Third Party Vendor Risk Analyst

Overview

Hybrid
Depends on Experience
Contract - W2
Contract - 5 Month(s)

Skills

CBCP Certified
Supply Chain

Job Details

Position: Third Party Vendor Risk Analyst
Location: Springfield, MA - Hybrid (Onsite 3 days/week)
Job Type: Contract
Duration: 5 months to start

Job Description

This role focuses on conducting comprehensive risk assessments of new and existing vendors, evaluating areas such as financial stability, data security, and regulatory compliance. Responsibilities include managing the risk acceptance process for high-risk vendors, ongoing monitoring and reporting of vendor risk profiles, and collaborating with internal departments to ensure effective risk mitigation. The ideal candidate has strong analytical skills, experience in vendor risk evaluation, and proficiency in risk management tools.
Primary Responsibilities
Vendor Risk Assessment (40% of time)

  • Conduct risk assessments of ALL new and existing vendors in compliance with company standards.
  • Analyze vendors' financial stability, business continuity, IT Disaster Recovery, data security measures,regulatory compliance, and operational capabilities.
  • Develop detailed risk profiles for vendors and classify them according to risk levels.
  • Document and report findings to the enterprise risk management and purchasing departments.

Facilitate Vendor Risk Acceptance Process (20% of time)

  • Facilitate the management of the risk acceptance process for all high-risk vendors.
  • Prepare and present risk acceptance documentation for internal review.
  • Track and document risk acceptance decisions and ensure follow-up actions are implemented.
  • Internally share information of vendors who demonstrate medium/high risk and those who have beengranted risk acceptance.

Ongoing Monitoring and Reporting (20% of time)

  • Continuously monitor the performance and risk profiles of active vendors.
  • Generate regular reports and dashboards on vendor risk status and key risk indicators.
  • Track compliance with risk mitigation plans and ensure prompt resolution of identified issues (if required).
  • Maintain a centralized repository of vendor risk assessments and risk acceptance decisions.

Internal Collaboration and Support (20% of time)

  • Work closely with procurement, legal, IT, Cyber and other relevant departments to ensure a cohesiveapproach to vendor risk management.
  • Provide support and training to internal teams on vendor risk management processes

Required Qualifications/Education

  • Excellent analytical, organizational, and project management skills
  • Proficiency in risk management software and tools; experience preparing presentations/Data analytics
  • Bachelor s degree in Business, Finance, Risk Management or another related field

Preferred Qualifications/Education

  • Experience evaluating vendors, including from a risk management standpoint
  • Professional certifications such as Certified Business Continuity Professional (CBCP), or ICS/NIMS
  • Experience in the financial services or technology sectors
  • Experience with Moody s Supply Chain Catalyst module, Archer GRC Tool and Asana or similar workmanagement software
  • Master s Degree
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