Third Party Risk Management Specialist – 3rd party Vendors
This role is based in Cork
Major Duties and Responsibilities
In this role you will report to the Procurement & Contracts Manager and deliver on strategic goals enabling cross-functional collaboration to support business success.
Third Party Risk Management - Vendor/supplier Onboarding & Ongoing Risk Assessment
* Lead centralised third-party risk management processes for all new and existing
vendor/suppliers
across the organisation.
* Conduct risk assessments for all
vendor/suppliers
in accordance with internal policies and standards.
* Coordinate risk and due diligence activities with internal stakeholders (Contract Owners, IT Security, Privacy, Legal).
* Support additional assessments for DORA, outsourcing, and operational resilience requirements.
* Liaise with external parties to facilitate onboarding and compliance tasks.
* Maintain a comprehensive
vendor/supplier
inventory using JIRA, documenting onboarding stages and assigning monitoring tasks based on risk ratings.
* Ensure annual re-assessments for Tier 1 and critical
vendor/suppliers
are completed.
Contract Monitoring & Oversight
* Annually review and update risk tiers for all active suppliers in JIRA.
* Monitor
vendor/supplier
performance with
contract
owners based on risk ratings and
contractual
obligations.
* Conduct biannual reviews of Critical/High/Elevated
vendor/suppliers
and monthly samples of medium-risk
vendor/suppliers
.
* Meet quarterly with
Contract
owners to assess compliance with the Third-Party Risk Management Policy.
* Escalate discrepancies or missed deadlines to relevant department heads.
* Report non-conformance to the
Procurement & Contracts Manager
.
* Flag potential risks for inclusion in the organisational Risk Register.
Vendor/supplier Offboarding
* Coordinate vendor/supplier offboarding in collaboration with Contract Owners.
* Ensure completion of offboarding questionnaires and assigned tasks.
* Request vendor/supplier removal from payment systems once all invoices are settled.
* Ensure Contract owners manage third party vendor/suppliers in line with regulatory and internal policy requirements.
* Collaborate on project initiatives as needed.
* Maintain and annually review the Third-Party Risk Management Policy and SOPs.
* Develop and update training materials for Contract owners, ensuring annual training is delivered via the internal learning platform.
* Support audits and regulatory reviews related to third party risk.
* Internal Contacts: Finance, Compliance, Legal, IT Security, Privacy, Senior Management, and cross-functional teams.
* External Contacts: Third party vendor/suppliers, external risk management teams, legal advisors, consultants, auditors.
Education Requirements
* Leaving Certificate & Bachelor's Degree
Problem Solving & Decision-Making skills
* Strong communication and interpersonal skills for effective stakeholder engagement.
* Excellent organizational skills and attention to detail.
* Deep understanding of risk management frameworks, regulatory compliance, and industry best practices.
Accountability
* This role directly influences
vendor/supplier
compliance, risk mitigation, and operational resilience.
* Impact includes vendor/supplier lifecycle management, audit readiness, and adherence to regulatory standards.
* Operates with limited supervision.
* Reports to the Procurement & Contracts Manager.
* Expected to proactively implement KPIs aligned with business objectives.
A competitive benefits package and hybrid working are available to the successful candidate.