Vendor Risk Management Analyst

Primary Purpose :

The Vendor Risk Analyst is responsible for the identification, assessment, monitoring, and reporting of risks associated with outsourcing products and services to third-party vendors. The Vendor Risk Analyst partners with the VRM Manager and lines of business to execute key department activities including vendor risk classification, due diligence, contract structuring, onboarding, and periodic oversight and monitoring activities while collaborating with vendor relationship owners and third-party vendors to support departmental goals and objectives.

Essential Responsibilities :

• Coordinates vendor risk lifecycle activities with internal vendor owners, specialist area partners (Information Security, Compliance, Business Continuity, and Legal), and external third parties to obtain documentation and facilitate timely task completion.
• Performs risk assessment and due diligence review activities (financial analysis, reputational monitoring, and operational control environment reviews), with minimal input from VRM Manager, exercising the appropriate amount of critical thinking and risk analysis rigor for an assigned portfolio of vendor relationships.
• Develops and delivers completed review reports, with minimal input from VRM Manager.
• Performs administrative and regulatory review of contracts and other legal documents, with minimal management supervision.
• Maintains vendor inventory, vendor files, program software, due diligence artifacts, and related documentation.
• Identifies vendor risk events, changes, and issues and report on findings, with modest input from VRM Manager.
• Collaborates with VRM Manager to analyze vendor performance, identifiable risk, exceptions, and risk mitigation plans.
• Maintains VRM Policy, Standards, Procedures, and other risk-focused program documentation with modest input from VRM Manager.
• Applies a strong knowledge of regulatory requirements and industry best practices.
• Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
• Other duties as assigned

Minimum Required Skills & Competencies :

Desired Skills & Competencies :

Physical Requirements :

#LI-LP1

Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities

This 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.