Job description
Job Title: Vendor Management Analyst
Job Summary
Seeking a dedicated and detail-oriented Vendor Management Analyst with expertise in risk management. This role involves overseeing vendor relationships and ensuring all third-party partnerships align with the organization’s risk tolerance, policies, and standards. The position focuses on building strong collaborations, mitigating risks, and driving operational excellence across vendor agreements. This role is critical in supporting compliance and efficiency in vendor management.
Responsibilities
- Develop and implement metrics and processes to evaluate vendor performance and adherence to service-level agreements (SLAs).
- Identify, assess, and mitigate potential risks associated with vendor relationships, ensuring compliance with applicable regulations and company standards.
- Collaborate with department stakeholders to understand vendor needs and select reliable partners that align with organizational objectives.
- Conduct periodic vendor audits and due diligence to evaluate financial health, compliance records, and operational effectiveness.
- Ensure proper documentation of contracts, risk assessments, and other relevant vendor records.
- Partner with legal and procurement teams to negotiate contracts that mitigate risks and enhance value.
- Track and report on vendor-related KPIs, risks, and overall program performance to executive leadership.
- Serve as a central point of contact for vendor issues, escalations, or collaborations that require senior-level insights.
- Stay current on industry trends, regulations, and best practices in vendor management and risk assessment.
- Facilitate onboarding and offboarding procedures for vendors, ensuring a seamless transition and continuous alignment with company practices.
Qualifications/Requirements
- Bachelor’s degree in Business Administration, Supply Chain Management, Finance, or a related field.
- 3+ years of experience in vendor management, risk management, or a similar role.
- Strong knowledge of vendor sourcing, evaluation, and risk mitigation strategies.
- Familiarity with compliance requirements, regulatory frameworks, and risk management best practices.
- Exceptional analytical and problem-solving abilities with a keen attention to detail.
- Robust interpersonal and communication skills, capable of managing relationships with vendors as well as internal and external stakeholders.
- Advanced proficiency in vendor management tools, procurement systems, and Microsoft Office Suite.
- Ability to multitask, prioritize responsibilities, and work collaboratively within a team.
- A proactive mindset with the ability to anticipate risks and propose solutions effectively.
Preferred Qualifications
- Professional certification in risk management or supply chain management (e.g., CRMA, CIPS, or CPSM).
- Experience in working with diverse and global suppliers.
- Excellent project management skills and experience handling cross-functional teams.
Disclaimer: Please note that this job description may not cover all duties, responsibilities, or aspects of the role, and it is subject to modification at the employer's discretion.
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