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Third Party Risk Analyst (Flexible Hybrid) - job 1 of 2

As a valued colleague on our team, you will assist the team with identifying and assessing potential risks that may threaten our reputation, safety, security, and/or financial success, as well as participate with the team in communicating and collaborating with key stakeholders across the enterprise, and understanding business objectives.THE IMPACT YOU WILL MAKEThe Third Party Risk Analyst role will offer you the flexibility to make each day your own, while working alongside people who care so that you can deliver on the following responsibilities:• Assist team with determining suppliers that pose potential risks to the enterprise.• Review and analyze the impact of inherent third-party risks to the enterprise and third-party controls.• Document control guidelines and methods to mitigate risk and resolutions.• Maintain processes to comply with regulatory and enterprise requirements.• Advise stakeholders on third party risk management• Partner with the team to carry out business strategies that will drive success in the face of shifting priorities, risk, and regulations.THE EXPERIENCE YOU BRING TO THE TEAMMinimum Required Experiences• Strong project management skills; ability to manage multiple projects effectively, strong time management and prioritization skills.• Strong written and oral communication skills, attention to detail and interpersonal skills.• Experience gathering accurate information to explain concepts and answer questions.• Influencing skills; can negotiate, persuade others to accomplish tasks, facilitate meetings, and resolve conflict.• Excellent presentation skills up to Officer level; able to present information and/or ideas to an audience in a way that is engaging and easy to understand.• Proven relationship management skills including engaging and managing stakeholders, internal customers, vendors, etc.• Ability to work with people with different functional expertise respectfully and cooperatively towards a common goal.• Ability to understand complex business process and risk issues.Desired Experiences• Bachelor’s degree or equivalent• Experience with third party risk or operational risk management frameworks strongly preferred.• Experience in third party risk assessment, supplier management, or operational risk role.• Risk management or audit experience including designing or evaluating controls, conducting risk assessments, identifying control gaps, remediating risk, advising, documentation, etc.• Experience with statistical/data analysis and reporting; can analyze data to identify trends or relationships to inform conclusions about the data, skilled in creating visual concepts for graphical representation of data.• Prior experience helping an organization plan and manage change efforts to meet strategic objectives.• Risk certification.Skills• The group of skills related to Risk Assessment and Risk Management including identifying risk, evaluating control design and effectiveness, identifying control gaps, remediating risk, etc.• Adept at managing project pipeline, time, people, and priorities to ensure successful project completion• Experience gathering accurate information to explain concepts and answer questions• The group of skills related to Relationship Management including managing and engaging stakeholders, customers, and vendors, building and leveraging relationship networks, working with people that have different functional expertise respectfully and cooperatively towards a common goal, etc.• The group of skills related to Influencing including negotiating, persuading others, facilitating meetings, and resolving conflict• Skilled in oral and written communication• Skilled in documentation and database reporting with the use of relevant software such as a risk platform, Tableau, or Excel for the purposes of data discovery and analysis to identify trends or relationships to inform conclusions and decision-making• Skilled in creating visual concepts, creating content, and editing content by hand or with the help with computer software to communicate ideas• Skilled in presenting information and/or ideas to an audience up to Officer level in a way that is engaging and easy to understand• The group of skills related to Business Insight including advising, interpreting customer needs and preferences, resource capabilities, etc.• The group of skills related to Governance and Compliance including creating policies, evaluating compliance, conducting internal investigations, developing data governance, etc.• Experience helping an organization to plan and manage change in effort to meet strategic objectivesTools• Experience using ProcessUnity or risk platforms• Skilled in Excel• Skilled in Visio• Experience using SharePoint• Experience using Source-to-pay or Procure-to-pay technology (e.g., Ivalua/ProcureOne)The future is what you make it to be. Discover compelling opportunities at Fanniemae.com/careersFannie Mae is a flexible hybrid company. We embrace flexibility for our employees to work where they choose, while also providing office space for in-person work if desired. At times, business need may call for on-site collaboration, which means proximity within a reasonable commute to your designated office location is preferred unless job is noted as open to remote.Fannie Mae is an Equal Opportunity Employer, which means we are committed to fostering a diverse and inclusive workplace. All qualified applicants will receive consideration for employment without regard to race, religion, national origin, gender, gender identity, sexual orientation, personal appearance, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request an accommodation in the application process, email us at careers_mailbox@fanniemae.comThe hiring range for this role is set forth on each of our job postings located on Fannie Mae's Career Site. Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications. This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program). As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee’s physical, mental, emotional, and financial well-being. See more here.
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What You Should Know About Third Party Risk Analyst (Flexible Hybrid), Fannie Mae

As a Third Party Risk Analyst at Fannie Mae in Plano, TX, you'll be pivotal in safeguarding our organization’s reputation and financial stability. In this flexible hybrid role, you’ll dive into the exciting world of third-party risk management, collaborating with diverse teams and key stakeholders to assess potential risks that could impact our business objectives. Your day-to-day will involve analyzing the inherent risks presented by suppliers, documenting control guidelines, and advising stakeholders on effective risk management strategies. You will also maintain compliance with regulatory requirements, ensuring our processes are top-notch while participating in engaging discussions that shape our business strategies. This position empowers you to take charge of your time and priorities, enabling you to work effectively on multiple projects. It’s an opportunity for you to leverage your exceptional communication and analytical skills to influence decisions and coordinate with various professionals as you collectively navigate the complexities of risk management. At Fannie Mae, we believe that a harmonious work environment encourages innovation and efficiency. Whether you’re crafting compelling presentations for senior leadership or collaborating with team members to drive initiatives forward, your contributions will directly impact our success. Join us and play a key role in fostering a culture of safety and assurance as we embrace flexibility and forward-thinking in our approach to third-party risk assessment!

