Analyst - Third Party Risk Management - job 16 of 19

As an Analyst in Third Party Risk Management at Visa, your core responsibilities include executing end-to-end third-party risk assessments across various business portfolios, collaborating with internal stakeholders, and reporting key supplier risk metrics to senior leadership. You’ll also drive organizational change initiatives to enhance risk management practices and ensure compliance with necessary regulations.

To qualify for the Analyst position in Third Party Risk Management at Visa, candidates typically need experience in third-party risk assessment, strong analytical skills, and effective communication abilities. A background in project management and strategic thinking is also beneficial to succeed in this role, along with the ability to lead change initiatives.

Visa supports change management for the Analyst in Third Party Risk Management role by driving initiatives aimed at improving risk management practices. Analysts are expected to develop change strategies and provide training to stakeholders, facilitating the successful adoption of new processes and technologies within the team.

Essential skills for success as an Analyst in Third Party Risk Management at Visa include strong analytical and problem-solving abilities, effective communication and negotiation skills, along with strategic thinking. Leadership and team management skills are also critical, as well as a solid understanding of project management principles.

A typical workday for an Analyst in Third Party Risk Management at Visa might involve conducting risk assessments, collaborating with various stakeholders to ensure compliance, and reporting metrics. The role also includes participating in change management discussions and providing training to team members, making for a dynamic day with a blend of analytical work and teamwork.

When answering this question, candidates should highlight their specific experiences in conducting risk assessments, discussing the methodologies they’ve used, and how their assessments have impacted decision-making in past roles.

Candidates should demonstrate their problem-solving skills by outlining a step-by-step approach to manage compliance breaches. This might include assessing the extent of the non-compliance, collaborating with the supplier to address the issues, and implementing corrective actions.

In response, candidates should discuss recognized change management frameworks or methodologies they’ve employed, such as ADKAR or Kotter’s 8-Step Process, and detail how they’ve successfully applied these in previous roles.

Candidates should narrate a specific example that illustrates their leadership capabilities, focusing on the team dynamics, the strategies implemented, and the measurable outcomes achieved.

Responses should involve discussing any specific tools, software applications, or platforms the candidate is familiar with, and how they leverage these in the context of risk management tasks.

Candidates should illustrate their communication strategy for reporting key risk metrics, emphasizing clarity, data visualization, and the importance of aligning the message with the audience's priorities.

In answering, candidates should detail their approach to risk prioritization, perhaps discussing frameworks like qualitative vs quantitative assessments, or risk matrices that help in determining the level of attention required.

Here, candidates can reflect on current industry trends, regulatory changes, or technological advancements that pose challenges, demonstrating their awareness of the broader risk management landscape.

Candidates should discuss their strategies for fostering collaboration, which may include facilitating workshops, regular touchpoints, and clear communication channels to ensure stakeholder engagement and buy-in.

To respond effectively, candidates should outline a specific compliance initiative, the steps taken to implement it, and the impact it had on the organization, showcasing their initiative and drive.