[Hiring] 3rd Party Compliance Specialist @Core Health & Fitness, LLC

Role Description

The 3rd Party Compliance Specialist ensures that all third-party vendors, contractors, and service providers adhere to company policies, industry standards, and regulatory requirements. This role is responsible for conducting audits, assessments, and ongoing monitoring to ensure compliance with legal, ethical, and contractual obligations. The specialist will serve as a key point of contact for compliance issues and will collaborate with internal departments to mitigate risks and uphold the integrity of the organization’s partnerships.

Essential Functions / Major Responsibilities

• Monitor and Audit Compliance: Oversee third-party relationships to ensure all vendors, contractors, and service providers comply with company policies, industry regulations, and contractual agreements. Conduct regular audits to assess adherence to compliance standards and take corrective action when necessary.
• Risk Management: Identify compliance risks and recommend appropriate mitigation strategies. Track regulatory changes and ensure compliance measures are updated to reflect any changes in industry standards or legal requirements.
• Policy and Procedure Enforcement: Review and enforce company policies related to third-party agreements. Ensure that all compliance guidelines are effectively communicated and understood by both internal teams and external service providers.
• Training and Support: Develop and deliver training programs on compliance requirements for both internal teams and third-party vendors. Provide ongoing support and clarification regarding compliance matters as they arise.
• Documentation and Reporting: Maintain accurate records of compliance audits, assessments, and vendor performance. Prepare detailed reports on compliance findings, corrective actions taken, and outcomes achieved.
• Internal Collaboration: Act as a liaison between compliance, legal, procurement, and operational teams to address compliance concerns and ensure that third-party operations align with company values and regulations.
• Incident Investigation and Resolution: Investigate any compliance breaches or incidents related to third-party vendors. Work closely with relevant departments to resolve issues promptly and ensure corrective measures are implemented.
• Vendor Performance Evaluation: Monitor vendor performance against agreed-upon service levels and contractual obligations. Provide feedback to vendors on performance and ensure continuous improvement.
• Regulatory Research: Stay informed about industry regulations and laws affecting third-party relationships. Proactively implement changes to compliance programs as needed to meet regulatory requirements.
• Onboarding and Hiring New Providers: Actively looking at markets and where needed search for new providers. Vetting them to see if they would be able to meet our needs and compliance.

Qualifications

• Strong organizational, analytical, and problem-solving skills.
• Ability to communicate effectively with external partners and internal stakeholders.
• Attention to detail and a proactive approach to identifying compliance gaps and risks.
• Ability to read and interpret contracts, legal documents, and regulatory guidelines.
• Familiarity with data privacy regulations (e.g., GDPR, CCPA) and industry-specific compliance standards.
• Ability to work independently and manage multiple projects simultaneously.
• Strong conflict resolution skills and the ability to manage sensitive issues diplomatically.
• Ability to maintain confidentiality and protect sensitive business and compliance information.

Requirements

• Minimum of 3 years of experience in compliance, auditing, or vendor management, ideally in a third-party risk management or compliance role.
• Experience with contract review and compliance auditing in an industry-relevant context (e.g., healthcare, finance, manufacturing).
• Strong understanding of regulatory requirements and industry standards applicable to third-party relationships.
• Familiarity with compliance management software and tools.
• Experience in managing compliance investigations and working with legal teams on risk mitigation.
• Ability to use MS Office Suite (Word, Excel, PowerPoint) and compliance management software.

Job Specific Competencies

• Compliance Knowledge: Deep understanding of third-party risk management, regulatory frameworks, and industry-specific compliance standards.
• Attention to Detail: Demonstrates thoroughness in reviewing third-party contracts, audits, and vendor performance.
• Problem Solving: Identifies the root cause of compliance issues and implements appropriate solutions.
• Communication Skills: Strong verbal and written communication skills. Ability to present complex information clearly and effectively to both internal and external stakeholders.
• Negotiation and Influence: Effectively communicates expectations to third-party vendors and persuades them to comply with compliance standards.
• Ethics and Integrity: Maintains high ethical standards in ensuring that third-party vendors and contractors meet legal and contractual obligations.

Position Status

• Level: Staff
• FLSA: Non-Exempt
• Supervises: N/A