Third Party Risk Management Analyst

The Third-Party Risk Analyst is responsible for managing ongoing performance monitoring, due diligence, and onboarding for third party relationships while facilitating strong working relationships with Risk Groups, the Legal Department, Vendor Service Owners (VSOs), Sourcing, and other internal risk management and assurance partners. This position reports to the Third-Party Risk Manager in Enterprise Risk Management but may also serve as a shared resource within other teams in Enterprise Risk Management on specific projects.

Primary Duties and 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
• Assist Business 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
• Oversee and / or develop ongoing monitoring activities in alignment with TPRM policy
• Provide subject matter expertise on certain components of Third-Party Risk Management
• Assist in developing training materials to support the Third-Party Risk Management program; help facilitate internal training of stakeholders on Third-Party Risk Management program requirements
• Work with other risk functions to understand, support and / or advise in development and implementation of controls that mitigate risks
• Provide quality control review on data and submissions by the Business Sponsors
• Assist in the creation of desktop procedures for departmental processes
• Maintain policies and other governance documents relating to the Third Party Risk Management program
• Monitor and evaluate the adequacy and effectiveness of the various inter-dependent risk and related program policies, procedures, processes, systems, and internal controls that will help effectively manager third party risk
• Prepare reports and communicate risk findings and recommendations to senior management and stakeholders
• Review contracts to ensure inclusion of particular required terms and conditions
• Work with management and stakeholders to ensure proper vendor termination procedures are in place and enforced
• Continuously refine and adapt the Third Party Risk Management Program in response to emerging trends, and evolving industry best practices, and regulatory requirements.
• Perform other duties as assigned

Experience and Educational Requirements:

• Bachelors Degree - required

Minimum Skills, Knowledge and Abilities Requirements:

• Strong understanding of risk management principles and practices, particularly as they relate to third party relationships
• Familiarity with contract negotiation, invoice processing or legal terms review preferred
• Proficiency in data analysis and the ability to assess and interpret contracts, compliance documentation, and financial statements
• Excellent written and verbal communication skills required for reporting findings, communicating with vendors and collaborating with internal stakeholders
• The ability to identify and mitigate risks, as well as to develop effective risk mitigation strategies
• Self-motivated, ability to work independently, strong organizational skills
• Ability to multitask and work in a fast paced environment
• Consistently delivers results and meets deadlines
• Proactive problem solver
• Ability to communicate clearly and with confidence to all associate levels
• Excellent judgement and critical thinking
• Results orientated and detail driven
• Proficient in Word, Excel, Outlook, PowerPoint
• Willingness to learn new technology systems or programs
• Experience with flowcharting software
• Prior experience in Third Party Risk Management, Procurement, or managing supplier relationships is preferred
• High ethical standards and the ability to handle sensitive information with confidentiality

We provide compensation, benefits, and resources that enable a highly inclusive culture and support our team members' ability to live with purpose every day. 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. For details, visit https://www.virtualfairhub.com/cencora

*This Salary Range reflects a National Average for this job. The actual range may vary based on your locale. Ranges in Colorado/California/Washington/New York/Hawaii/Vermont/Minnesota/Massachusetts/Illinois State-specific locations may be up to 10% lower than the minimum salary range, and 12% higher than the maximum salary range.

Cencora is committed to providing equal employment opportunity without regard to race, color, religion, sex, sexual orientation, gender identity, genetic information, national origin, age, disability, veteran status or membership in any other class protected by federal, state or local law.

The company's continued success depends on the full and effective utilization of qualified individuals. Therefore, harassment is prohibited and all matters related to recruiting, training, compensation, benefits, promotions and transfers comply with equal opportunity principles and are non-discriminatory.

Cencora is committed to providing reasonable accommodations to individuals with disabilities during the employment process which are consistent with legal requirements. If you wish to request an accommodation while seeking employment, please call 888.692.2272 or email hrsc@cencora.com. We will make accommodation determinations on a request-by-request basis. Messages and emails regarding anything other than accommodations requests will not be returned

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