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Moody's is a global integrated risk assessment firm that empowers organizations to make better decisions.
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As the Senior Manager of Contract Risk, you will be responsible for reviewing the insurance provisions in vendor contracts, and developing a framework to assess, analyze, and run contractual risks associated with our company's third-party contracts. You will play a significant role in ensuring that our contracts safeguard our organization by aligning insurance as a risk mitigation tool with the nature and type of services being provided as well as developing and maintaining a risk assessment framework to identify and document all contract risk. The ideal candidate will have a strong background in insurance coverage, contract management, and a comprehensive understanding of risk management principles.
Functional Responsibilities:
- Review and analyze vendor contracts, identifying potential risks inherent in the proposed services.
- Liaise with business divisions to understand services provided, business needs and risk mitigants.
- Develop risk mitigation strategies and recommend modifications to contract terms to minimize potential risks as it relates to insurance provisions.
- Collaborate with legal counsel and other partners to negotiate and revise contracts, ensuring alignment with interpersonal objectives and risk appetite.
- Negotiate with business partners and vendors to ensure insurance correlates to the financial risk accepted by third parties.
- Acquire and validate insurance certificates and necessary documentation for final contracts.
- Develop and execute process for annual verification vendors remain in compliance with contractual provisions.
- Stay informed about industry trends and regulations to provide up to date guidance on insurance requirements
- Conduct risk assessments, identifying and prioritizing potential risks associated with contract terms, delivery, intellectual property, and other relevant factors.
- Develop and maintain database to track risk exceptions made
- Coordinate with third party risk team to provide insight on contract risk for suppliers and how this impacts the aggregate risk of a supplier.
- Identify and implement best practices in contract risk management to enhance efficiency and effectiveness.
Qualifications:
- Bachelor's degree in business administration, risk management, law, or a related field.
- Proven experience (5 years) in commercial insurance, risk management, contract analysis, or a related role.
- Strong understanding of insurance coverage, and risk mitigation.
- Excellent analytical skills with the ability to identify, assess, and mitigate risks associated with business services.
- Strong communication, negotiation and social skills, with the ability to collaborate effectively with cross-functional teams and customers.
- Proven ability to work in a fast-paced environment, prioritize tasks, and handle several projects simultaneously.
- Professional certification in risk management, contract management, or related fields are desirable.
Moody's is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity or any other characteristic protected by law.
Candidates for Moody's Corporation may be asked to disclose securities holdings pursuant to Moody's Policy for Securities Trading and the requirements of the position. Employment is contingent upon compliance with the Policy, including remediation of positions in those holdings as necessary.