Job Description

Job Summary: The Third-Party/Vendor Risk Management Officer will be responsible for assessing, monitoring, and mitigating risks associated with external vendors and service providers. This role will ensure that all third-party relationships align with the company's risk appetite, regulatory requirements, and security policies.

Key Responsibilities:

• Conduct comprehensive risk assessments for new and existing vendors, evaluating financial stability, cybersecurity, compliance, and operational risks.
• Collaborate with procurement, legal, IT security, and compliance teams to ensure thorough vendor due diligence.
• Maintain an updated inventory of vendors, categorizing them based on risk level and business impact.
• Develop and implement a vendor risk management framework, policies, and procedures.
• Monitor vendor performance and adherence to contractual obligations, regulatory requirements, and security standards.
• Perform periodic vendor audits and assessments to ensure compliance with company policies and industry best practices.
• Prepare detailed risk reports and present findings to senior management and relevant stakeholders.
• Track and document risk mitigation efforts, ensuring timely resolution of identified vendor-related risks.
• Maintain accurate and comprehensive records of all vendor interactions, assessments, and risk evaluations.
• Work closely with internal teams to develop vendor risk awareness and training programs.
• Provide guidance and recommendations for vendor selection, contract negotiations, and risk mitigation strategies.
• Serve as a subject-matter expert on third-party risk management, staying updated on regulatory changes and industry trends.

Qualifications:

• Bachelor’s degree in Business, Finance, Risk Management, or a related field.
• Minimum of 3 years of experience in vendor risk management, third-party risk, compliance, or a related function.
• Strong knowledge of regulatory frameworks, including GDPR, FFIEC, OCC, and other industry-specific guidelines.
• Experience with risk assessment tools, vendor management platforms, and contract review processes.
• Excellent analytical, problem-solving, and communication skills.
• Ability to manage multiple priorities in a fast-paced environment.

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