Analyst - Third Party Risk Management - job 12 of 19

As the Analyst - Third Party Risk Management at Visa, your primary responsibilities revolve around conducting comprehensive third-party risk assessments, collaborating with stakeholders, and ensuring compliance with regulatory expectations. You'll evaluate supplier risk profiles, report key metrics to leadership, and support onboarding initiatives for acquired entities. Your role will actively involve driving change management practices to optimize risk assessment strategies.

To be considered for the Analyst position in Third Party Risk Management at Visa, you should have a background in risk assessment, strategic thinking, and project management. Strong analytical skills, effective communication abilities, and experience in team management are crucial for success. While a degree in a relevant field is beneficial, experience in third-party risk management will make your application stand out.

The Analyst - Third Party Risk Management role at Visa plays a crucial role in ensuring that the organization's compliance initiatives are met effectively. By conducting thorough risk assessments and supporting change management practices, the analyst helps maintain regulatory compliance standards across various supplier arrangements, thus safeguarding Visa’s reputation and operational integrity.

Success as an Analyst - Third Party Risk Management at Visa hinges on several key skills including analytical thinking, strategic problem-solving, effective communication, and negotiation prowess. Proficiency in project management and the ability to lead teams through change initiatives are also essential. These skills ensure the analyst can efficiently navigate the complexities of third-party risks and foster collaboration within the organization.

At Visa, the work culture fosters collaboration, inclusivity, and innovation. As an Analyst in the Third Party Risk Management team, you can expect a supportive environment where your contributions are valued. The hybrid work model allows for flexibility, while the strong emphasis on continuous improvement encourages you to bring forward new ideas and practices that enhance risk management strategies.

When discussing methodologies for third-party risk assessments, emphasize your familiarity with various frameworks like NIST, ISO, or specific industry standards. Highlight your experience with conducting comprehensive reviews and how you leverage tools and analytics to evaluate risk effectively.

In prioritizing tasks, it's important to assess the risk profile of each supplier and their relevance to the organization's goals. Discuss your approach in evaluating risk levels, deadlines, and stakeholder needs, illustrating how you manage time efficiently while ensuring thorough assessments.

When answering this question, pick a specific example where you spearheaded a change initiative. Describe the challenge, your approach to managing stakeholder concerns, and the strategies you implemented to ensure successful adoption, highlighting the positive outcome achieved.

Effective communication is key in the risk assessment process. Explain how you establish regular check-ins, utilize clear reporting, and clarify expectations with all stakeholders involved. Demonstrating your ability to facilitate open dialogue fosters transparency and trust.

Choose an anecdote where you identified a high-risk supplier and explain your analysis process. Discuss the actions you took, such as informing the necessary parties, suggesting risk mitigation strategies, and how the situation was resolved, demonstrating your proactive approach.

Highlight the specific tools you are proficient in, such as risk management software, data analytics tools, or compliance management systems. Discuss how these technologies enhance your ability to conduct thorough assessments and streamline reporting for stakeholders.

Discuss the metrics and KPIs you utilize to measure the effectiveness of risk management strategies. Explain how you analyze data and feedback to continuously improve processes, fostering a culture of ongoing enhancement.

Emphasize the importance of team collaboration in your approach to risk assessments. Discuss how you leverage diverse perspectives, share insights, and work closely with different departments to ensure a robust assessment process.

Provide an example of a situation with a non-compliant supplier and explain the steps you took. Focus on your approach to resolving the issue, including communication with the supplier, necessary adjustments in processes, and collaboration with stakeholders to rectify the compliance gaps.

To stay current with changing regulations, discuss strategies you employ such as regular training, participation in industry workshops, and engaging with compliance resources. Stress the importance of continual learning to adapt the risk management strategies accordingly.