Frequently Asked Questions (FAQs) for Third Party Risk Analyst (Flexible Hybrid) Role at Fannie Mae
What responsibilities does a Third Party Risk Analyst at Fannie Mae have?

As a Third Party Risk Analyst at Fannie Mae, your primary responsibilities include identifying potential risks posed by suppliers, analyzing the impact of these risks on the enterprise, documenting guidelines to mitigate them, and advising stakeholders on proper risk management practices. You'll also be involved in compliance processes and collaborating with various teams to navigate regulatory requirements.

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What qualifications are needed for a Third Party Risk Analyst position at Fannie Mae?

To be considered for the Third Party Risk Analyst role at Fannie Mae, you should have strong project management skills, effective communication abilities, and experience in risk management or assessments. A bachelor’s degree and relevant experience in third-party risk or operational risk management frameworks are typically preferred. Skills in data analysis and relationship management also enhance your application.

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How does the flexible hybrid work model in Fannie Mae’s Third Party Risk Analyst position benefit employees?

The flexible hybrid work model at Fannie Mae allows Third Party Risk Analysts to balance their professional and personal lives by choosing where they work, whether remotely or in the office. This not only promotes a healthier work-life balance but also facilitates collaboration and team engagement when necessary, fostering a supportive and productive work environment.

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What tools and software are crucial for a Third Party Risk Analyst at Fannie Mae?

As a Third Party Risk Analyst at Fannie Mae, you'll work with various tools and software, including ProcessUnity for risk assessment, advanced skills in Excel for data analysis, Visio for process mapping, and SharePoint for documentation and collaboration. Familiarity with Source-to-Pay or Procure-to-Pay technologies like Ivalua or ProcureOne is also beneficial.

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What type of career growth can a Third Party Risk Analyst expect at Fannie Mae?

A career as a Third Party Risk Analyst at Fannie Mae opens pathways for growth within the organization. Employees can advance their careers by gaining expertise in risk management, obtaining relevant certifications, and taking on additional responsibilities that lead to higher roles in compliance or risk management functions, thus enhancing their professional development.

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Common Interview Questions for Third Party Risk Analyst (Flexible Hybrid)
Can you describe your experience with third-party risk assessment?

In your response, detail any specific methodologies or frameworks you have used in previous roles. Highlight your understanding of risk evaluation and how you've successfully identified and mitigated risks in past experiences.

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What steps do you take to ensure compliance with regulatory requirements?

Explain how you stay updated on current regulations relevant to third-party risk management and describe practical steps you implement to maintain compliance, including audits, documentations, and stakeholder advisories.

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How do you prioritize projects as a Third Party Risk Analyst?

Discuss your strategy for prioritizing project demands based on urgency and impact. Talk about any tools or frameworks you use to track projects and your methods for communicating priorities with stakeholders.

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Describe a time when you had to negotiate with stakeholders to resolve a conflict.

Share a specific example that illustrates your negotiation skills. Explain the conflict, your approach to resolution, and how your actions aligned all parties on the path forward.

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What analytical techniques do you employ to assess risk data?

Detail the analytical tools and techniques you have experience with, such as statistical analysis or data visualization methods. Explain how these methodologies help you derive meaningful conclusions from risk data.

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How do you build relationships with vendors and internal stakeholders?

Illustrate your interpersonal skills by discussing past experiences where effective communication and trust-building enabled collaboration with key stakeholders, leading to successful risk management outcomes.

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What role does attention to detail play in your work as a Third Party Risk Analyst?

Explain how attention to detail is crucial in identifying risks, ensuring compliance, and maintaining accurate documentation. Provide examples of situations where your diligence helped avoid potential issues.

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How do you stay informed about trends and changes in risk management?

Share the resources, networks, and professional development strategies you use to stay informed about the evolving risk management landscape, such as industry publications, webinars, and professional groups.

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Why do you believe effective communication is important in risk management?

Discuss the significance of clear and concise communication in conveying risk factors to stakeholders. Provide examples of how effective communication has positively impacted project outcomes in your experience.

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What is your understanding of operational risk management frameworks?

Provide a brief overview of the operational risk management frameworks you are familiar with, mentioning their key components and how they apply specifically to third-party risk management.

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Fannie Mae’s mission is to facilitate equitable and sustainable access to homeownership and quality, affordable rental housing across America.

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Full-time, hybrid
DATE POSTED
December 8, 2024

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