Third Party Risk Management Specialist

Central Insurance; Dublin (OH); On-site; USD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Third-Party Risk Management Specialist to enhance their risk management program. In this pivotal role, you'll collaborate with various business leaders to implement best practices and ensure compliance. Your expertise will be crucial in managing vendor relationships, developing training programs, and preparing reports for leadership. This is an exciting opportunity to be at the forefront of operational excellence and regulatory adherence, making a significant impact in a dynamic environment. If you're proactive, detail-oriented, and eager to grow in your career, this role is for you!

Qualifications

• Bachelor’s degree in business or insurance-related field with one year of experience in risk management.
• Three years’ experience in third-party risk management is also acceptable.

Responsibilities

• Manage and enhance the third-party risk management program to mitigate vendor risks.
• Collaborate with business leaders to ensure compliance and effective oversight.

Skills

Risk Management

Vendor Oversight

Organizational Skills

Problem Solving

Communication Skills

Education

Bachelor’s Degree in Business or Insurance

Experience in Third-Party Risk Management

Tools

Contract Management System

Third-Party Risk Management Platform

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
2. Or three years’ experience in third-party risk management
3. Superior organizational skills and attention to detail
4. Ability to identify issues, propose solutions, obtain stakeholder buy-in, and execute
5. Willingness to take on increasing responsibility and prioritize workload
6. Eagerness to learn and become a subject matter expert in new areas
7. Comfortable with decision-making and stakeholder engagement
8. Proactive problem-solving and decision-making skills
9. Verbal and written communication skills, including presentation and influence skills
10. Multi-tasking and prioritization skills
11. 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

Additional Information

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

Equal Opportunity Employer: Central Insurance is committed to a non-discriminatory workplace and employment practices.