Job Description

WHO ARE WE: Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

CORE VALUES: Passion for Excellence :: Success is Never Final :: Do the Right Thing :: One Alerus

ABOUT THE ROLE:

The Third‑Party Risk Analyst is responsible for assessing, monitoring, and managing risks associated with the organization’s third‑party service providers across the full vendor lifecycle. Ensures compliance with regulatory expectations (e.g., OCC 2023-17, Third Party Relationships: Interagency Guidance on Risk Management) and supports the bank’s broader Enterprise Risk Management program by performing due diligence, risk assessments, contract reviews, and ongoing monitoring of critical and high‑risk vendors. Reports to the Director of Enterprise Risk Management with significant internal collaborative relationships with management of various business units.

WHAT YOU’LL BE DOING:

• Manage the risk assessment, onboarding, periodic review, and offboarding of third parties and vendors to the organization (i.e. Third-Party Lifecycle management).
• Coordinate with Legal and Compliance departments for appropriate contract review processes.
• Manage and maintain both internal users and external third parties and vendors in the vendor management system.
• Compile and report relevant vendor risk information and data to the Board monthly.
• Contribute to New Product Risk Assessments with ERM management.
• Maintain and enhance the use of the company’s Third Party/Vendor management system and functionality.
• Coordinate with applicable management for SOC reporting, external audit and regulatory reviews, and internal audit and compliance reviews.
• Assist with ERM committee and other meeting prep.

WHAT YOU SHOULD HAVE:

• Bachelor’s Degree in Business, Finance, Accounting, Management/Risk Management, Information Systems, or a related field.
• 1-2 years of experience in third‑party risk management, vendor management, operational risk, or related risk/control discipline within financial services.
• Experience working with regulatory guidelines (e.g. OCC 2023-17, Interagency Guidance) and industry risk frameworks.
• Experience with vendor management applications or software (e.g. Venminder) is desired.
• Advanced level skills with Microsoft Office suite (specifically Excel, Powerpoint, and Sharepoint).
• Strong attention to detail and accuracy.
• Strong organizational, problem solving and analytical skills.
• Collaborative but also able to work independently.

WHAT WE BRING TO THE TABLE:

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

WORK ENVIRONMENT:

Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds.

BASE PAY RANGE:

$65,000 - $80,000 per year

The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.

Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.