Senior Director, Third Party Risk & Vendor Management

Marqeta is reimagining its Third-Party Risk Management (TPRM) Program by building new approaches to initial and ongoing due diligence and oversight of its Programs (focusing first on our customers). This is a unique opportunity to uplevel and scale a successful TPRM framework. As a leader of the TPRM Program, Marqeta’s Senior Director, Third Party Risk & Vendor Management will lead a team of professionals in designing an innovative TPRM framework that will measure risks associated with hundreds of programs that Marqeta manages in the US and abroad. You and your team will own the ongoing risk management of our Programs and be an exceptional strategic partner with your stakeholders. You’ll work closely with a supportive, close-knit team of compliance and risk professionals, and you’ll report on your progress, innovations, and data analysis to executive leadership. 

In this role, you will also be responsible for evolving our vendor management system into one that maximizes value from our vendor relationships and manages our third party vendor risk. We are looking for someone who is highly motivated to help us build new systems, processes and improve efficiency.  This role will have the opportunity to shape how the company handles strategic sourcing and third party risk management going forward in our continued growth. The Senior Director, Third Party Risk & Vendor Management will work closely with our business, legal, and finance team to lead centralized direct and indirect sourcing and procurement efforts. Specifically, you and your team will be responsible for process creation, strategic sourcing and vendor identification, contract negotiation (with support from legal), ongoing monitoring and relationship management.  

The ideal candidate will be someone who is enthusiastic, flexible, detail-oriented, a strategic thinker, passionate about creative problem solving, is exceptional at working cross-functionally, and thrives in a fast-paced, dynamic environment with many challenges and opportunities.

We work Flexible First. This role can be performed remotely anywhere within the United States. We’d love for you to join us!

The Impact You’ll Have

Third Party Risk Management 

• Architect and implement enhancements to our standardized and scalable TPRM framework necessary to identify, assess, mitigate, and monitor the risks relating to the Programs Marqeta serves
• Serve as subject matter expert for TPRM with key stakeholders throughout Marqeta and our Programs, and communicate TPRM guidelines effectively
• Collaborate and facilitate meetings with internal stakeholders, such as Legal, Compliance, Account Management, Go-to-Market, and control groups, to drive alignment and consistency in TPRM practices
• Build and own operational workstreams with internal and external cross-functional teams to implement and/or complete objectives, such as the collection and review of initial and ongoing due diligence documentation requested by Marqeta
• Develop expertise in key material risks affecting Marqeta, our Programs, and partner Banks
• Continuously monitor, analyze, and report on third-party risks and resiliency across all Marqeta Programs
• Prepare periodic reports for management and board-level committees, as well as Marqeta’s Programs and bank partners
• Contribute to other strategic initiatives that intersect with TRPM, such as risk assessments, change management, process automation (e.g., API integrations with MQ tools), and more
• Constantly evolve Marqeta’s TPRM framework, considering both business opportunities, industry trends, and current regulatory environment

Vendor Management 

• Lead strategic sourcing team responsible for purchasing and contracting activities, including contract negotiation, administration, amendment and cancellation, including coordinating activities with the legal, compliance, security, and finance teams, as appropriate. 
• Develop and refine Marqeta’s strategic sourcing and vendor management vision, processes, and tools.
• Establish performance metrics to evaluate vendor performance, address any areas of concern, and promptly escalate critical issues to senior management.
• Continuously drive opportunities to optimize vendor management processes without compromising quality, risk management or service levels.
• Identify and assess potential risks associated with vendor relationships and implement risk mitigation strategies and contingency plans.
• Serve as the escalation point of contact for vendor communications, negotiations, and conflict resolution. Coordinate with internal teams to provide support and guidance on vendor-related matters, and oversee the resolution of any issues.
• Coordinate stakeholder engagement through effective execution of team talents & strategies. Reinforce the sense of purpose across stakeholders and actively engage in ongoing conversations to connect individual and team purposes across functions.
• Maintain strong working relationships with strategic suppliers to assure cost, quality, and delivery targets are met
• Facilitate monitoring of vendor compliance with industry regulations and company policies

Who You Are

• 12+ years in third party risk management (specifically in the financial services sector), strategic sourcing and vendor management 
• Experience with FRS, FDIC, and OCC Interagency Guidance on Risk Management concerning Third-Party Relationships
• Proven experience and knowledge in procurement, risk management and contract negotiation. 
• Experience building a vendor management program
• Passion for using technology to improve processes, reporting, and oversight
• Strong bias toward action and initiative
• Excellent interpersonal skills and communication skills  in order to influence and guide decisions across multiple cross functional teams.
• Proven project management skills with analytical and problem solving abilities to identify business drivers and develop and implement strategies.
• Experience managing a team 

Typical Process

• Application submission
• Recruiter phone call
• Hiring manager video call
• Virtual “Onsite” consisting of 4-5, 30-45 min calls
• Offer!

Compensation and Benefits

Marqeta is a Flex First company which allows you to choose your best working environment, whether that be from home or at a company office. To support Flex First, we calibrate pay to a competitive value according to working location. Compensation is aligned according to three tiers within the United States:

• National: A baseline tier that applies to most of the geographic territory of the United States.
• Premium: Slightly elevated from the National tier, and oriented toward a narrower set of higher cost-of-living areas, such as Los Angeles CA and Seattle WA
• Premium Plus: A tier for the most expensive working areas, like the San Francisco Bay area and New York City.

Visit this page or consult with a Recruiter to determine which tier would be applicable to you.

When determining salaries, we consider several factors including, but not limited to, skills, prior experience, and work location. The new-hire base salary range for this position is:

• National: $191,900 - $239,900
• Premium: $207,700 - $259,600
• Premium Plus: $225,800 - $282,200

We also believe in recognizing the contributions of our people. That's why we award annual bonuses to eligible employees, rewarding both individual performance and the success of the entire company.

Along with monetary compensation, Marqeta offers

• Multiple health insurance options
• Flexible time off – take what you need
• Retirement savings program with company contribution
• Equity in a publicly-traded company and an Employee Stock Purchase Program
• Family-forming benefits, fertility support, and up to 20 weeks of Parental Leave
• Free therapy sessions, financial and professional coaching, and legal advice
• Monthly stipend to support our remote work model
• Annual “development dollars” to support our people growth and development