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Internship Third Party Risk Management Jobs in Hackensack, NJ

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Internship Third Party Risk Management information

What is the difference between Internship Third Party Risk Management vs Third Party Risk Analyst?

AspectInternship Third Party Risk ManagementThird Party Risk Analyst
CredentialsTypically pursuing or recent graduate, no formal certification requiredBachelor's degree often required; certifications like CTPRP beneficial
Work EnvironmentInternship setting, supervised, entry-level tasksFull-time professional role, analytical and risk assessment tasks
Employer & Industry UsageInternship programs in finance, banking, or corporate sectorsFinancial institutions, corporations, and consulting firms

Internship Third Party Risk Management is an entry-level, supervised role for students or recent graduates gaining exposure to third-party risk processes. In contrast, a Third Party Risk Analyst is a full-time professional responsible for analyzing and managing third-party risks, often requiring relevant education and certifications. Both roles are essential in risk management but differ in experience level and responsibilities.

What is an internship in third party risk management?

An internship in Third Party Risk Management involves assisting organizations in identifying, assessing, and mitigating risks associated with their external vendors or partners. Interns typically support tasks such as conducting due diligence, reviewing vendor contracts, monitoring compliance, and helping to develop risk assessment reports. This position provides hands-on experience in risk analysis, compliance procedures, and understanding regulatory requirements related to third-party relationships. It's an excellent opportunity for students interested in risk management, compliance, or supply chain management to gain practical skills and industry knowledge.

What does an internship in third party risk management involve?

As an intern in Third Party Risk Management, you can expect to support the team in assessing, monitoring, and mitigating risks related to external vendors and partners. Typical tasks may include conducting due diligence reviews, assisting with risk assessments, updating databases, and helping prepare reports for senior management. You may also collaborate closely with procurement, compliance, and information security teams to ensure that third-party relationships align with company policies and regulatory requirements. This hands-on experience is valuable for understanding risk management processes and building cross-functional communication skills.

What are the key skills and qualifications needed for an internship in third party risk management?

To thrive in an Internship Third Party Risk Management role, you need a background in finance, business, or risk management, with strong analytical and research skills. Familiarity with risk assessment tools, vendor management systems, and Microsoft Excel is often required. Attention to detail, effective communication, and problem-solving abilities are important soft skills that set candidates apart. These competencies are crucial for accurately identifying and mitigating risks associated with third-party vendors, ensuring organizational compliance and security.
What cities near Hackensack, NJ are hiring for Internship Third Party Risk Management jobs? Cities near Hackensack, NJ with the most Internship Third Party Risk Management job openings:
Internship Third Party Risk Management jobs near you

Third Party Risk Management Lead, North America Insurance Operations

Sompo International Holdings Ltd.

Morristown, NJ • On-site

$130K - $195K/yr

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 19 days ago

Job description

Job Description
Are you looking for your next opportunity?
Sompo has a unique opportunity for a Third Party Risk Management Lead on our North America Insurance Operations team.
The Third Party Risk Management Lead will play a key role in implementing the Global TPRM Framework locally, coordinating with Central Global TPRM, and partnering with regional business, compliance, risk, legal, procurement, finance, and operational stakeholders to ensure third-party engagements are managed effectively and in accordance with internal requirements and applicable regulations
Location: This position can be based out of our Morristown, NJ or Charlotte, NC office locations. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our business, your impact, our opportunity:
What you'll be doing:
  • Implement and support the Global Third Party Risk Management (TPRM) framework across North America, ensuring alignment with enterprise policies, standards, tools, and reporting requirements.
  • Oversee third-party governance activities across the full lifecycle, including onboarding, due diligence, ongoing reviews, renewals, and terminations.
  • Monitor regional third-party compliance with internal policies, governance standards, and applicable regulatory requirements, escalating operational, compliance, contractual, or vendor risks as needed.
  • Maintain governance trackers, dashboards, and reporting to provide visibility into the regional third-party portfolio, risk status, compliance obligations, and key milestones.
  • Partner with business owners, contract owners, and cross-functional teams including Legal, Compliance, Risk, Finance, Procurement, IT, and Operations to ensure timely documentation, performance monitoring, and issue resolution.
  • Identify process improvement opportunities, strengthen controls and documentation, and support training, audit, regulatory, and stakeholder communication activities related to third-party oversight.

What you'll bring:
  • 10+ years of experience in contract administration, vendor management, procurement operations, third-party governance, or related roles.
  • Experience in insurance, financial services, or another regulated industry preferred.
  • Strong knowledge of contract lifecycle administration, vendor governance, and tracking of SLAs, renewals, contractual obligations, and governance deliverables.
  • Demonstrated ability to manage multiple agreements, deadlines, and stakeholder groups in a fast-paced environment with strong organization and attention to detail.
  • Excellent communication, analytical, and problem-solving skills, with the ability to work cross-functionally, build partnerships, and recommend process improvements.
  • Bachelor's degree or equivalent experience preferred; proficiency in Microsoft Office and experience with contract lifecycle, procurement, or workflow tools preferred, with ongoing professional development considered a plus.

Salary Range: $130,000 - $195,000. Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
  • Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
  • Pharmacy benefits with mail order options
  • Dental benefits including orthodontia benefits for adults and children
  • Vision benefits
  • Health Care & Dependent Care Flexible Spending Accounts
  • Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
  • Company-paid Disability benefits with very competitive salary continuation payments
  • 401(k) Retirement Savings Plan with competitive employer contributions
  • Competitive paid-time-off programs, including company-paid holidays
  • Competitive Parental Leave Benefits & Adoption Assistance program
  • Employee Assistance Program
  • Tax-Free Commuter Benefit
  • Tuition Reimbursement & Professional Qualification benefits

Who we are and what we stand for:
At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values-Accountability, Agility, Collaboration, Development, and Integrity-we build trust and support one another to achieve our goals. Life at Sompo page
Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contact the recruiter in charge.

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