Third-Party Risk Management Contract Specialist

The Third-Party Risk Management Contract Specialist is responsible for engaging in contract negotiations, evaluating complex vendor proposals, and providing expert guidance to various departments. This role focuses on optimizing vendor relationships while enhancing the overall risk management framework, ensuring compliance and mitigating potential risks associated with third-party partnerships.

Principal Duties & Responsibilities:

• Lead efforts to manage and mitigate vendor risks through strategic risk assessment and mitigation planning, ensuring alignment with the organization’s broader risk management goals and regulatory compliance.
• Manage complex vendor management issues, facilitating resolution and recommending strategic actions to senior leadership to optimize vendor relationships and mitigate risks.
• Drive complex contract negotiations by working directly with business units to define contract terms, collaborate with vendors, and ensure that agreements support the organization’s operational objectives while managing potential risks.
• Proactively assess potential risks in vendor contracts and engagements, implementing effective strategies to safeguard the organization from operational, financial, and reputational risks.
• Lead the monitoring and evaluation of vendor performance, utilizing data-driven insights to identify opportunities for continuous improvement, performance enhancements, and cost savings across the vendor base.
• Ensure contracts comply with legal standards, bank policies, and industry best practices, working closely with General Counsel and other stakeholders to integrate risk mitigation into vendor relationships.
• Continuously enhance vendor and contract management processes, tools, and procedures to drive efficiency and improve risk management practices across the organization.
• Collaborate with key business units to ensure adherence to risk management processes and provide expert guidance on complex vendor issues aligned with the organization’s strategic objectives.
• Ensure accurate recording and execution of contracts, maintaining consistent contract management practices across the vendor base.
• Track and report on cost savings, cost avoidance, and other financial benefits from contract negotiations and vendor management activities, ensuring alignment with the bank’s financial goals.
• Serve as a Subject Matter Expert (SME) on vendor management and third-party risk, offering consultative advice and training to internal teams and leadership on industry trends, best practices, and compliance matters.
• Lead key projects within the Third-Party Risk Management team to improve vendor performance, compliance, and risk mitigation strategies.
• Complete high-priority projects as assigned, contributing to the ongoing development of the organization’s Third-Party Risk Management program.

• Bachelor's Degree in Business Administration, Risk Management, Finance, or a related field. Equivalent work experience may be considered in lieu of a degree

• Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
• Please view Equal Employment Opportunity Posters provided by OFCCP here.
• The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
• Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at 305-577-7680 or by e-mail at employment@citynational.com.