Senior Risk Specialist, Vendor Management

Senior Risk Specialist

Candidates for the Senior Risk Specialist role plays a critical part in the organization by evaluating and mitigating risks associated with third-party vendors and suppliers. In today's interconnected business environment, companies rely on a network of external partners for products, services, and expertise. This reliance brings opportunities but also introduces complex risksranging from operational disruptions and data breaches to regulatory non-compliance and reputational damage. The Senior Risk Specialist is tasked with ensuring that vendors meet established standards and that risks are identified, assessed, and controlled effectively.

Essential Duties

• Vendor Risk Assessment : Conduct thorough risk evaluations of prospective and current vendors, analyzing areas such as financial health, data security, compliance posture, and operational resilience.
• Ongoing Monitoring : Establish protocols for continuous monitoring of vendors, track performance metrics, contractual compliance, and changes in risk profile.
• Reporting : Document findings in clear, actionable reports for management and other stakeholders, providing recommendations for risk mitigation.
• Policy Development : Help create and update vendor risk management policies and procedures, ensuring alignment with organizational goals and regulatory requirements.
• Collaboration : Work with procurement, legal, IT, and compliance teams to coordinate risk management efforts and share critical information.
• Incident Management : Support vendor-related incidents, including breaches, service failures, or compliance issues, and participate in investigations and remediation planning.

Knowledge, Skills and Abilities

Education and Experience