendor identification and monitoring to all business lines.

  • Maintain awareness of current and upcoming rules and regulations affecting third party risk management specifically governmental and regulatory developments from the FDIC, Federal Reserve, etc. Assess the impact of changes on current operations and recommend methods to improve the risk scores and incorporate new standards into the operation.

  • Present monthly, quarterly, annual and ad hoc management reports detailing risk assessment findings and areas of concern. Analyze historical trends and patterns and prepare recommendations to highlight and mitigate issues.

  • Develop close working partnerships with internal and external teams to discuss and manage performance monitoring of key business partnerships. Lead routine and ad hoc meetings to market, communicate, and discuss new and improved operations, processes, procedures, and standards being used in performance monitoring activities.

  • Perform other related duties as assigned.


  • An undergraduate degree in a related field.

  • A minimum of 5 - 7 years related third party risk management experience in the banking, insurance or credit card industry.

  • A minimum of 2 – 5 years leadership experience, preferably in an operational risk management or reporting capacity.

Other Qualifications:

  • Strong working knowledge of risk assessmentsand ongoing monitoring programs.

  • In-depth understanding of credit card, pre-paid, commercial credit and third party risk management

  • Expertise with risk rating elements

  • Ability to manage a team with multiple and/or shifting priorities and produce professional and accurate work product sometimes under time constraints

  • Excellent verbal, written, and interpersonal communication skills

  • A team player able to work effectively in a team fostered, multi-tasking environment

  • Proficient in Microsoft Office suite, e.g. Excel, PowerPoint, Word, Outlook

External Company Name: Bancorp Bank, The

External Company URL:

Street: 409 Silverside Road