JOB SUMMARY

Responsible for supporting all activities of the third-party vendor risk management program. This includes the oversight of Vendor Management processes, system administration, audit follow up and metrics-reporting.  Will work with all levels of management in directing and following the vendor risk management policies and procedures.  This role comprises the tactical execution of the day-to-day activities.

ESSENTIAL FUNCTIONS

• Responsible for the performing of vendor risk assessment for all new potential suppliers in accordance to company’s established standards.
• Proactively identify risks in processes, departments and vendors and assist with developing and implementing controls to mitigate the risks. Make recommendations to reduce or control both external and internal risk.
• Collaborates with contract administrators to request required due diligence documentation for all new suppliers and for ongoing due diligence for all existing suppliers in accordance with our policies.
• Assesses and documents the sufficiency of due diligence documentation received from suppliers, including engaging with subject matter experts where appropriate.
• Provides guidance related to our standards and their application to specific supplier engagements, including recommendations with respect to potential risk mitigates-remediation plans.
• Propose and develop corrective action plans for supplier performance, financial or business process deficiencies.
• Ensures the timely update and maintenance of all supplier information and documentation.
• Act as an operations resource in the development of process improvements, with a focus on helping to identify areas where changes can reduce the potential for errors and mitigate risks.
• Provide periodic training to the teams related to the Vendor Risk Management Program and monitoring processes.
• Provide additional monitoring, analysis and reporting on other risk areas that impact the company.
• Along with the Procurement Team, determine which third party vendors are required to support the business.  Evaluate new vendor and apply a risk rating methodology. 
• Coordinate vendor due diligence and on-boarding including contract completion.  Ensure that oversight activities for the Company’s vendors are appropriately initiated.
• Coordinate the completion of initial and periodic risk assessments across vendors.
  Implement and monitor vendor risk indicators including risks and incidents for escalation to management and steps toward risk remediation.
• Maintain and update policies, procedures and best practices for management of vendor performance and associated risk.
• Implement vendor risk management program requirements, policies and procedures to risk rate enterprise vendors using the defined Vendor Management Risk methodology.  
• Work with management on risk management activities including but not limited to risk assessments, gap analysis, process improvements, model risk activities, audits and exams.
• Provides support to management as needed.  This might include but is not limited to, special projects, backup for other areas and temporary assignments.

EDUCATION

Bachelor’s Degree in Business Administration or Bachelor of Arts Degree, with one (1) to three (3) years of experience in the healthcare industry, preferable.

LICENSES AND CERTIFICATIONS

COMPETENCIES