Analyst - Third Party Risk Management - job 2 of 19

As an Analyst in Third Party Risk Management at Visa, your primary responsibilities include executing end-to-end third-party risk assessments across various business portfolios, collaborating with internal stakeholders, and reporting on supplier risk profiles. You’ll also engage in supporting change management initiatives and onboarding acquired entity suppliers to ensure compliance with regulatory expectations. This multifaceted role focuses on driving improvements in risk management practices while providing training and support to stakeholders.

To excel as an Analyst in the Third Party Risk Program at Visa, you'll need a blend of analytical skills, strategic thinking, and effective communication. Experience in third-party risk assessments is essential, along with strong problem-solving capabilities and leadership qualities. Effective project management and the ability to negotiate are also crucial to successfully manage the responsibilities of this role and foster productive relationships within the organization.

The Analyst, Third Party Risk Program at Visa plays a vital role in contributing to regulatory compliance by conducting thorough assessments and validating supplier arrangements. By ensuring that both internal and acquired entity stakeholders follow compliance standards, you’ll help maintain a consistent approach to risk management. Regular reporting of key risk metrics and actively supporting change initiatives further enhances Visa’s commitment to compliance in a fast-evolving regulatory landscape.

New Analysts in the Third Party Risk Management team at Visa undergo a comprehensive training process that focuses on the third-party risk assessment procedures and the regulatory compliance requirements. This training includes mentorship from experienced team members, hands-on experience with relevant tools and technologies, and the opportunity to participate in workshops aimed at improving their skills in risk management, communication, and change management strategies.

Visa's Third Party Risk Management team is known for its collaborative environment that emphasizes personal growth and professional development. Team members have the opportunity to drive meaningful changes and improve risk management practices while being supported by experienced colleagues. The hybrid work model fosters flexibility, and the culture encourages open communication, innovative thinking, and strong leadership, making it an exciting place to grow your career.

When responding to this question, provide specific examples of your previous roles where you conducted third-party risk assessments. Highlight the methodologies you used and any tools that facilitated your process. Discuss any challenges you faced in the assessments and how you overcame them to showcase your analytical skills and problem-solving abilities.

A strong response to this question would involve detailing your organizational strategies, such as using project management tools or prioritization frameworks. Explain how you assess urgency versus importance, and provide an example of a time when prioritizing effectively led to successful outcomes in risk assessments.

When answering this question, illustrate your process of initiating change, including how you communicated with stakeholders and achieved buy-in. Use a specific instance that showcases the impact of your change initiative, any training sessions you led, and the overall improvement in processes or compliance.

Your answer should outline a structured approach to risk mitigation. Discuss how you would analyze the risk, consult with stakeholders, escalate the issue if necessary, and recommend actions such as developing a risk management plan. Providing an example of a situation where you effectively addressed a high-risk situation would make your answer stronger.

Express your belief in the importance of clear and consistent communication. Discuss techniques you use, such as regular updates, using concise terminology, and tailoring your communication style to different audiences. Cite an example where effective communication with stakeholders significantly improved a project outcome.

Mention specific analytical tools (like risk management software or spreadsheet models) and techniques you’ve used in your previous roles. Emphasize your experience in data analysis, trend identification, and how these tools help in producing actionable insights and assessments.

Discuss your methods for staying updated on regulatory changes, such as subscribing to relevant industry newsletters, participating in professional associations, and attending conferences. Convey your understanding of the importance of compliance in risk management, and relate examples of how staying informed has positively impacted your work.

Describe your collaborative style and emphasize the importance of teamwork in effective risk management. Discuss how you facilitate collaboration, encourage knowledge sharing among team members, and involve different departments in the risk assessment process to enhance success.

Address the need for understanding and empathy when approaching resistance. Detail a situation where you faced resistance and how you addressed concerns through effective communication, training, or data-backed reasoning, ultimately gaining acceptance for improved risk management practices.

Share your passion for risk management and how it aligns with your career goals. Discuss aspects of the role that excite you, such as the challenge of analyzing complex supplier relationships or the opportunity to drive organizational improvements, illustrating your enthusiasm for contributing to the growth and stability of Visa.