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Internship Third Party Risk Management Jobs in Springfield, MA

Archgroup

Program Management Specialist

Hartford, CT · Hybrid

$95K - $166K/yr

External resources include Program Administrators (MGA), Third Party Administrators (TPA) and other ... Bachelor's degree in Finance, Economics, Business, Risk-management or a related field. * 5 -10 ...

Travelers

Senior Manager, External Data

Hartford, CT · On-site

... risk management. This role offers meaningful leadership exposure through collaboration across ... management of enabled data capabilities, supporting business teams in leveraging third-party data ...

New

The Hartford

AVP, Data Platform Engineering

Hartford, CT · On-site

$115K - $138K/yr

Strong understanding of Third-Party Data lifecycle management, including acquisition, integration, governance, quality, lineage, compliance, risk management, and enterprise consumption patterns.

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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 types of tasks and responsibilities can I expect during an internship in Third Party Risk Management?

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 to thrive as an Internship Third Party Risk Management, and why are they important?

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 are the most commonly searched types of Third Party Risk Management jobs in Springfield, MA? The most popular types of Third Party Risk Management jobs in Springfield, MA are:
What are popular job titles related to Internship Third Party Risk Management jobs in Springfield, MA? For Internship Third Party Risk Management jobs in Springfield, MA, the most frequently searched job titles are:
What cities near Springfield, MA are hiring for Internship Third Party Risk Management jobs? Cities near Springfield, MA with the most Internship Third Party Risk Management job openings:
Internship Third Party Risk Management jobs near you

Program Management Specialist

Archgroup

Hartford, CT • Hybrid

$95K - $166K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 15 days ago

Job description

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility.

Position Summary

This role is responsible for driving strategy execution and financial performance for assigned programs by coordinating internal teams and external partners, including MGAs, TPAs, and key service providers. The position oversees all program management activities and collaborates crossfunctionally with underwriting, claims, actuarial, finance, IT, compliance, and other Arch partners to deliver strong, sustainable results.

Responsibilities and Accountabilities

This position is accountable for evaluating and ensuring execution of strategies and initiatives for assigned programs and financial results of such programs. Position will be responsible for coordinating activities of a team of internal and external resources that deliver superior program results. External resources include Program Administrators (MGA), Third Party Administrators (TPA) and other service providers (e.g., loss control firms). Arch resources include referral underwriters, claims, corporate underwriting, actuarial, finance, IT, compliance,product,and others as necessary. Responsibilities include all activities necessary to manage program and deliver superior financial results, including the following:

Planning:

  • Work with the Sr. Program Manager to develop detailed annual financial budget that includes key revenue and profit metrics that will be measured against budget throughout the year.
  • Leverage program metrics to identify trends, opportunities and vulnerabilities that will help inform program strategies.

Execution:

  • Evaluate monthly datafeedsand resultsto identify outliers and trends that contradictor bolsterdocumented program strategies.
  • Partner with the underwriting team to ensure alignment on strategies and identify deviations from documented program strategies.
  • Engage Underwriting team to drive specific underwriting initiatives for program.

Measurement:

  • Analyze key performance indicators for top line and bottom line on regular basis and assess versus budget expectations.
  • Share analysis with Senior Program Manager and collaboratively develop plans to address opportunities or issues uncovered in analysis.

Partnering:

  • Develop partnership with Program Administrators business to help drive business priorities.
  • Maintain strong relationships with internal support groups to help drive business priorities.

Required Skills and Abilities

  • Bachelor's degree in Finance, Economics, Business, Risk-management or a related field.
  • 5 -10 years of property and casualty underwriting insurance industry experience.
  • Programs experienceor related experiences in people management and/or interdisciplinary projectspreferred.

*Position offered will be dependent upon the individual candidate's qualifications.

#LI- Hybrid

#LI-JG1

For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.

$95,700 - $166,633/year

  • Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.

  • Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more. Click here to learn more on available benefits.

Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you.If this job isn't the right fit but you're interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch's Talent Acquisition team.

14400 Arch Insurance Group Inc.

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