Director of Operational Risk Management & Third-Party Risk, Flex
$270-297k
+ Equity
3+ days a week in office (Union Square, NY)
Flexible rent payment application
Be an early applicant
Flexible rent payment application
501-1000 employees
Be an early applicant
$270-297k
+ Equity
3+ days a week in office (Union Square, NY)
501-1000 employees
Company mission
Flex's mission is to empower as many renters as possible with flexibility over their most significant recurring expense.
Role
Who you are
- 7–10+ years of experience in risk management, with demonstrated expertise in both operational risk and third-party risk
- Proven track record building and leading risk programs in regulated, high-growth, or technology-forward environments
- Deep familiarity with relevant regulatory frameworks (OCC, NIST, FFIEC, etc.) and industry best practices for ORM and TPRM
- Experienced in working cross-functionally and driving accountability across Legal, Finance, Security, and business teams
- Effective communicator, able to synthesize complex issues and influence at all levels of the organization
- Background in consulting or enterprise risk transformation is a strong plus
What the job involves
- Flex is seeking a seasoned and strategic Director of Operational Risk Management & Third-Party Risk to lead the development of our Operational Risk Management (ORM) framework and oversee our end-to-end Third-Party Risk Management (TPRM) program
- This high-impact role is essential to strengthening our enterprise risk posture and ensuring our operational and external risk exposures are managed with transparency, rigor, and control
- You’ll report directly to the Chief Compliance Officer and work cross-functionally with leaders in Legal, Security, Finance, and Product
- This is a foundational leadership role for someone ready to build scalable programs, enhance enterprise resilience, and shape Flex’s long-term readiness
- Design and implement Flex’s enterprise ORM framework and operating structure
- Lead the ORM working group and drive programmatic cadences such as risk assessments, remediation planning, and quarterly reviews
- Manage core operational risk activities, including:
- Process Mapping
- Risk and Control Self-Assessments (RCSAs)
- Key Risk Indicators (KRIs)
- Incident and issue management
- Deliver actionable reporting to senior leadership
- Align ORM with regulatory frameworks and industry standards (e.g., OCC, FFIEC, NIST)
- Serve as the central coordination point for operational risk governance across business lines
- Own the full third-party risk lifecycle, from onboarding through termination, across a diverse vendor ecosystem that includes property management companies, property management software, payment providers, software platforms, BaaS partners, and contractors
- Maintain and evolve the vendor inventory, tiering methodology, and due diligence standards
- Partner cross-functionally with Legal, Security, Finance, CMS, and business stakeholders to ensure vendor engagements meet enterprise risk and regulatory standards
- Conduct and review third-party assessments (e.g., SOC reports, control frameworks) and escalate risks when necessary
- Manage residual risk ratings and design scalable ongoing monitoring practices
- Report on vendor risks and mitigation strategies to senior leadership
Our take
Many people struggle to pay their rent every month, with a variety of bills hitting their bank accounts simultaneously. Whilst many of these people earn enough money to cover their bills, the inflexible nature of monthly bills can make the all-in-one payment a harder obstacle.
Flex provides a mobile application for the flexible payment of rent, allowing users to pay their landlords through flexible payment plans, reschedule payments when necessary, and protect their funds through Overdraft Protection. The company achieves this by partnering with estate agents and paying their resident's bills upfront, taking on the challenges that landlords would normally have due to late payments.
Flex has experienced extremely rapid growth since its founding which has caused some issues, as it struggled to keep up with the surge in new customers. Having made improvements to its product and scaled its customer service team, it is set to continue providing a service that has come to be highly valued by both tenants and landlords.
Freddie
Company Specialist at Welcome to the Jungle
Insights
10% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Feb 2022
$160m
SERIES C
Apr 2021
$46.6m
SERIES B
Total funding: $225.1m
Company benefits
- 100% company-paid medical, dental, and vision
- 401(k) + company stock options
- Unlimited paid time off + company paid holidays
- Parental leave + IVF and adoption support
- Flex Cares Program: Non-profit company match + pet adoption coverage
- Pet Insurance
- Free Flex subscription
Company HQ
Midtown Manhattan, New York, NY
Leadership
Shragie Lichtenstein
(CEO)Experience working in venture capital investments for Point72 and TVC. Also co-founded Boundless Reality.
YeTong Shao
(CPO)Experience as Data Science Researcher. Also co-founded Boundless Reality.
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