Third Party Risk Management Analyst

Third-Party Risk Analyst

Our team members are at the heart of everything we do. At Cencora, we are united in our responsibility to create healthier futures, and every person here is essential to us being able to deliver on that purpose. If you want to make a difference at the center of health, come join our innovative company and help us improve the lives of people and animals everywhere. Apply today!

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.

Assist Business Owners with due diligence documentation and evaluation of third-party relationships.

Execute issue management end-to-end activities for matters pertaining to third parties.

Ensure adequate, appropriate, and current third-party risk documentation is maintained.

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.

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 manage 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.