Third-Party Risk Analyst

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Strategic purpose of the position:
The Third-Party Risk Analyst (TPRM Risk Analyst) is responsible for overseeing the due diligence process for the company's key suppliers and vendors. This role is part of the Procurement function and the procurement excellence team. The analyst will evaluate the financial, operational, compliance, and reputational risks of potential and existing suppliers, and implement processes and procedures to ensure thorough vetting and continual monitoring of their performance and risk profile. Job responsibilities:

 

  • Develop and maintain a comprehensive supplier due diligence program, including policies, procedures, and tools for risk assessment and monitoring
  • Lead cross-functional teams in conducting thorough due diligence reviews of suppliers, including financial health, operational capabilities, legal/regulatory compliance, and ESG factors
  • Analyze due diligence findings to identify and escalate material risks, and recommend strategies for mitigating or managing those risks
  • Collaborate with procurement, legal, and other stakeholders to incorporate due diligence requirements into supplier contracts and onboarding processes
  • Establish key performance indicators and reporting mechanisms to monitor supplier risk and compliance on an ongoing basis
  • Stay abreast of regulatory changes, industry best practices, and emerging supplier risks to continually improve the due diligence program
  • Provide training and guidance to the broader organization on supplier risk management
  • Utilize supplier risk management platforms, such as Altana, to streamline data collection, analysis, and monitoring of supplier risks



Qualifications:

 

  • Bachelor's degree in business, finance, supply chain management, or a related field
  • Minimum 5 years of experience in supplier/vendor management, procurement, or risk management
  • Strong analytical and problem-solving skills, with the ability to interpret data and make risk-based recommendations
  • Excellent communication and interpersonal skills, with the ability to work effectively across multiple functions
  • Familiarity with regulatory frameworks, compliance requirements, and industry best practices related to supplier due diligence
  • Proficient in using data analysis tools and technologies, including supplier risk management platforms like Altana, to support the due diligence process
  • Experience in implementing and managing a supplier risk management program
  • Knowledge of industry-specific regulatory requirements (e.g., healthcare, financial services, etc.)
  • Experience with due diligence software or platforms



Travel Frequency:
10%

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