Vendor Risk Management Specialist

Valley National Bank
Morristown, United States
Permanent
Full-time

Responsibilities

include, but are not limited to :

Review third party vendor risk assessments to identify quality of risk mitigation controls and work with the Contract Owners / Relationship Managers to address deficiencies.

Additionally, work with Subject Matter Experts (SMEs) to evaluate vendor responses.

  • Analyze data and assess financial, anti-corruption, reputational and OFAC risks in order to identify impacted business departments, cross-department processes, and facilitatemunications and ongoing implementation support with affected parties.
  • Work with Contract Owners / Relationship Managers as necessary including follow-ups to ensure all risk assessments arepleted in accordance with VMO policy.
  • Provide rmendations and best practices to Contract Owners / Relationship Managers pertaining to vendor management processes, activities and requested actions.
  • Maintain and enhance where applicable the reporting framework to monitor, measure and report on vendor performancepared to contractual obligations and industry standards.
  • Provide initial and on-going due diligence review on third party vendors to ensure risk are identified and applicable standards, and Vendor Management Office (VMO) policies are being followed.
  • Collaborate with other SMEs to review third party vendor related risks and address findings and / or systemic issues with the third-party vendor, and, as applicable, request process improvements and / or changes.
  • Identify, track and report third party vendors requiring onsite assessments, work with the Contract Owners / Relationship Managers to schedule the same, draft necessary documents and participate onsite assessments.

Requirements

Required Skills :

  • Experience in stakeholder engagement at different levels of an organization.
  • Highly detail oriented and critical thinking skills.
  • Working knowledge of risk management best practices and / or principles.
  • Ability to effectively respond to shifting priorities and assignments.
  • Well-organized and detail oriented.
  • Ability to meet deadlines and expectations with little or no supervision.
  • Excellent oral and writtenmunication skills.
  • Ability to effectively respond to shifting priorities and assignments.
  • Proficient PC skills in Microsoft Office suite Word, Excel, and PowerPoint.

Required Experience :

Bachelor's Degree in Business, Finance, Economics, Statistics, or related business degree and a minimum of 5 years of experience in vendor risk management, operational / enterprise risk management, or related risk management experience.

Job ID 24-662

30+ days ago
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