Risk Management Coordinator

Socket.dev; Laurel (MD); On-site; USD 40,000 - 49,000; Full time

Benefits offered by this job

Medical benefits

401(k) with company match

Company-paid life insurance

Job summary

Socket.dev is seeking a risk management professional to lead vendor due diligence, perform risk assessments, and drive improvements in governance and controls. The role collaborates with Information Security, IT, Compliance, Finance, and Internal Audit to align with regulatory expectations and industry best practices.

Responsibilities include monitoring vendor performance, maintaining risk inventories, and producing dashboards and reports.

Qualifications

• Associates degree in Business Administration, Finance, Risk Management, IT, or related field (or equivalent work experience).
• Two to four years of relevant experience in vendor management, contract administration, compliance, risk management, insurance administration, audit, or related function.
• Knowledge of third-party risk management, enterprise risk management, contract management, and corporate insurance processes.
• Experience with risk management, governance, risk and compliance (GRC), contract management, or vendor management software preferred.
• General knowledge of regulatory requirements including NCUA, FFIEC, GLBA, and third-party risk management expectations.
• Professional certifications preferred, e.g., CRVPM, NCRM, or similar.
• Or an equivalent combination of education and experience

Responsibilities

• Evaluate vendor due diligence documentation and identify material risks and control deficiencies.
• Perform vendor risk assessments and ongoing monitoring per program requirements.
• Review and track due diligence docs in risk management databases and coordinate with vendors and internal stakeholders.
• Analyze trends in vendor performance and risk indicators to identify emerging risks and corrective actions.
• Prepare reports, dashboards, and scorecards related to vendor management and risk activities.
• Coordinate and manage vendor onboarding activities and assess risk ratings.
• Review contractual provisions for risk considerations and coordinate resolution with business owners.
• Analyze insurance claims, coverage, and renewal information to identify exposures and improvements.

Skills

Vendor risk management

GRC knowledge

Contract management

Regulatory knowledge

SOC reports

Data analysis

Microsoft Office

Communication skills

Collaborative work

Education

Associate degree or equivalent experience

Tools

GRC software

Vendor management software

Job description

Principal Accountabilities and Functions

• Evaluates vendor due diligence documentation, identifies material risks and control deficiencies, assesses overall risk exposure, and develops recommendations for risk mitigation and escalation.
• Performs vendor risk assessments, residual risk assessments, and ongoing monitoring activities in accordance with established program requirements.
• Requests, reviews, uploads, categorizes, and tracks vendor due diligence documentation within the risk management database; follows up with vendors and internal stakeholders to obtain required information.
• Analyzes trends in vendor performance, cybersecurity ratings, financial condition, audit results, and other risk indicators to identify emerging risks and recommend corrective actions.
• Evaluates data quality, identifies reporting discrepancies, and recommends enhancements to improve data integrity, reporting accuracy, and workflow efficiency.
• Prepares and distributes recurring reports, dashboards, metrics, and scorecards related to vendor management, enterprise risk management, contract management, and corporate insurance activities.
• Coordinates and independently manages assigned vendor onboarding activities, evaluates risk assessment results, resolves outstanding issues with business units, and recommends appropriate risk ratings.
• Reviews contractual provisions for risk considerations, identifies unusual terms or potential concerns, and coordinates resolution with business owners and stakeholders.
• Analyzes insurance claims, policy coverage, loss trends, and renewal information to identify exposures and recommend improvements to coverage or reporting practices.
• Collaborates with internal stakeholders including Information Security, IT, Compliance, Finance, Business Continuity, Facilities, and Internal Audit to support risk management initiatives and ensure program alignment with regulatory expectations and industry best practices.
• Assists with enterprise risk management activities, including gathering information, preparing risk assessments, maintaining risk inventories, and supporting risk reporting.
• Researches regulatory guidance, industry trends, and emerging risks and communicates relevant information to management.
• Facilitates cooperation with regulatory examinations, internal audits, and third-party audits by gathering documentation, responding to requests, and tracking remediation activities.
• Develops, updates, and maintains procedures, training materials, forms, and intranet content related to risk management programs.
• Participates in testing and validation activities related to risk management systems and process enhancements.
• Identifies systemic issues through data analysis, develops recommendations to improve operational efficiency, strengthen internal controls, and increase automation within risk management processes.
• Supports risk management training and awareness initiatives across the organization.
• Performs related duties as assigned.

Required Qualifications

• Associates degree in Business Administration, Finance, Risk Management, Information Technology, or a related field (or equivalent work experience).
• Two to four years of relevant experience in vendor management, contract administration, compliance, risk management, insurance administration, audit, or a related function.
• Working knowledge of third-party risk management, enterprise risk management, contract management, and corporate insurance processes.
• Experience with risk management, governance, risk and compliance (GRC), contract management, or vendor management software preferred.
• General knowledge of applicable regulatory requirements and guidance, including NCUA, FFIEC, GLBA, and third-party risk management expectations.
• Professional certifications preferred, such as Certified Regulatory Vendor Program Manager (CRVPM), National Credit Union Risk Management Certification (NCRM), or similar credentials.
• Or an equivalent combination of education and experience

Knowledge, Skills and Abilities

• Strong organizational skills and attention to detail.
• Ability to manage multiple tasks and meet deadlines.
• Effective written and verbal communication skills.
• Knowledge of SOC reports, independent audit reports, and other third-party assurance documentation.
• Strong analytical, organizational, and problem-solving skills with the ability to identify, assess, and communicate risk-related issues.
• Ability to evaluate existing processes and recommend enhancements that improve effectiveness, efficiency, and risk management outcomes.
• Analytical and critical thinking skills with the ability to interpret complex information, identify trends, evaluate risk, and formulate sound recommendations.
• Ability to synthesize information from multiple sources and communicate meaningful conclusions.
• Demonstrated judgment in evaluating risk and determining appropriate escalation.
• Ability to influence business partners through data-driven recommendations.
• Ability to identify root causes and recommend practical risk mitigation strategies.
• Proficiency in Microsoft Office (Excel, Word, Outlook, Teams).
• Ability to work both independently and collaboratively.
• Comfortable working with data and maintaining accurate records.
• Professional and responsive when working with internal stakeholders.
• Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC.

Working Conditions

• Ability to work the hours needed, which may extend beyond the defined work schedule when operating conditions dictate.
• Ability to lift up to 15 lbs., with or without assistance, in compliance with ADA.

The hourly rate for this position is $29.21 to $35.61 per hour based on experience.

Tower offers a comprehensive benefit package to include medical, prescription drug, dental, vision, company-paid life insurance, short-term disability, and long-term disability and a 401(K) retirement plan with a company match.