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Director, Third Party Risk Management



Posted on Tuesday, January 30, 2024

Octane® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases - like powersports vehicles, RVs, and OPE - fast, easy, and accessible.

Octane adds value throughout the customer journey: inspiring enthusiasts with our editorial brands, including Cycle World® and UTV Driver®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.

Founded in 2014, we’re a remote-first company with 550+ employees and over 30 OEM and 4,000 dealer partners.

The Senior Manager, Third Party Risk Management will be accountable for the development and oversight of the end-to-end Third-Party Risk Management program at Octane, covering both external suppliers and inter-affiliate service providers. This role will contribute to the Company's capability to understand, control and articulate the nature and level of third-party risk taken. Responsible for driving our objective of ensuring that third-party risk management is a competitive advantage and providing an independent view of aggregate third-party risk faced by the Company. Ensures regulatory and program compliance and oversees and monitors the third-party risk management process.

This visible role will be accountable for all aspects of the third-party risk management program and will influence and collaborate with business and risk oversight leaders (credit, market, liquidity, strategic, operational, compliance and legal risk), and other necessary stakeholders to drive necessary action and will communicate findings to executive management.

The Senior Manager, Third Party Risk Management will report to the Vice President of Risk Governance and assist our Third Party Management program as follows:


  • Establish and implement a risk assessment framework for third-party relationships, identifying and prioritizing potential risks based on their impact to business operations
  • Develop and monitor effectiveness of third party control framework that applies appropriate controls based on the nature of the third party service
  • Act as key Relationship holder for High Risk/Critical vendors of Octane to ensure proper oversight of the relationship
  • Negotiate appropriate coverage for Master Contracts, SLA’s, SOW’s and Pricing exhibits to minimize Octane exposure in contracts and third party risk exposures
  • Identify, inventory and oversee critical processes performed by third parties and ensure proper controls are in place for risk mitigation and management
  • Develop KRI’s for third party performance and monitoring where appropriate
  • Evaluate the design of controls owned by TPRM to identify control gaps, support design of control enhancements and track actions to resolution
  • Support evaluation of implementation of Third Party related controls defined by other risk owners (cyber, processing, compliance, etc.)
  • Contribute to the strategic decisions by providing in-depth and sophisticated analyses to define problems and develop innovative solutions
  • Develop subject matter expertise and act as subject matter expert (SME) to senior stakeholders and /or other team members
  • Support all initiatives for the TPRM Change Management
  • Collaborate with internal stakeholders of key vendors including IT, Product, Operations and Risk
  • Oversee the application of Third Party Risk Management (TPRM) Policy and Standards, technology and tools, and governance processes to create lasting solutions for minimizing losses
  • Analyze various scorecards/performance management tools to identify areas of risk
  • Communicate with Senior Managers, Business Stakeholders, multiple lines of Defense, business process owners, and functional areas to build and maintain strong partnerships
  • Assist with TPRM Governance oversight, as well as change management of Policy and Enterprise-Wide Operating Procedures
  • Drive change and challenge existing processes for improvement
  • Develop a deep understanding of Octane’s existing vendor relationships and dependencies, including identifying critical and non-critical vendors
  • Provide support to business continuity planning efforts as they relate to third-party relationships
  • Stay current on relevant laws and regulations affecting the finance industry; collaborate with legal and compliance teams to ensure the company's activities align with regulatory requirements
  • Implement ongoing monitoring mechanisms to track changes in operational risks, regularly reviewing and updating risk assessments. Collaborate with stakeholders to recommend and implement continuous improvement initiatives aimed at enhancing operational resilience


  • Bachelor’s Degree followed by 7+ years of professional experience in Third Party Risk Management or internal audit or related
  • Demonstrated ability to design, implement, and manage a third-party risk oversight program, including experience in conducting vendor due diligence, ongoing vendor monitoring, and contract negotiation
  • In-depth understanding of relevant laws, regulations, and industry standards governing third-party relationships in the finance sector
  • Demonstrated ability to build strong relationships across the organization and possess excellent interpersonal and communication skills
  • Strong leadership skills with the ability to influence, motivate and lead others within a fast-paced environment
  • Industry experience within Consumer Finance, FinTech, Financial Services, or similar industries is preferred
  • Excellent written and verbal communication skills, along with superior analytical, critical thinking and problem-solving abilities
  • Advanced Excel and PowerPoint Skills


  • Robust Health Care Plans (Medical, Dental & Vision)
  • Generous Parental Leave
  • Up to 5 weeks time off (self-managed)
  • Retirement Plan (401k) with company match!
  • Educational Assistance/Tuition Reimbursement up to $3K/year
  • Life Insurance (Basic, Voluntary & AD&D)
  • Short Term / Long Term Disability
  • Robust Ancillary benefits including accident insurance, hospital insurance, etc
  • Gympass Wellness Benefit
  • Powersports Safety Benefit

Disclaimer: The above statements are intended to describe the general nature and level of work being performed by associates assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

Octane Lending is an equal opportunity employer committed to providing equal employment opportunity without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or any other protected status with respect to recruitment, hiring, promotion and other terms and conditions of employment.