Vendor Risk Management Specialist

2 weeks ago


Minneapolis, Minnesota, United States Russell Tobin & Associates Full time



Position Overview: Risk Vendor Manager

Our client, a distinguished financial services firm, is in search of a Vendor Manager specializing in risk management, operating on a hybrid work model.

Contract-to-Hire | W2 Non-Exempt

Hybrid - 3 days a week in office

Compensation: $62.00 per hour, based on experience

This role is integral to a well-established vendor management team, focusing on fostering essential business relationships with partners across the organization. The successful candidate will serve as a subject matter expert in vendor and risk management, demonstrating exceptional communication abilities, strategic leadership in vendor management practices, risk mitigation, and ensuring compliance with contractual obligations. The ideal individual will thrive in a dynamic environment and possess the capability to collaborate effectively across various functions.

Key Responsibilities:

• Oversee the entire vendor lifecycle, including onboarding, monitoring, and issue resolution, ensuring adherence to the Interagency Guidance on Third-Party Relationships: Risk Management.

• Cultivate and maintain relationships with Business Partners and Third-party Vendors to align with business needs in the delivery of services and products.

• Engage in sourcing and procurement activities related to new contracts, renewals, and amendments, providing guidance to mitigate potential risks.

• Collaborate with Business Partners and vendors on risk management deliverables to ensure compliance with Enterprise, Bank, and Regulatory standards.

• Fulfill reporting obligations as required.

• Gather data to create vendor scorecards that monitor performance, addressing areas needing improvement directly with vendors, and overseeing remediation efforts.

• Continuously update the Vendor Management Tool and Archer with vendor requirements, risk assessments, questionnaires, performance metrics, and supporting documentation.

• Lead governance meetings focused on service level metrics and issue management, contributing to the ongoing evaluation of service quality.

• Participate in Vendor Risk Assessment discussions and manage all follow-up actions with vendors.

• Conduct governance meetings with business lines and vendors.

• Address third-party vendor issues and communicate effectively within the organization.

Qualifications:

• Bachelor's degree with 3-5 years of experience in third-party risk management.

• Demonstrated expertise in third-party risk management principles.

• Comprehensive understanding of banking products and services.

• Excellent communication and influencing skills at senior leadership levels.

• Proactive self-starter capable of managing a demanding schedule and meeting deadlines.

• Proficient in Excel, with experience in Word, PowerPoint, and Teams.

Russell Tobin & Associates offers eligible employees comprehensive healthcare benefits, including medical, dental, and vision plans, along with supplemental coverage options, retirement savings plans, life and disability insurance, and various employee discounts with preferred vendors.

#CB

#LI-AT1

Rate/Salary: $54-$62/hour based on experience



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