The Role
Supports risk management activities including vendor monitoring and onboarding, contract and insurance certificate administration, business continuity planning, policy management, claims coordination, fraud liability searches, and key risk indicator reporting. Maintains risk management systems, records, documentation, and tracking schedules; coordinates reviews, testing, renewals, and corrective actions with internal stakeholders. Requires strong organization, analytical ability, confidentiality, and proficiency with Microsoft Office.
Summary Generated by Built In
POSITION SUMMARY
Responsible for supporting Risk Management functions including vendor risk monitoring, contract management, business continuity, policy management, claims coordination, lender fraud liability searches, and maintenance of risk management systems and records.
ESSENTIAL REQUIREMENTS
- Conduct ongoing critical vendor monitoring through internet searches, major news sites, SEC filings, regulatory agencies, press releases, company websites, and report items of concern.
- Upload and maintain contracts and agreements in Nvendor and related contract management systems.
- Receive and review new preferred vendor packets from Administrative Services and coordinate the vendor risk assessment process by submitting documentation for risk rating approval.
- Review, analyze, and approve vendor Certificates of Insurance (COIs) to ensure compliance with organizational insurance requirements and risk management standards.
- Maintain accurate vendor records by uploading required documentation into the vendor management system (Nvendor) and updating the Insurance Tracking Spreadsheet.
- Maintain new contract inventories and support contract retrieval and expiration monitoring.
- Identify and onboard new vendors by reviewing Accounts Payable reports and business debit card transactions, researching vendor services and relationship ownership, coordinating with internal stakeholders as needed, and maintaining accurate vendor records in Nvendor.
- Review business debit card activity to identify new vendor relationships and update vendor management records.
- Assist with the administration and maintenance of the Business Continuity (BC) program, including tracking annual reviews and updates of business unit continuity plans.
- Coordinate annual business continuity reviews with business unit leaders to ensure plans, recovery strategies, key personnel, and critical process information remain accurate and current.
- Collect, compile, and maintain BC documentation and update SourceNet.
- Support BC exercises, tabletop tests, and program improvement initiatives by coordinating communications, documentation, and results tracking.
- Gather Key Risk Indicator (KRI) data from business units, validate submissions, and maintain reporting schedules and tracking records.
- Help prepare KRI reports, trend analyses, and management summaries to support risk monitoring and reporting activities.
- Follow up with business units regarding overdue BC reviews, KRI submissions, testing requirements, and corrective action items.
- Track vendor certificates of insurance, request renewals, and update Nvendor records.
- Facilitate corporate policy review, approval, publication, and maintenance processes.
- Maintain Policy Management Portal records and SourceNet policy documentation.
- Receive Global Companion Insurance policy. Copy and laminate included card to distribute to individuals listed as Foreign Travel Memo Recipients. Make annual updates to list of recipients.
- Assist with risk management projects as assigned.
- Maintain regular and predictable attendance.
- Complete all required compliance training and comply with applicable laws, regulations, and corporate policies.
- Regular and predictable attendance is an essential requirement of the position.
- Responsible for the completion of all compliance training related to the position.
- Understands all applicable laws and regulations that apply to the position and comply with the requirements.
NON-ESSENTIAL FUNCTIONS
Performs all other duties as assigned.
EXPERIENCE/SKILLS
- One or more years of risk management, contract management, legal support, vendor management, or related experience preferred but not required.
- Strong proficiency in Microsoft Word, Excel, Outlook, and related business systems.
- Strong analytical, organizational, and communication skills.
- Ability to manage multiple priorities and meet deadlines.
- Ability to maintain confidentiality and exercise sound judgment.
- Attention to detail and accuracy.
EDUCATION
Bachelor’s degree preferred.
TRAVEL REQUIREMENTS
Ability to travel to all locations as well as ability to travel overnight, as needed for meetings, projects, training, seminars, etc.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions.
While performing the duties of this job, the employee is required to sit, stand and walk; use hands and fingers to operate keyboard and other office equipment; reach with hands and arms; and talk or hear. The employee is occasionally required to stoop or kneel. The employee may occasionally lift and/or move up to 10 pounds.
EQUIPMENT
MS Office PC, phone and standard office equipment.
Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThis employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Skills Required
- One or more years of risk management, contract management, legal support, vendor management, or related experience
- Bachelor's degree
- Strong proficiency in Microsoft Word, Excel, Outlook, and related business systems
- Strong analytical, organizational, and communication skills
- Ability to manage multiple priorities and meet deadlines
- Ability to maintain confidentiality and exercise sound judgment
- Attention to detail and accuracy
- Ability to travel to all locations and travel overnight as needed
1st Source Bank Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about 1st Source Bank and has not been reviewed or approved by 1st Source Bank.
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Healthcare Strength — Health insurance, prescription coverage, and full coverage for preventive care and certain screenings are described as available. Dental and vision coverage, telemedicine, maternity support programs, and tobacco cessation offerings add breadth to the health package.
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Retirement Support — A 401(k) plan is described as available with both Traditional and Roth savings options, alongside HSAs for eligible expenses. Life, accident, and disability protections are also described as part of the broader financial security offering.
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Wellbeing & Lifestyle Benefits — Wellness programs such as weight-loss support and other wellbeing initiatives are described as available, sometimes at no extra cost to eligible members. Financial wellness workshops and planning resources are also described as offered.
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The Company
What We Do
Founded in 1863 in South Bend, Indiana, 1st Source Bank has offered clients a convenient and friendly way to bank for over 155 years. At 1st Source, we listen to our clients, understand their needs and always keep their best interests in mind. 1st Source Bank remains the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. We operate banking centers across our region, boast 1st Source Bank Specialty Finance Group locations nationwide, as well as several Wealth Advisory Services locations and 1st Source Insurance offices. We deliver a comprehensive range of banking services along with highly personalized attention to our clients, both individuals and businesses. Our mission is to help our clients achieve security, build wealth and realize their dreams. Additionally, for over 155 years, 1st Source Bank has been giving back to our communities to actively help build good places to live, work and raise our families. This service to our community is one of our principal values and has defined who we are and how we do business. Member FDIC | Equal Housing Lender
