Third Party Risk Management, Analyst

As a Third Party Risk Management Analyst at BitGo, you will be responsible for optimizing our Third-Party Risk Management and Procurement Program. This includes serving as the lead contact for vendors, enhancing due diligence processes, monitoring vendor performance, and working cross-functionally with departments such as Compliance and Legal Operations to ensure vendor compliance with laws and regulations.

The ideal candidate for the Third Party Risk Management Analyst role at BitGo should have at least 2 years of relevant experience in Third Party Risk Management or Procurement. It's essential to possess knowledge of risk management frameworks and information security standards, along with strong problem-solving and analytical skills. Additionally, a college degree in business, public policy, or a technical field is required.

The Third Party Risk Management Analyst plays a crucial role in safeguarding BitGo's integrity and operational efficiency. By managing vendor risks proactively, you ensure that our partners meet necessary compliance standards, which ultimately supports our mission to provide secure and reliable digital asset solutions to institutional clients worldwide.

A successful Third Party Risk Management Analyst at BitGo should have strong attention to detail, excellent communication skills, and the ability to work independently. Familiarity with GRC systems, risk management frameworks, and a good understanding of blockchain technology are also crucial to excel in this position.

As a Third Party Risk Management Analyst at BitGo, you can expect a dynamic and collaborative work environment in our Sioux Falls office. We foster a culture of innovation and inclusivity where team members are encouraged to contribute ideas and solutions, all while enjoying a strong support system from colleagues and management.

When answering this question, focus on your interest in digital assets and the importance of risk management in maintaining the integrity of institutions like BitGo. Mention your passion for blockchain technology and your desire to contribute to a company that is leading innovations in the industry.

Be sure to highlight specific examples from your past roles where you took proactive steps to monitor or improve vendor performance. Discuss metrics you've used and how you communicated with vendors to ensure compliance and resolve issues.

Discuss the importance of tailoring due diligence forms to suit the specific needs of BitGo, ensuring they cover essential regulatory requirements and risk assessment criteria. Mention how collaboration with various departments will guide the necessary questions.

You should mention frameworks like COSO, ISO 31000, and any others relevant to your experience. Explain how you've applied these frameworks in previous roles to address risks effectively.

Share a specific scenario where you successfully broke down complex risk management concepts for stakeholders. Highlight the techniques you used to ensure the audience understood the significance of the information.

Discuss strategies like categorization based on risk levels and setting clear deadlines. Explain how you ensure quality and attention to detail while managing several tasks simultaneously.

Talk about the resources you rely on, such as regulatory bodies, industry news, or networking with other professionals. Mention any membership in relevant organizations or attending seminars and training sessions.

Outline a step-by-step approach, starting with communicating your concerns to the vendor, working towards understanding the issues, and collaborating on a corrective action plan. Emphasize the importance of relationship management and maintaining professionalism.

Explain the significance of data analysis in identifying potential risks, monitoring vendor performance, and predicting future trends. Give examples of how you've used analytics tools in previous roles to enhance risk assessment.

Discuss how integrity and compliance form the foundation of trust within vendor relationships and contribute to the overall health of the organization. Highlight how these values align with BitGo's mission of security and quality.