Third Party Risk Manager at Acrisure

Grand Rapids, Michigan, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, Insurance, Financial ServicesIndustries

Requirements

Positive attitude
Organized and detail-oriented
Takes personal responsibility for work and career
Works well in a team
Working knowledge of commercial insurance (preferred)
Minimum of 7-10 years of experience

Responsibilities

Design and implement a best-in-class third-party risk management framework, including vendor identification, evaluation and selection, risk assessment, risk decision, contracting and procurement, and reporting and record-keeping
Own the third-party lifecycle process, including onboarding, risk tiering, contract reviews, ongoing monitoring, and exit strategies
Partner with ‘first line’ teams to provide guidance and oversight in the assessment of third parties, including new and existing third-party relationships, by embedding good risk practices and finding solutions to problems, identifying risks and recommending controls
Play a key role in the management of third-party related risk incidents and issues
Support the development and implementation of a third-party risk policy, standards, procedures, training materials, key risk indicators, key performance indicators, and appetite statements
Conduct in-depth reviews of different areas of the business and report on third-party risk matters to oversight committees, internal stakeholders, and external stakeholders
Analyze business processes to evaluate the effectiveness of relevant third-party controls
Lead and document due diligence processes (e.g., questionnaires, risk reviews)
Promote development of educational guidance and resources
Ensure quality standards are achieved in development and maintenance of program documentation
Collaborate with legal and compliance teams to address regulatory requirements
Act as a liaison with regulatory bodies, auditors, and other external stakeholders regarding risk management practices and compliance matters
Identify, track, and escalate vendor-related incidents or issues; manage risk remediation plans

Skills

Key technologies and capabilities for this role

Third Party Risk ManagementVendor IdentificationVendor EvaluationRisk AssessmentContractingProcurementRisk ReportingOperational Risk Management

Questions & Answers

Common questions about this position

What is the reporting structure for the Third Party Risk Manager role?

This position reports directly to the Head of Operational Risk Management.

Is this a remote position or does it require office presence?

The job mentions an office conveniently located in Downtown Grand Rapids at the Studio Park complex, suggesting an on-site requirement, but no explicit remote policy is stated.

What key skills are needed for the Third Party Risk Manager position?

The role requires strategic and tactical problem resolution skills, being organized and detail-oriented, a positive attitude, personal responsibility, and the ability to work well in a team.

What is the company culture like at Acrisure?

Acrisure recognizes excellence, promotes from within, and seeks motivated, organized, and positive employees who work well in a team.

What makes a strong candidate for this Third Party Risk Manager role?

Strong candidates demonstrate a positive attitude, organization, detail-orientation, personal responsibility, teamwork, and skills in strategic and tactical problem resolution, particularly in third-party risk management.

Acrisure

Insurance broker specializing in risk management

About Acrisure

Acrisure provides insurance and risk management services through a network of independent insurance agencies known as Agency Partners. This model allows Acrisure to offer tailored solutions to a diverse clientele, including business owners and institutions in sectors like agriculture, arts, and waste management. The Agency Partners maintain local relationships while leveraging Acrisure's global resources, ensuring personalized service. The company generates revenue by earning commissions and fees from insurance policies sold through its partners, fostering a mutually beneficial relationship. Acrisure's goal is to combine local expertise with global capabilities to deliver high-quality insurance solutions.

Grand Rapids, MichiganHeadquarters

2005Year Founded

$19.5MTotal Funding

DEBTCompany Stage

Financial ServicesIndustries

1,001-5,000Employees

Risks

Increased competition from fintech firms may challenge Acrisure's market share.

Rapid expansion could lead to integration risks and cultural clashes.

Strategic alliances may result in conflicts of interest or operational inefficiencies.

Differentiation

Acrisure's unique model leverages a global network of independent Agency Partners.

The company combines local expertise with global resources for tailored client solutions.

Acrisure's rapid growth is driven by strategic partnerships and innovative insurance products.

Upsides

Acrisure's expansion into new markets like Bermuda strengthens its global presence.

The appointment of industry veterans enhances Acrisure's leadership and growth potential.

Winning 'Broker of the Year' boosts Acrisure's reputation and client trust.

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