JOB SUMMARY:
CFSB is a leading fintech-focused bank committed to maintaining the highest standards of corporate governance and ethics. We are dedicated to ensuring the integrity and reliability of our supply chain and third-party relationships. To achieve this, we are seeking a highly motivated and detail-oriented individual to join our team as a Senior Associate, Third Party Governance
The Senior Associate, Third Party Governance will play a critical role in ensuring the effective oversight and governance of issuing and settlement program managers within the bank's sponsorship portfolio. This role is essential for maintaining the integrity of the bank’s relationships with fintech partners, ensuring compliance with regulatory standards, and mitigating operational and financial risks. The ideal candidate will possess a solid understanding of banking, payments, and financial regulations, as well as experience in risk management, compliance, or audit within a financial institution.
Responsibilities:
- Assist in the implementation of governance frameworks for the oversight of issuing and settlement program managers.
- Monitor and govern key risk indicators (KRIs) to ensure program managers meet agreed-upon standards of the bank port-folio and ensure accurate and comprehensive reporting.
- Regularly review the program managers’ adherence to the bank's governance policies, regulatory requirements, and ser-vice level agreements (SLAs).
- Collaborate with internal stakeholders (compliance, IT/Ops, finance, fraud, legal) to ensure effective governance of all sponsored programs.
- Participate in identifying, assessing, and mitigating risks associated with sponsorship Bank programs, including operation-al, financial, regulatory, legal and reputational risks.
- Assist in conducting regular risk assessments and audits of program managers to identify gaps and areas for improve-ment.
- Monitor and report on the effectiveness of risk controls implemented by program managers.
- Support VP, Governance & Oversight with the creation of Third-Party Oversight committee and Board of Director reports.
- Work closely with the compliance team to monitor program managers’ adherence to anti-money laundering (AML) and know-your-customer (KYC) requirements, federal and state banking regulations.
- Oversee the day-to-day operations of program managers to ensure alignment with the bank’s standards and industry best practices.
- Support ongoing reviews of program managers..
- Collaborate with the operations team to address issues that may impact the delivery of services by program managers.
- Ensure timely and effective resolution of escalated issues related to program oversight.
- Act as a liaison between the bank and its program managers, ensuring effective communication and collaboration.
- Develop strong working relationships with key stakeholders at program managers, ensuring a deep understanding of their operations and objectives.
- Assist in the onboarding of new program managers, ensuring they are fully integrated into the bank’s governance frame-work that controls to mitigate compliance, IT/Ops, finance, fraud, and legal risks are established or actively being implemented.
Knowledge, Skills, and Abilities:
- Bachelor’s degree in Business, Finance, Risk Management, Law, or related field. Master’s degree or professional certifica-tion (e.g., CRCM, CAMS) is a plus.
- Familiarity with financial services industry risks and regulations.
- Ability to present complex analysis with clarity.
- Proficient in Microsoft Office Suite (Word, Excel, PowerPoint) or related software.
- Capability to work independently and collaboratively in a team environment.
- Excellent verbal and written communication skills.
- Strong interpersonal skills.
- Strong understanding of banking regulations, especially those related to payment processing, issuing, and settlement (e.g., BSA/AML, OFAC, Reg E).
- Knowledge of risk management principles and frameworks, particularly in fintech partnerships and program management.
- Excellent analytical skills, with the ability to assess complex processes and identify potential risks or areas for improvement.
- Strong communication and relationship-building skills, with the ability to collaborate effectively with internal and external stakeholders.
- Detail-oriented, with a strong focus on accuracy, compliance, and continuous improvement.
- Ability to work independently and prioritize multiple tasks in a fast-paced environment.
Education, Training, and Experience:
- Minimum 4-6 years of experience in governance, risk management, compliance, or audit within the financial services in-dustry, preferably in banking, fintech, or payments.
- Experience with issuing and settlement processes and knowledge of sponsorship banking models is highly desirable.
About Community Federal Savings Bank (CFSB)
Community Federal Savings Bank (CFSB) is a federally chartered bank founded in 2001 and headquartered in New York City. CFSB has focused on providing superior service and added value to clients though a solid understanding of relationship banking. We offer a full range of services, including loans, bill payments, card services, internet banking, and merchant processing.
We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, military and/or veteran status, or any other Federal or State legally-protected classes.
Third Party Risk - Sr. Analyst