Vendor Risk Management Specialist

9 hours ago

Cork, Ireland Sanderson Recruitment (Ireland) Limited Full time

Vendor Risk Management Specialist Major Duties and Responsibilities In this role you will report to the Procurement & Contracts Manager and deliver on strategic goals enabling cross-functional collaboration to support business success. Lead centralised third-party risk management processes for all new and existing vendor/suppliers across the organisation. Conduct risk assessments for all vendor/suppliers in accordance with internal policies and standards. Coordinate risk and due diligence activities with internal stakeholders (Contract Owners, IT Security, Privacy, Legal). Support additional assessments for DORA, outsourcing, and operational resilience requirements. Liaise with external parties to facilitate onboarding and compliance tasks. Maintain a comprehensive vendor/supplier inventory using JIRA, documenting onboarding stages and assigning monitoring tasks based on risk ratings. Ensure annual re-assessments for Tier 1 and critical vendor/suppliers are completed. Contract Monitoring & Oversight Annually review and update risk tiers for all active suppliers in JIRA. Monitor vendor/supplier performance with contract owners based on risk ratings and contractual obligations. Conduct biannual reviews of Critical/High/Elevated vendor/suppliers and monthly samples of medium-risk vendor/suppliers. Meet quarterly with Contract owners to assess compliance with the Third-Party Risk Management Policy. Escalate discrepancies or missed deadlines to relevant department heads. Report non-conformance to the Procurement & Contracts Manager. Flag potential risks for inclusion in the organisational Risk Register. Vendor/supplier Offboarding Coordinate vendor/supplier offboarding in collaboration with Contract Owners. Ensure completion of offboarding questionnaires and assigned tasks. Request vendor/supplier removal from payment systems once all invoices are settled. Ensure Contract owners manage third party vendor/suppliers in line with regulatory and internal policy requirements. Collaborate on project initiatives as needed. Maintain and annually review the Third-Party Risk Management Policy and SOPs. Develop and update training materials for Contract owners, ensuring annual training is delivered via the internal learning platform. Support audits and regulatory reviews related to third party risk. Internal Contacts: Finance, Compliance, Legal, IT Security, Privacy, Senior Management, and cross-functional teams. External Contacts: Third party vendor/suppliers, external risk management teams, legal advisors, consultants, auditors. Education Requirements Leaving Certificate & Bachelor's Degree Problem Solving & Decision-Making skills Strong communication and interpersonal skills for effective stakeholder engagement. Excellent organisational skills and attention to detail. Deep understanding of risk management frameworks, regulatory compliance, and industry best practices. Accountability This role directly influences vendor/supplier compliance, risk mitigation, and operational resilience. Impact includes vendor/supplier lifecycle management, audit readiness, and adherence to regulatory standards. Operates with limited supervision. Reports to the Procurement & Contracts Manager. Expected to proactively implement KPIs aligned with business objectives. A competitive benefits package and hybrid working are available to the successful candidate. Skills: vendor management supplier management risk management

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