Vendor Risk Management Professional
This role will be responsible for leading the management of third-party risks across the organisation. The successful candidate will report to the Procurement Manager and play a key part in delivering strategic goals enabling collaboration across functional teams.
Main Responsibilities:
* Lead and implement centralised risk management processes for new and existing vendors/suppliers.
* Conduct thorough risk assessments for all vendors/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 regulatory requirements such as DORA, outsourcing, and operational resilience.
* Liaise with external parties to facilitate onboarding and compliance tasks.
* Maintain an accurate inventory of vendors/suppliers using JIRA, documenting onboarding stages and assigning monitoring tasks based on risk ratings.
* Ensure annual re-assessments for high-risk vendors/suppliers are completed.
* Risk Monitoring & Oversight:
o Annually review and update risk tiers for active suppliers in JIRA.
o Monitor vendor/supplier performance with contract owners based on risk ratings and contractual obligations.
o Conduct biannual reviews of high-risk vendors/suppliers and monthly samples of medium-risk vendors/suppliers.
o Meet quarterly with Contract owners to assess compliance with the Third-Party Risk Management Policy.
o Escalate discrepancies or missed deadlines to relevant department heads.
* Report non-compliance issues to the Procurement Manager.
* Identify potential risks for inclusion in the organisational Risk Register.
* Vendor Offboarding:
o Coordinate offboarding with Contract Owners.
o Ensure completion of offboarding questionnaires and assigned tasks.
o Request removal from payment systems once all invoices are settled.
o Ensure Contract owners manage third-party vendors/suppliers according to regulatory and internal policy requirements.
Key Skills and Qualifications:
* Bachelor's degree in Business Administration, Risk Management, or related field.
* Minimum 5 years' experience in risk management, preferably in a procurement environment.
* Strong analytical and problem-solving skills.
* Excellent communication and stakeholder management skills.
* Able to work effectively in a fast-paced environment and meet deadlines.
Benefits:
The successful candidate will have opportunities to develop their career in a dynamic and growing organisation. We offer a competitive salary package and excellent benefits.
Others:
Please note that this is a unique opportunity to join a forward-thinking organisation and contribute to shaping our risk management strategy.