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Third Party Risk information

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How much do third party risk jobs pay per hour?

As of Jul 31, 2026, the average hourly pay for third party risk in Philadelphia, PA is $30.61, according to ZipRecruiter salary data. Most workers in this role earn between $19.66 and $39.04 per hour, depending on experience, location, and employer.

What are some common challenges faced in a Third Party Risk role and how can they be managed?

Professionals in Third Party Risk often encounter challenges such as managing a large and diverse vendor portfolio, staying updated on regulatory requirements, and ensuring timely risk assessments. Navigating communication gaps between internal stakeholders and external vendors can also be demanding. These challenges are typically managed by implementing robust risk assessment frameworks, fostering cross-functional collaboration, and leveraging technology to streamline due diligence and monitoring processes. Continuous training and clear communication protocols further help in addressing these complexities and maintaining effective third-party risk management.

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

AspectThird Party RiskVendor Risk Management
FocusAssessing risks from all external entities, including vendors, partners, and contractorsEvaluating risks specifically associated with third-party vendors
CredentialsRisk management certifications, compliance knowledgeVendor management certifications, procurement experience
Work EnvironmentCorporate risk teams, compliance departmentsProcurement, vendor management teams
Industry UsageFinancial, healthcare, technology sectorsPrimarily in supply chain and procurement functions

Third Party Risk encompasses a broader scope, including all external entities, while Vendor Risk Management specifically focuses on vendors. Both roles require risk assessment skills and industry knowledge, but Third Party Risk roles often involve broader compliance and strategic oversight.

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

To thrive as a Third Party Risk professional, you need a solid understanding of risk management principles, vendor assessment processes, and relevant regulatory frameworks, often supported by a degree in business, finance, or a related field. Familiarity with risk assessment tools, GRC (governance, risk, and compliance) software, and certifications such as Certified Third Party Risk Professional (CTPRP) are common requirements. Strong analytical thinking, attention to detail, and effective communication skills help you evaluate vendors and influence stakeholders. These skills are vital for identifying, mitigating, and managing risks associated with third-party relationships to protect organizational integrity and compliance.

What is Third Party Risk?

Third Party Risk refers to the potential risks and vulnerabilities an organization faces when working with external vendors, suppliers, or service providers. These risks can include data breaches, compliance violations, operational disruptions, and reputational damage resulting from the actions or failures of third parties. Managing third party risk involves identifying, assessing, monitoring, and mitigating these risks to protect the organization’s interests and ensure regulatory compliance.
What are the most commonly searched types of Third Party Risk jobs in Philadelphia, PA? The most popular types of Third Party Risk jobs in Philadelphia, PA are:
What are popular job titles related to Third Party Risk jobs in Philadelphia, PA? For Third Party Risk jobs in Philadelphia, PA, the most frequently searched job titles are:
What job categories do people searching Third Party Risk jobs in Philadelphia, PA look for? The top searched job categories for Third Party Risk jobs in Philadelphia, PA are:
What cities near Philadelphia, PA are hiring for Third Party Risk jobs? Cities near Philadelphia, PA with the most Third Party Risk job openings:
Third Party Risk jobs near you
Infographic showing various Third Party Risk job openings in Philadelphia, PA as of July 2026, with employment types broken down into 1% As Needed, 81% Full Time, 15% Part Time, and 3% Contract. Highlights an 92% Physical, 3% Hybrid, and 5% Remote job distribution, with an average salary of $63,673 per year, or $30.6 per hour.

AVP, Third-Party Risk Management

Cardworks

Wilmington, DE

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 4 hours ago

CardWorks rating

9.1

Company rating: 9.1 out of 10

Based on 8 frontline employees who took The Breakroom Quiz

1st of 21 rated payment service providers

Job description

Join our team and build your career with momentum as we champion your growth, elevate your ideas and engage you in purpose-driven work that makes a real difference every day.


Who we are

Founded in 1997, Merrick Bank is an FDIC-insured financial institution headquartered in South Jordan, Utah, with over $10 billion in assets. A wholly owned subsidiary of CardWorks Financial Group, Merrick Bank serves roughly five million cardmembers and more than 100,000 merchant customers nationwide.


What we do

We provide credit cards, recreational loans, deposit accounts, merchant services and bank sponsorships to consumers and businesses. As a leader in non-prime lending and merchant acquiring, we combine innovative technology with data-driven insights to help underserved consumers build and strengthen credit while delivering integrated, scalable payment solutions for businesses.

Merrick Bank ranks among the top 20 FDIC-insured credit card issuers in the U.S. and among the top 15 merchant acquirers by transaction volume.


The Assistant Vice President, Third-Party Risk Management ("TPRM") is responsible for leading key components of the execution, oversight, and strategic enhancement of Merrick Bank's ("Bank") Third-Party Risk Management Program. This role partners across the first and second lines of defense to ensure risks arising from third-party relationships are effectively identified, assessed, monitored, and reported in alignment with regulatory requirements, internal policies, and the Bank's risk appetite.


The AVP serves as a senior program leader responsible for advancing enterprise TPRM strategy, strengthening risk governance, driving consistent risk practices, and delivering actionable insights to senior management and risk governance committees.

