Third Party Risk Management Specialist

Central Mutual Insurance Company; Dublin (OH); Hybrid; 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 will collaborate with business leaders to implement best practices, ensuring compliance and operational excellence. Your expertise will be vital in managing vendor relationships and mitigating risks, while you actively participate in cross-functional teams. This dynamic position offers the opportunity to develop training programs and prepare reports for leadership, making a significant impact on the organization. If you're ready to take on increasing responsibility and become a subject matter expert, this role is perfect for you.

Qualifications

• Bachelor’s degree or 3 years of experience in third-party risk management.
• Strong organizational and problem-solving skills are essential.

Responsibilities

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

Skills

Risk Management

Vendor Oversight

Organizational Skills

Problem-Solving

Communication Skills

Multi-tasking

Education

Bachelor’s degree in business or insurance-related field

Third-Party Risk Management Professional Certification

Tools

Contract Management System

Third-Party Risk Management Platform

Job description

Tuesday, April 22, 2025

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 will 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.

How You'll Make an Impact

• Manages and enhances Central’s third-party risk management program. This includes 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.
• Collaborates and coordinates 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 and will remediate any gaps or deficiencies related to a vendor’s compliance and/or performance and follows up on open items.
• Creates, reviews, updates, and documents policies, programs, and procedures related to the company’s supplier management policies and third-party risk management program.
• Enforces risk management policies to ensure adherence to risk management program.
• Develop and implement recommendations to reduce risks by implementing changes when risks are identified.
• Manages the third-party risk management platform, including overseeing all related activities and the administration of third-party risk assessments.
• Understand corporate risk appetite and apply recommendations.
• Actively participate in cross-functional teams as a subject-matter expert for vendor risk management.
• Prepares periodic reports for Leadership teams and supports audit and examination requests for information to monitor the effectiveness of the third-party risk management program.
• Develops and conducts 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.
• Manages the company’s contract management system, including overseeing all related activities and the administration of the platform.
• Travel as needed to perform other essential functions.

What You'll Bring

• 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.
• Superior organizational skills and attention to detail.
• Ability to identify issues, propose solutions, obtain stakeholder buy-in, and execute.
• Willingness to take on increasing responsibility and prioritize workload.
• Eagerness to dive in and learn areas of the law and/or industry that may be new, and become a subject matter expert.
• Comfortable with decision-making and obtaining stakeholder buy-in.
• Ability to proactively approach issues with problem-solving and decision-making skills.
• Possess verbal and written communication skills, including presentation and influence skills.
• Possess multi-tasking and prioritization skills.
• Ability to understand Central Insurance’s policies and processes.

Preferred

• Experience with contracts, service level agreements, and supplier management.
• 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 for this position. Individuals with temporary visas such as E, F-1 (including those with OPT or CPT), H-1, H-2, L-1, B, J, or TN, or who need sponsorship for work authorization now or in the future are not eligible for hire.

Equal Opportunity Employer
It is Central’s policy that all recruiting, hiring, training, compensation, overtime, job classification and assignment, facilities, promotions, transfers, employee treatment, and all other terms and conditions of employment shall be maintained in a manner that will not discriminate against any person because of race, color, age, sex, national origin, ancestry, religion, marital status, military status, or disability. The applicant should respond to questions on this application in a way that will not divulge such information. #LI-AS1, #LI-Hybrid