Third Party Risk Management Specialist - Remote

501 CSAA Insurance Services, Inc.; Massachusetts; Remote; USD 80,000 - 110,000; Full time

Job summary

A leading insurance company is seeking a Third Party Risk Management Specialist to assess risks from suppliers and improve risk management strategies. The role involves conducting risk assessments, ensuring compliance, and developing training programs. Ideal candidates will have a Bachelor's degree and at least 3 years of relevant experience, along with strong communication and organizational skills.

Benefits

Performance bonuses

401(k) with company match

Qualifications

• 3+ years’ experience in Third Party Risk Management or related fields.
• Self-directed, able to work independently and within a team.
• Knowledge of third-party risk governance, policies, and structures.

Responsibilities

• Conduct comprehensive risk assessments of third-party relationships.
• Develop and implement risk mitigation strategies.
• Prepare and present reports on third-party risk management activities.

Skills

Communication

Relationship Building

Organizational Skills

Risk Governance Knowledge

Compliance Understanding

Education

Bachelor’s degree or equivalent

Tools

Coupa Risk Assess

Archer

ServiceNow

Job description

CSAA Insurance Group (CSAA IG), a AAA insurer, is one of the top personal lines’ property and casualty insurance groups in the U.S. Our employees proudly live our core beliefs and fulfill our enduring purpose to help members prevent, prepare for, and recover from life's uncertainties. We are committed to progress over perfection, recognizing every day as an opportunity to be innovative and adaptable. At CSAA IG, we hire good people for a brighter tomorrow. We are actively hiring for a Third Party Risk Management Specialist. Join us and support CSAA IG in achieving our goals.

Your Role :

The Third Party Risk Management Specialist is responsible for assessing the risks introduced by relationships with suppliers and evaluating the effectiveness of their controls to mitigate those risks to CSAA's tolerance. The specialist will perform evaluations using established processes and criteria, aiming to reduce the third-party vendor risk portfolio, improve risk management, and achieve better risk outcomes for the enterprise.

Your Work :

1. Risk Assessment : Conduct comprehensive risk assessments of third-party relationships to identify and evaluate potential risks across multiple risk domains.
2. Due Diligence : Perform due diligence on third-party suppliers to ensure they meet organizational standards and regulatory requirements.
3. Risk Mitigation : Develop and implement risk mitigation strategies and controls to minimize exposure to third-party risks.
4. Contract Review : Collaborate with Legal and Procurement teams to include appropriate risk mitigation provisions in contracts.
5. Reporting and Communication : Prepare and present reports on third-party risk management activities to senior management and stakeholders, communicating findings and recommendations effectively.
6. Regulatory Compliance : Stay updated on relevant laws, regulations, and industry best practices, ensuring compliance and addressing updates proactively.
7. Training and Awareness : Develop and deliver training programs to educate employees on third-party risk policies, fostering a culture of risk awareness and accountability.
8. Support senior leadership efforts to adopt a rigorous risk posture and manage third-party vendor risk and portfolio reduction.

Required Experience, Education, and Skills

• 3+ years’ experience in Third Party Risk Management or related fields.
• Bachelor’s degree or equivalent in related areas.
• Self-directed, able to work independently and within a team.
• Strong communication and relationship-building skills.
• Excellent organizational skills for managing multiple assessments.
• Knowledge of third-party risk governance, policies, and structures.
• Understanding of legal and compliance requirements.

Preferred Attributes :

• Experience or education in information security, cyber security, IT, legal, or enterprise risk management.
• Procurement experience.
• Industry experience in property casualty insurance.
• Familiarity with platforms like Coupa Risk Assess, Archer, ServiceNow.
• Active engagement in company culture, mentorship, volunteering, and cross-functional projects.
• Willingness to travel as needed and contribute beyond immediate role responsibilities.

At CSAA IG, we are dedicated to protecting our communities and the planet, committed to our mission of service, inclusion, and innovation. We offer a comprehensive compensation package, including performance bonuses, 401(k) with company match, and more!