Manager - Third Party Risk Management

Cencora, Inc. • Montpelier, VT

29d

About The Position

The TPRM Manager will lead the overall governance related to onboarding third-party vendors, monitoring their performance and compliance, tracking issues, and managing their termination. This role also involves supervising and leading a team of associates who are responsible for these day-to-day operations. This position entails building strong working relationships with Risk Groups, the Legal Department, Vendor Service Owners (VSOs), Sourcing, and other internal risk management and assurance partners. Reporting to the Third-Party Risk Senior Manager in Enterprise Risk Management, the TPRM Manager may also collaborate with other teams on specific projects.

Requirements

• Must have a minimum of five (5) years of experience in third party risk or other applicable role. Prior experience in Third Party Risk Management, Procurement, or managing supplier relationships preferred.
• Bachelor's degree required.
• Strong understanding of risk management principles and practices, particularly with respect to third-party relationships.
• Proven management experience with the ability to lead and develop a team.
• Proficient in data analysis and capable of interpreting contracts, compliance documentation, and financial statements.
• Excellent written and verbal communication skills for reporting findings and collaborating with vendors and internal stakeholders.
• Proven ability to identify and mitigate risks and develop effective risk mitigation strategies.
• Self-motivated and capable of working independently with strong organizational skills.
• Ability to multitask and thrive in a fast-paced environment.
• Consistently meets deadlines and delivers results.
• Proactive problem solver with sound judgment and critical thinking skills.
• Detail-oriented and results-driven.
• Proficient in Microsoft Word, Excel, Outlook, and PowerPoint.
• Willingness to learn new technology systems or programs.
• Experience with flowcharting software.
• High ethical standards with the ability to handle sensitive information confidentially.

Nice To Haves

• Experience in coding or programming is a plus.

Responsibilities

• Identify, measure, and report operational and Third-Party Risk Management risks
• Support management of third-party risk onboarding and due diligence by ensuring appropriate risk assessments are completed
• Supervise a team of associates responsible for day-to-day operations related to vendor onboarding, due diligence, contract management, ongoing monitoring, and terminations.
• Support Vendor Service Owners with due diligence documentation and evaluation of third-party relationships.
• Execute issue management end-to-end activities (issue identification, prioritization, assignment, remediation, closure) for matters pertaining to third parties
• Ensure adequate, appropriate, and current third-party risk documentation is maintained in the Third-Party Risk Management Software System
• Leverage the Third-Party Risk Management Software System as the system of record and as a reporting tool to analyze vendors for risk analysis
• Consult with business leaders to effectively manage change when required
• Provide risk oversight for process improvement projects, as needed.
• Liaise with senior management and Third-Party Risk Management stakeholders.
• Develop and oversee ongoing monitoring activities in alignment with TPRM policy.
• Provide subject matter expertise on various components of Third-Party Risk Management.
• Assist in developing and facilitating training materials for the Third-Party Risk Management program.
• Collaborate with other risk functions to support and advise in the development and implementation of risk mitigation controls.
• Conduct quality control reviews on data and submissions by stakeholders.
• Assist in creating and documenting procedures for departmental processes.
• Maintain policies and governance documents related to the Third-Party Risk Management program.
• Monitor and assess the effectiveness of inter-dependent risk and related program policies, procedures, processes, systems, and internal controls.
• Prepare reports and communicate risk findings and recommendations to senior management and stakeholders.
• Review contracts to ensure inclusion of required terms and conditions.
• Work with management and stakeholders to ensure proper vendor termination procedures are in place and enforced.
• Continuously refine the Third-Party Risk Management Program in response to emerging trends and evolving industry best practices and regulatory requirements.
• Perform other duties as assigned.

Benefits

• In addition to traditional offerings like medical, dental, and vision care, we also provide a comprehensive suite of benefits that focus on the physical, emotional, financial, and social aspects of wellness. This encompasses support for working families, which may include backup dependent care, adoption assistance, infertility coverage, family building support, behavioral health solutions, paid parental leave, and paid caregiver leave. To encourage your personal growth, we also offer a variety of training programs, professional development resources, and opportunities to participate in mentorship programs, employee resource groups, volunteer activities, and much more.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Merchant Wholesalers, Nondurable Goods
• Number of Employees: 5,001-10,000 employees