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Director Third Party Risk Management information

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$54K

$143.2K

$260K

How much do director third party risk management jobs pay per year?

As of Jun 21, 2026, the average yearly pay for director third party risk management in the United States is $143,185.00, according to ZipRecruiter salary data. Most workers in this role earn between $105,500.00 and $167,500.00 per year, depending on experience, location, and employer.

What are some of the key challenges a Director of Third Party Risk Management faces when implementing risk assessment frameworks across a large organization?

One of the main challenges is ensuring consistency and thoroughness in risk assessments across diverse business units and geographies, each with varying levels of vendor complexity and regulatory requirements. Directors often need to balance rigorous risk controls with the need for operational efficiency, which requires strong communication and influence skills to gain stakeholder buy-in. Additionally, keeping up with evolving third-party risks, such as cybersecurity threats and supply chain disruptions, demands continuous process improvement and cross-functional collaboration with IT, legal, and procurement teams.

What does a Director of Third Party Risk Management do?

A Director of Third Party Risk Management is responsible for overseeing an organization's approach to identifying, assessing, and mitigating risks associated with its external partners, vendors, and suppliers. This role involves developing risk assessment frameworks, ensuring compliance with relevant regulations, and collaborating with internal teams to address any third-party issues that may affect the business. The director also leads the creation and execution of policies and procedures to manage third-party risks effectively, balancing operational needs with regulatory requirements.

What is the difference between Director Third Party Risk Management vs Vendor Risk Manager?

AspectDirector Third Party Risk ManagementVendor Risk Manager
CredentialsTypically requires advanced degrees and certifications like CTPRP or CRISCOften requires certifications such as CTPRP, CRISC, or vendor-specific training
Work EnvironmentStrategic leadership, overseeing multiple teams and enterprise-wide risk policiesOperational focus, managing vendor assessments and risk mitigation activities
Industry UsageUsed in large organizations across finance, healthcare, and technology sectorsCommon in organizations with extensive vendor networks, especially in finance and IT

The main difference is that the Director Third Party Risk Management holds a strategic, leadership role overseeing enterprise-wide third-party risks, while the Vendor Risk Manager focuses on operational vendor assessments and risk mitigation. Both roles require similar certifications but differ in scope and level of responsibility.

What are the key skills and qualifications needed to thrive as a Director of Third Party Risk Management, and why are they important?

To thrive as a Director of Third Party Risk Management, you typically need expertise in risk assessment, compliance, vendor management, and a relevant degree in business, finance, or a related field. Familiarity with risk management frameworks, regulatory requirements, and tools like GRC (Governance, Risk, and Compliance) platforms or vendor risk assessment software is essential. Exceptional leadership, strategic thinking, and negotiation skills help manage cross-functional teams and build strong relationships with vendors. These competencies are crucial to effectively mitigate third-party risks, ensure regulatory compliance, and protect the organization’s reputation and operations.
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Director Third Party Risk Management jobs near you
Infographic showing various Director Third Party Risk Management job openings in the United States as of June 2026, with employment types broken down into 1% Internship, 4% As Needed, 79% Full Time, 12% Part Time, 3% Temporary, and 1% Contract. Highlights an 89% Physical, 4% Hybrid, and 7% Remote job distribution, with an average salary of $143,185 per year, or $68.8 per hour.
Director, Third Party Risk Management

Director, Third Party Risk Management

T Rowe Price

Baltimore, MD • On-site

Other

Posted 12 days ago

T. Rowe Price rating

9.1

Company rating: 9.1 out of 10

Based on 21 frontline employees who took The Breakroom Quiz

Job description

Role Summary

TheDirector- ThirdParty Risk Management is aSecond Line of Defense (2LoD)leadership role responsible for thestrategic development, oversight, and ongoing maturation of the firm'sThirdPartyRisk Management (TPRM) program. Reporting to the Head of Privacy & TPRM, this role is regarded as asubject matter expert in third-party riskand plays a key role in shaping the firm's risk strategy, governance framework, and operating model following the implementation of anoutsourced TPRMcapability.

