Analyst - Third Party Risk Management - job 14 of 19

The Analyst in Third Party Risk Management at Visa is primarily responsible for conducting comprehensive third-party risk assessments, collaborating with internal stakeholders, and providing regular reports on supplier risk profiles. Additionally, this role involves driving change management initiatives and assisting with the onboarding of suppliers for acquired entities to maintain regulatory compliance.

To excel as an Analyst in Third Party Risk Management at Visa, candidates should demonstrate strong analytical skills, strategic thinking, problem-solving abilities, and effective communication. Additionally, leadership and team management capabilities, along with experience in project management, are essential for success in this role.

Visa ensures compliance in Third Party Risk Management by conducting thorough assessments, developing change management strategies, and providing training to stakeholders. The Analyst will play a key role in validating supplier arrangements to meet both program and regulatory compliance expectations.

The Analyst in Third Party Risk Management at Visa works in a hybrid environment, which combines in-office work with remote responsibilities. This flexible work setup allows for effective collaboration and communication with stakeholders while maintaining a balanced work-life dynamic.

Candidates applying for the Analyst position in Third Party Risk Management at Visa typically have a degree in a relevant field such as Business Administration, Risk Management, or Finance. Experience in third-party risk assessment and compliance is also highly valued.

In discussing my experience with third-party risk assessments, I would highlight specific projects where I have successfully executed end-to-end assessments, detailing the methods I used to evaluate supplier profiles and the outcomes achieved.

When prioritizing assessments, I focus on the urgency and potential risk levels of each supplier. I also utilize project management tools to organize tasks effectively, ensuring timely completion without compromising on quality.

For effective change management, I implement a structured approach that includes stakeholder involvement, clear communication of process changes, and training sessions to facilitate smooth transitions and successfully embrace new practices.

In a previous role, I faced a challenge with a high-risk supplier. I addressed it by conducting a thorough assessment, engaging in negotiations to mitigate risks, and developing a detailed action plan that secured compliance without compromising the business relationship.

I stay updated with regulatory changes by subscribing to industry newsletters, attending relevant webinars, and participating in professional networks, ensuring that I’m informed about best practices and compliance requirements.

Communication is crucial in my role as an analyst. I ensure that I maintain clear and open lines of communication with stakeholders, presenting assessment findings and recommendations in an easily understandable manner to foster collaboration.

I analyze supplier risk profiles by utilizing quantitative and qualitative methods, assessing factors such as financial stability, operational capabilities, and compliance history to form a comprehensive risk profile.

Change management is vital as it ensures that both processes and technologies are adopted effectively across the organization. By actively managing changes, we can enhance risk management practices, minimize disruptions, and improve overall compliance.

I frequently utilize project management tools such as Asana or Trello to track my workload, prioritize tasks, and collaborate with team members, enabling us to meet our objectives efficiently.

In managing disagreements, I prioritize open dialogue, affirming the importance of understanding stakeholder perspectives. I present data-driven justifications for my assessments and invite collaboration to reach a consensus that ensures both compliance and business objectives are met.