Supplier Risk Management Consultant

At EMC, you'll put your skills to good use as an important member of our team. You can count on gaining valuable experience while contributing to the company's success.

EMC strives to hire and retain the best people by engaging, developing and rewarding employees.

JOB SUMMARY

Develops and implements a comprehensive supplier risk assessment framework to manage and mitigate risks associated with suppliers.

Leads thorough risk assessments during the onboarding of new suppliers and ongoing monitoring of existing ones, ensuring appropriate due diligence documents are reviewed and stored appropriately.

Designs and leads control measures to enhance risk mitigation throughout the supplier lifecycle and coordinate with various business units to address identified risks.

Assists in selecting, implementing and maintaining supplier risk management software and other technology tools to streamline processes.

Develops key performance indicators and reporting mechanisms to monitor the program’s effectiveness, providing documentation and analysis of risk assessments and mitigation strategies.

Updates and enforces policies and procedures to ensure compliance with industry standards and regulatory requirements. Provides training and guidance to internal stakeholders.

Monitors and evaluates effectiveness of supplier risk management practices to ensure EMC remains compliant and protected against supplier risks.

ESSENTIAL FUNCTIONS

Risk Assessment and Mitigation

Develops and implements the comprehensive supplier risk assessment framework and processes designed to govern and reduce inherent risk of suppliers and related services and / or products to an acceptable residual level

Partners closely with Procurement team to ensure collaboration in designing and executing an efficient process in evaluating risk within contractual documents and relationships with suppliers

Leads thorough risk assessments while onboarding new suppliers. Completes periodic ongoing monitoring of suppliers, products, and / or services on a risk-adjusted basis

Ensures all required onboarding and ongoing risk-based due diligence documents are saved in the document repository and have undergone proper subject matter expert (SME) reviews, including a review of the supplier’s control environment as it relates to the services provided, financial condition, reputation, operational capability, technology and systems architecture, information security, business continuity, and use of artificial intelligence, as applicable

Leads the risk review of new contract submittals, ensuring that contract language is within EMC’s established risk tolerances, and partners with Legal team to draft language that is acceptable to EMC

Drives resolution of program escalations, exceptions, and non-compliance events in accordance with policy requirements as appropriate

Supplier Risk Management Software

Consults and collaborates with Procurement team regarding the selection, implementation, and maintenance of a departmental supplier risk management software program

Participates in evaluating and recommending software and technology tools to enable more efficient supplier risk management, and issue and dispute management

Leads development and administration of supplier risk management software and maintains process flows that are intuitive and efficient

Addresses questions from business partners regarding supplier risk management process or system questions and escalates systematic issues to provider(s) as needed

Reporting and Documentation

Develops key measures and performance indicators to help oversee and monitor the execution of the supplier risk management program

Provides clearly documented aggregate supplier risk assessment results, including analyzed risk exceptions. Collaborates with the business unit partners to assist in documenting the appropriate action plans to remediate identified risks within acceptable levels

Creates and enhances monitoring and reporting presented to the Supplier Management Committee and other risk committees, as necessary, to demonstrate policies and procedures are in place and operating effectively to reduce the risks to EMC

Policy Development and Compliance

Develops, updates, and enforces supplier risk management policies and procedures aligned with industry best practices and regulatory requirements

Ensures suppliers comply with company policies and guidelines, industry standards and regulatory requirements

Provides training and guidance to internal stakeholders on supplier risk management practices

The education and experience below are required for the job unless labelled as preferred :

Bachelor’s degree, preferably in finance, business administration, internal audit, risk management, or related field, or equivalent relevant experience

Seven years of experience in supplier / third-party risk management or related experience

Prior project management experience preferred

Prior property and casualty insurance experience preferred

Relevant industry certifications or designations preferred

KNOWLEDGE, SKILLS & ABILITIES

COMPETENCIES

Excellent knowledge of each stage of the supplier lifecycle

Excellent knowledge of risk management processes and techniques

Ability to collaborate with and build relationships with stakeholders at all levels

Excellent written and verbal communication skills

Strong knowledge of insurance practices and disciplines preferred

Ability to lead training for business units

Excellent analytical, investigative, and problem-solving abilities

Ability to continuously identify and execute improvement opportunities

Strong attention to detail, multi-tasking, organizational, and project management skills

Ability to exercise discretion and maintain confidentiality of sensitive information

Models Trust & Integrity

Builds Effective Relationships

Demonstrates Resilience

Embraces Inclusivity