Third Party Risk Management Jobs in Delaware (NOW HIRING)

Description

The Vendor & Records Management Coordinator partners with business lines across the credit union to manage vendor relationships and contracts from onboarding through termination. The position supports day-to-day operational activities related to vendor oversight and monitoring, including administration of the third-party vendor management platform and ensuring all vendor documentation is complete, current, and accurate. Responsibilities also include supporting ongoing risk assessments, contract monitoring, and regulatory compliance efforts. This coordinator works closely with internal stakeholders, vendors, and the credit union's third-party vendor management provider to maintain a safe, sound, and compliant vendor management program aligned with NCUA guidance and internal policies.

In addition, the Vendor & Records Management Coordinator supports the credit union's enterprise record retention program by coordinating record retention practices, maintaining retention schedules within designated systems, and supporting consistent, compliant recordkeeping across departments in accordance with credit union policy and regulatory requirements.

Essential Functions

Vendor Management Platform Administration

• Administer and maintain the credit union's third-party vendor management system, ensuring vendor profiles are complete, accurate and current.
• Upload, organize, and track required vendor documentation, including but not limited to: Contracts and amendments, SOC 1 / SOC 2 reports, financial statements, insurance certificates, business continuity and disaster recovery plans, information security and cybersecurity documentation.
• Monitor document expiration dates and proactively follow up with vendors and internal stakeholders to obtain updated materials.

Ongoing Vendor Monitoring & Oversight

• Support periodic vendor risk assessments and annual reviews in accordance with vendor risk tiering.
• Assist with ongoing monitoring activities, including: Evaluating vendor's financial condition, reviewing complaint history from trusted sources (e.g., BBB, regulatory agencies, public sources), Tracking performance and service-level metrics, Identify and escalate missing, outdated, or high-risk findings to business owners and management in a timely manner.

Contract & Lifecycle Management

• Serve as a primary liaison with the credit union's third-party vendor management service provider for day-to-day operational matters.
• Assist in coordinating risk assessments, reporting, and issue remediation through the platform.
• Conduct system updates, enhancements, and periodic audits of vendor data accuracy.

Reporting & Documentation

• Prepare vendor management reports, dashboards, and summaries for management, internal audit, and examiners.
• Maintain well-organized documentation to support regulatory exams, audits, and Board reporting requirements.
• Document vendor management procedures, workflows, and internal controls

Policy & Regulatory Support

• Support adherence to the credit union's Vendor Management Policy and applicable regulatory guidance (NCUA, FFIEC, etc.)
• Identify gaps and opportunities to improve the vendor management program.
• Monitor emerging vendor risk trends, particularly in areas such as cybersecurity, data privacy, and operational resilience.

Record Retention & Document Governance

• Serve as the operational coordinator for the credit union's record retention program, supporting adherence to the Record Retention Policy and applicable regulatory requirements.
• Maintain and monitor record retention schedules within designated document management and vendor management systems.
• Coordinate with departments to ensure records are properly classified, retained, archived, and disposed of in accordance with approved retention schedules.
• Track retention and destruction timelines and support periodic reviews to confirm records are retained or disposed of appropriately.
• Maintain documentation evidencing record retention compliance for audits, exams, and legal inquiries.
• Support legal holds by coordinating with management, legal counsel, and affected departments to ensure suspension of record destruction when required.
• Provide training and guidance to staff on record retention expectations and proper document handling practices.
• Escalate record retention exceptions, gaps, or risk to management in a timely manner.

Note: This role is responsible for coordinating and administering record retention processes but does not independently determine legal retention requirements. Interpretation of regulatory or legal retention obligations remains the responsibility of management and legal counsel, as applicable.

Other Duties

• Coordinate process improvements with other departments to enhance efficiencies within the credit union. 
• Responsible for managing risks specific to related job functions with an expectation to make and support risk-informed decisions and remain diligent in identifying emerging risks that could jeopardize the success of the Credit Union.
• Any other duties as assigned.

Requirements

• Associate's or Bachelor's degree in Business, Finance, Risk Management, Information Systems or related field preferred.
• 2 - 3 years of experience in vendor management, risk management, compliance, operations, or a related function required.
• Experience in a credit union or financial institution is strongly preferred.
• Familiarity with third-party risk management platforms and concepts, record retention principles, document lifestyle management, and regulatory recordkeeping requirements in a financial institution preferred.
• Strong professional interpersonal and organizational skills, with the ability to effectively interact and collaborate with key business partners at all levels of the Credit Union.
• Demonstrated ability to manage multiple deadlines while maintaining strong attention to detail, including persistent and timely follow-up with vendors and internal business owners.
• Proficiency in Microsoft Office, including Excel, Word, and Outlook. 
• Independently set priorities to meet the needs of DFCU and achieve the needed results.

Physical Requirements 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle or feel, reach with hands and arms, and talk or hear. The employee is occasionally required to stand, walk, bend, kneel, and reach above or at shoulder level. The employee must occasionally lift/push/pull and/or carry up to 10 pounds.