Analyst - Third Party Risk Management - job 8 of 19

As an Analyst in Third Party Risk Management at Visa, you will be responsible for conducting comprehensive third-party risk assessments across various business portfolios. Your duties include collaborating with internal stakeholders to guide them through the assessment process, reporting on supplier risk profiles to leadership, and managing the onboarding of suppliers from acquired entities. You will also support change management initiatives to enhance risk management practices and ensure regulatory compliance.

Candidates for the Analyst position in Third Party Risk Management at Visa should have experience in third-party risk assessment, alongside strong strategic thinking, problem-solving abilities, and excellent communication skills. Leadership and team management skills are essential, as well as proficiency in project management. A keen analytical mindset is crucial to succeed in this role.

The Analyst in Third Party Risk Management plays a vital role in ensuring Visa maintains strict regulatory compliance by validating supplier arrangements and conducting thorough risk assessments. They regularly report key risk metrics to senior leadership and collaborate with various stakeholders to uphold compliance standards, particularly concerning acquired entities and their specific regulatory requirements.

Working in Visa’s Third Party Risk Management team offers an engaging and collaborative environment. As a hybrid position, you can expect a combination of remote and in-office work, allowing for flexibility. The atmosphere is dynamic, with a focus on continuous improvement, stakeholder engagement, and effective risk management practices. You will be part of a team that values innovation and strategic thinking.

The career growth potential for an Analyst in Third Party Risk Management at Visa is promising. Given the critical nature of this role in managing risk and compliance, individuals can advance to senior analyst positions or managerial roles within the risk management framework. The continuous learning opportunities, coupled with increased responsibilities, pave the way for professional development and career progression.

In answering this question, focus on specific instances where you have conducted third-party risk assessments. Discuss the methods you used, the outcomes you achieved, and how you collaborated with stakeholders. Highlight any tools or frameworks you are familiar with in assessing risks.

A good answer would outline your approach to prioritization based on urgency and impact. Discuss techniques such as setting deadlines, using checklists, or employing project management tools to stay organized and ensure timely execution of assessments.

Emphasize your communication skills, including active listening and clarity in messaging. Discuss how you adapt your communication style to different audiences and use regular updates and meetings to keep stakeholders informed and engaged throughout the risk assessment process.

Provide a specific example detailing the challenge, your approach to resolving it, and the successful outcome. Reflect on the lessons learned and how this experience ultimately enhanced your understanding of risk management.

In your response, include methods you use such as attending relevant training sessions, participating in industry webinars, following regulatory news, or subscribing to relevant publications. Highlight your commitment to continuous learning and staying informed.

Discuss the critical importance of change management in ensuring that implemented strategies for third-party risk management are successful. Explain how change management helps secure stakeholder buy-in and facilitates the smooth adoption of new practices within the organization.

Share specific tools or software you have used for data analysis and how you applied them to evaluate risk metrics. Discuss an outcome that was influenced by your data analysis, demonstrating the value you've brought to your previous roles.

Articulate your understanding of regulatory compliance's significance in the risk management framework. Discuss your strategies, experiences in maintaining compliance, and how you ensure that suppliers meet all necessary standards.

Explain your training methodology, including how you assess the stakeholders' current understanding and tailor the training accordingly. Mention any resources or materials you utilize and how you encourage feedback and questions during the training sessions.

In your response, express your passion for risk management and how Visa's emphasis on innovation, security, and compliance aligns with your professional values. Highlight your enthusiasm for contributing to a reputable organization and your eagerness to face the challenges and opportunities that the role presents.