Contracts Manager, Third Party Risk Management - R-100778-2554

at WSFS Bank in Wilmington, Delaware, United States

Job Description

Job Description

The Third Party Risk Management Contracts Manager will support the Director of Third Party Risk Management in the management, development, maintenance, and governance of the Bank's third-party risk management (TPRM) program. The incumbent will develop, recommend, and deploy policies, procedures and tools required to effectively manage and oversee vendor risk with the first and third lines of defense. The incumbent will also assist with the deployment of TPRM processes enabling adoption, compliance and training throughout the Bank while keeping abreast of regulatory changes and incorporating those changes into the TPRM Program. The Contracts Manager will assist in the vendor selection process, manage the scope of work, and assist in the due diligence process with the vendor and functional groups within the Bank (as applicable). The incumbent should understand the Requests for Proposal (RFP) process and promote clear interpretation and adherence to regulatory guidance set forth by the OCC, FRB, SEC and CFPB. The incumbent will negotiate contract terms with vendors based on business needs and legal guidelines, as well as assist business units in determining service level agreements (SLA). The incumbent will manage two direct reports (or more as business needs increase), review and sign NDA's, redline agreements, and execute agreements based of WSFS signing authority.

Job Responsibilities:

  • Review contracts submitted by business lines and determine contracts' criticality based off New Vendor Requests.
  • Keep business line informed where TPRM is in process with contractual reviews.
  • Engage internal with complex and high-risk vendor contract review and negotiations.
  • Facilitate review with outside counsel, if necessary, with acceptable terms.
  • Update Contract Playbook with required contractual language as needed.
  • Assist TPRM team as needed to ensure due diligence is complete on all contracts in scope.
  • Engage internal and external counsel with complex and critical vendors.
  • Review agreements, addendums, and statements of work redlining where necessary.
  • Weekly contractual pipeline, SLA, and NDA reporting.
  • Ensure all contracts enter into the system of record in a timely manner and updated as changes occur.
  • Complete contract checklist ensuring all field in TPRM system of record are accurate, as needed.
  • Monthly and quarterly quality control review of contractual agreements, confirming all required contractual language (if applicable) added, and contract checklist complete with sign off.
  • Work with TPRM Due Diligence Team to ensure due diligence is complete for each vendor, with proper sign off, on all contracts prior to execution.
  • Maintain awareness of contracts that are set to expire and manage the termination letter process with business lines.
  • Multitask assignments and prioritize contracts based on criticality.
  • Identify issues as they arise and work to closure, escalating to Direct of TPRM when appropriate.
  • Annual updates to TPRM Policy, Program and Procedures.
  • Responding to audit, regulator, and business line requests in a timely fashion.
  • Assist with Quarterly Management Risk Committee Report.
  • Monthly team meetings and one on ones with direct reports.
  • Other duties as assigned.

Minimum Qualifications:
  • Bachelor Degree in Business Administration, CIS, Finance, or equivalent combination of education and experience in vendor management, contract management, and/or other relevant experience.
  • 5-7 years of experience working with contracts required.
  • Third Party Risk certification or the desire to attain required.
  • Paralegal certificate preferred.
  • Must possess the ability to identify issues and work them to closure, escalating when appropriate.
  • Must be able to understand and apply federal banking guidelines and regulations.
  • Must have experience managing complex and dynamic enterprise vendor risk management functions.
  • Experience in negotiating complex and dynamic legal documents required.
  • Must have experience working across a diverse set of stakeholders with positive results.
  • Must possess the ability to work collaboratively with a broad range of constituencies.
  • Must have strong written and oral communication skills.
  • Basic understanding of major business principles, processes, and technologies.
  • Ability to present effectively to end users and managers in all forms of communication.
  • Ability to analyze and streamline processes.
  • Must possess the ability to identify issues and work them to closure, escalating when appropriate.

WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at

WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.
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Job Posting: 1241262

Posted On: Feb 19, 2024

Updated On: Mar 19, 2024

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