Third Party Risk Management Specialist

Central Insurance; Waltham (MA); On-site; USD 60,000 - 100,000; Full time

Job summary

Join a dynamic team as a Third-Party Risk Management Specialist and play a crucial role in safeguarding operations and ensuring compliance. This pivotal position involves managing the third-party risk management program, collaborating with business leaders, and implementing best practices to mitigate vendor risks. You'll have the opportunity to develop and enhance policies, oversee risk assessments, and engage with cross-functional teams. If you're passionate about risk management and eager to make an impact, this role offers a chance to grow and excel in a supportive environment.

Qualifications

• 1+ years in third-party risk management or 3 years of relevant experience.
• Strong communication and problem-solving skills are essential.

Responsibilities

• Manage and enhance third-party risk management program and policies.
• Collaborate with business leaders for effective vendor oversight.

Skills

Third-party risk management

Organizational skills

Problem-solving

Stakeholder engagement

Communication skills

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

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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.

How You'll Make An Impact

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

What You'll Bring

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. Excellent verbal and written communication skills, including presentation and influence
10. Multi-tasking and prioritization skills
11. Understanding of Central Insurance’s policies and processes

Preferred

1. Experience with contracts, SLAs, 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 for this position. Individuals with temporary visas such as E, F-1 (including OPT or CPT), H-1, H-2, L-1, B, J, or TN, or who need sponsorship now or in the future are not eligible for hire.

Equal Opportunity Employer

It is Central’s policy that all employment-related actions are non-discriminatory, respecting all protected classes. Applicants should respond to questions without disclosing such information.