Vendor Management Specialist (Onboarding & Offboarding Focus)

Job Summary

The Vendor Management Specialist is responsible for overseeing the end-to-end lifecycle of third-party vendors, with a primary focus on onboarding new vendors and offboarding existing vendors. This role ensures that all vendors meet organizational, legal, compliance, and operational requirements, while maintaining accurate records and minimizing risk throughout the vendor lifecycle.

Key Responsibilities

Vendor Onboarding

• Coordinate and manage the onboarding process for new vendors from initiation to activation
• Collect and verify required documentation (contracts, compliance forms, tax information, insurance certificates, etc.)
• Conduct due diligence, including risk assessments, background checks, and regulatory compliance reviews
• Collaborate with legal, procurement, finance, and IT teams to ensure all onboarding requirements are met
• Set up vendor profiles in internal systems and ensure data accuracy
• Communicate onboarding status and requirements clearly to vendors and internal stakeholders
• Ensure adherence to company policies, regulatory requirements, and industry standards

Vendor Offboarding

• Manage the structured offboarding process for vendors, including contract termination and closure activities
• Ensure all contractual obligations are fulfilled or properly terminated
• Coordinate with internal teams to revoke system access, retrieve company assets, and close accounts
• Verify final payments, resolve outstanding invoices, and ensure financial reconciliation
• Maintain proper documentation and audit trails for all offboarding activities
• Identify and mitigate risks associated with vendor termination

Vendor Lifecycle Management

• Maintain an up-to-date vendor database and documentation repository
• Track vendor performance, compliance status, and contract timelines
• Support audits and provide reporting related to vendor onboarding/offboarding activities
• Continuously improve onboarding and offboarding processes for efficiency and compliance

Qualifications

• Bachelor’s degree in Business Administration, Supply Chain, Finance, or a related field (or equivalent experience)
• 2–5 years of experience in vendor management, procurement, or third-party risk management
• Strong understanding of vendor lifecycle processes, compliance, and risk management
• Experience with vendor management systems or ERP platforms (e.g., SAP, Oracle, Coupa)
• Excellent organizational skills and attention to detail
• Strong communication and stakeholder management skills

Preferred Skills

• Knowledge of regulatory requirements (e.g., data privacy, financial compliance)
• Experience with contract management and legal documentation
• Ability to manage multiple vendors and deadlines simultaneously
• Process improvement mindset and problem-solving skills

Key Competencies

• Attention to detail
• Risk awareness
• Process management
• Communication and collaboration
• Accountability and ownership

Work Environment

• Typically office-based or hybrid
• Cross-functional collaboration with procurement, legal, finance, IT, and compliance teams