TheDirectorprovides independent oversight, crediblechallenge, and assurance over first-line and outsourced TPRM activities, while building a sustainable, regulator-ready 2LoD function aligned with the firm's risk appetite and regulatory expectations.

Responsibilities

TPRM Strategy & Program Leadership:

  • Serve as the firm'ssubject matter experton third-party risk management.

  • Contribute to the development and execution of the firm'sTPRM strategy, roadmap, and target-state operating model.

  • Lead the build-out and continuous improvement of a 2LoD TPRM functionfollowing outsourcing of due diligence and periodic reviews.

  • Define and maintain TPRM policies, standards, risk methodologies, and oversight frameworks aligned with regulatory expectations and industry best practices.

  • Ensure alignment of the TPRM program with enterprise risk appetite and governance structures.

  • Lead assessment of emergingthird partyrisks and technologies, including AI, andintegratefindings into TPRM strategy, governance, and executive reporting.

Oversight of Outsourced & First-Line TPRM Activities:

  • Provide independent oversight and effectivechallengeofoutsourced TPRM service providers, including due diligence execution and ongoing monitoring.

  • Oversight of monitoring activities related toSLAs, KPIs, quality assurance standards, and performance metrics for outsourced partners.

  • Report onsystemic control gaps, concentration risk, and emerging third-party risk themes across the vendor population.

  • Escalatematerialthird-party risk issues and control deficiencies throughappropriate governanceand risk committees.

Risk Governance, Reporting & Regulatory Readiness:

  • Design and deliver executive and board-level reporting on third-party risk, including trends, emerging risks, and risk appetite breaches.

  • Lead TPRM-related regulatory exams, internal audits, and management assurance activities.

  • Ensure TPRM documentation, evidence, and reporting areaudit-and exam-ready.

  • Partner with Enterprise Risk, Compliance, Legal, Information Security, Procurement, and Technology while maintaining 2LoD independence.

Leadership & Capability Development:

  • Provide leadership, guidance, and technical mentorship to TPRM risk analysts and managers.

  • Establish clear roles, responsibilities, and RACI alignment across 1LoD, 2LoD, and outsourced providers.

  • Drive adoption of data-driven, AI-enabled reporting and analytics to enhance risk insight and oversight efficiency.

  • Promote a strong risk culture and consistent application of third-party risk standards across the firm.

Qualifications

Required:

  • Bachelor's degree in Risk Management, Information Systems, Finance, Business, Law, ora relatedfield.10+ years of experience inthird-party risk management, operational risk, or compliance, withsignificant experiencein a2LoD capacitywithin financial services or asset management(or other industry subject to equivalent regulatory scrutiny).

  • Demonstrated experiencedesigning, implementing, or maturing a TPRM program, including oversight of outsourced or co-sourced models.

  • Deep understanding of regulatory expectations for third-party risk (e.g., SEC, FINRA, global regulators).

  • Proven ability tooperateas a trusted expert and strategic advisor to senior leadership.

  • Required Certifications (at least one): Certified Third Party Risk Professional (CTPRP), Certified in Risk and Information Systems Control (CRISC), Certified Information Systems Auditor (CISA)

Preferred:

  • Advanced degree (MBA, JD, or equivalent).

  • Experience supporting global or complex vendor ecosystems.

  • Additionalcertifications:

  • ISO 27001 Lead Implementer or Auditor

  • PMP or equivalent program management certification

  • ExperienceleveragingAI, automation, or advanced analytics in TPRM oversight(e.g., Microsoft Co-Pilot, ChatGPT Enterprise).

Tools & Technology (Preferred)

  • Extensive experience with TPRM and GRC platforms (e.g., ServiceNow, Coupa).

  • Strong executive-level reporting and data visualization skills (e.g., Power BI).

  • Experience implementing metrics, KRIs, and dashboards aligned to risk appetite.

Key Competencies

  • Recognizedexpertisein third-party risk management.

  • Strategic mindset with hands-on oversight capability.

  • Strong executive presence and ability to provide crediblechallenge.

  • Excellent written and verbal communication skills.

  • Ability to lead through influence in a matrixed, regulated environment.

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

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