Third Party Risk Management Specialist

Central Insurance; Alpharetta (GA); On-site; USD 60,000 - 100,000; Full time

Job summary

Join a forward-thinking company as a Third-Party Risk Management Specialist, where you will play a key role in safeguarding operations and ensuring compliance. This dynamic position involves managing and enhancing the third-party risk management program, collaborating with various business leaders, and implementing best practices to mitigate vendor risks. You'll be at the forefront of operational excellence and regulatory adherence, making a significant impact in a supportive and inclusive environment. If you are eager to learn and grow as a subject matter expert, this opportunity is perfect for you.

Qualifications

• Bachelor’s degree in business or insurance-related field required.
• One year of experience in third-party risk management preferred.

Responsibilities

• Manage and enhance third-party risk management program.
• Collaborate with business leaders for vendor risk oversight.
• Prepare periodic reports for leadership teams.

Skills

Organizational Skills

Problem-Solving Skills

Communication Skills

Stakeholder Engagement

Multi-tasking

Education

Bachelor’s Degree in Business or Insurance

Third-Party Risk Management Certification

Job description

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Location: Dublin, OH; Van Wert, OH; Irving, TX; Waltham, MA; Alpharetta, GA

Join our dynamic team as a Third-Party Risk Management Specialist and be at the forefront of safeguarding our operations and ensuring compliance. In this pivotal role, you'll manage and enhance our third-party risk management program, collaborate with business leaders, and implement best practices to mitigate vendor risks. Your expertise in risk management and vendor oversight will be crucial in maintaining operational excellence and regulatory adherence.

Responsibilities:

1. Manage and enhance Central’s third-party risk management program, including employing best practices and standardizing processes, procedures, and tools to assess vendor risks, establishing risk categories, and managing ongoing monitoring activities to mitigate operational and compliance risk related to the company’s vendors under regulatory requirements, business needs, and contractual terms.
2. Collaborate and coordinate with business unit leaders and subject matter experts (e.g., information security, business continuity, legal and compliance) to provide effective oversight and risk management of vendor relationships and performance, remediate any gaps or deficiencies related to a vendor’s compliance and/or performance, and follow up on open items.
3. Create, review, update, and document policies, programs, and procedures related to the company’s supplier management policies and third-party risk management program.
4. Enforce risk management policies to ensure adherence to risk management program.
5. Develop and implement recommendations to reduce risks by implementing changes when risks are identified.
6. Manage the third-party risk management platform, including overseeing all related activities and the administration of third-party risk assessments.
7. Understand corporate risk appetite and apply recommendations.
8. Actively participate in cross-functional teams as a subject-matter expert for vendor risk management.
9. Prepare periodic reports for leadership teams and support audit and examination requests for information to monitor the effectiveness of the third-party risk management program.
10. Develop and conduct training related to the program requirements and user training related to third-party risk management and the technology solution that supports third-party risk management.
11. Manage the company’s contract management system, including overseeing all related activities and the administration of the platform.
12. Travel as needed to perform other essential functions.

Qualifications:

1. Bachelor’s degree in business or insurance-related field and one year of experience in third-party risk management, or three years’ experience in third-party risk management.
2. Superior organizational skills and attention to detail.
3. Ability to identify issues, propose solutions, obtain stakeholder buy-in, and execute.
4. Willingness to take on increasing responsibility and prioritize workload.
5. Eagerness to learn and become a subject matter expert in new areas.
6. Comfortable with decision-making and stakeholder engagement.
7. Strong problem-solving and decision-making skills.
8. Excellent verbal and written communication skills, including presentation and influence skills.
9. Multi-tasking and prioritization skills.
10. Understanding of Central Insurance’s policies and processes.

Preferred Qualifications:

1. Experience with contracts, service level agreements, and supplier management.
2. Third-Party Risk Management Professional Certification.

Work Authorization: Central will only employ those legally authorized to work in the United States. Sponsorship will not be provided.

Equal Opportunity Employer: Central is committed to a diverse and inclusive workplace, and prohibits discrimination and harassment of any kind.