Essential Functions:

  • Lead the execution and ongoing enhancement of the Bank's Third-Party Risk Management framework, ensuring alignment with regulatory expectations and internal governance standards.
  • Oversee risk-based third-party due diligence, risk assessments, and ongoing monitoring activities across the full third-party lifecycle, ensuring consistent, defensible, and risk-informed outcomes.
  • Partner with business units, Vendor Relationship Owners, and Subject Matter Experts to identify, assess, and mitigate risks associated with third-party relationships.
  • Provide senior level review and challenge of third-party risk assessments, ensuring conclusions are evidence-based, appropriately documented, and escalated when risk exposure exceeds defined thresholds.
  • Monitor third-party performance, control effectiveness, and risk indicators, escalating issues, control gaps, and emerging risks in accordance with established governance protocols.
  • Lead the design, development, and maintenance of TPRM policies, procedures, standards, and workflows to support a consistent enterprise-wide operating model.
  • Define and Deliver executive, committee, and Board-level reporting that provides clear visibility into third-party risk exposure, trends, issues, concentrations, and emerging risks.
  • Collaborate with Legal, Procurement, Information Security, Compliance, and business stakeholders to ensure appropriate contract provisions, controls, and risk mitigation strategies are implemented.
  • Lead TPRM responses for regulatory exams, internal audits, and independent reviews, including documentation, analysis, issue remediation, and management responses.
  • Drive the TPRM program maturity roadmap, including process improvements, automation, data quality, GRC optimization, regulatory alignment, and adoption of industry best practices.
  • Leads, develops, and mentors TPRM teams, promoting strong risk culture, accountability, high performance, and continuous improvement.
  • Partner with ERM leadership to establish TPRM priorities, roadmap initiatives, governance routines, and success measures aligned to enterprise risk strategy and business objectives.
  • Identify and escalate third-party concentration risk, critical vendor risk, fourth-party risk, control gaps, and emerging risk themes to appropriate governance forums.
  • Delivers executive, committee, and Board level risk reporting, including dashboards and risk insights that support informed decision making and effective oversight.
  • Owns continuous improvement of TPRM tools, data, workflows, reporting, and GRC system capabilities to improve efficiency, transparency, data integrity, and regulatory readiness.
  • Performs other duties as assigned.

Requirements for Success:

Education & Experience:

  • Bachelor's degree in Risk Management, Finance, Business Administration, Accounting, or a related field required; advanced degree or professional certification, such as CTPRP, CTPRA, CRVPM, CRMA, FRM, CPA, OR CIA preferred.
  • Minimum of 8 years of progressive experience in Third-Party Risk Management, Enterprise Risk Management, Operational Risk, or a related risk discipline within a financial services or regulated environment, including experience leading program initiatives, risk governance routines, and team members

Knowledge, Skills and Capabilities:

  • Strong expertise in enterprise risk reporting, including development of executive and Board level materials, risk dashboards, metrics, and written risk summaries.
  • In-depth knowledge of third-party risk regulatory requirements and industry standards, including full TPRM lifecycle.
  • Demonstrated experience aggregating and synthesizing complex risk information into clear, concise, and decision useful reporting for senior management and Boards.
  • Solid understanding of ERM frameworks, risk governance practices, and regulatory expectations applicable to banking and financial services organizations.
  • Proven ability to work cross functionally, influence stakeholders, and partner effectively with both first and second line teams.
  • Excellent written and verbal communication skills, with a strong attention to detail and the ability to translate technical risk concepts into business focused insights.
  • Experience with ERM systems and risk data repositories (e.g., risk assessment tools, issue management systems, reporting platforms) strongly preferred.

Compliance with Laws & Regulations

  • Responsible for complying with all the Bank's internal control policies and procedures.
  • Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
  • Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.

#INDHP1


Why join us

We believe in putting people first by supporting our customers, employees and our partners while creating opportunities for everyone to reach their potential. From fostering work-life balance to rewarding good work and innovative ideas, we invest in what matters most, our people.

At Merrick Bank, you'll be part of a collaborative, customer-focused team where you can grow your career while making a meaningful impact.


Our Employee Value Proposition

  • Competitive Pay, including a Bonus Target or Variable Pay Incentive Program
  • Benefits Package -Medical, Dental, and Vision (plus much more)
  • 401(k) Plan with Company Match
  • Short- & Long-Term Disability
  • Wellness Programs
  • Group Life and AD&D Insurance
  • Paid Vacation, Sick Days and bank Holidays
  • Employee Engagement Activities including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, Service Recognition

We offer a total rewards package comprised of a competitive base rate of pay, variable pay incentive programs based on the role, and a comprehensive benefit suite. Offered rates of pay are determined based on job-related knowledge, relevant experience, skills, certifications, and geographic location.


We are proud to be an equal opportunity employer. All qualified applicants will receive consideration without regard to age, race, color, sex, or gender identity/expression (including pregnancy, childbirth, transgender status, or sexual orientation), religion or creed, ancestry, citizenship, national origin, disability, military or veteran status, marital status, genetic information, or any other characteristic protected by applicable law.

We do not tolerate discrimination, harassment, or retaliation. Employment decisions are based solely on qualifications, merit, and business needs. Everyone is welcome here, and we hire based on your ability to do the job, not any protected characteristics.

If you need help or reasonable accommodation during the application or hiring process, please let your TA Partner know.

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