Selby Jennings is partnered with a leading financial services firm that provides institutional and retail customers with access to a wide range of financial markets and services. With a rich history spanning several decades.
This individual will play a pivotal role in developing and implementing our Vendor Risk Program. This is a highly influential position that offers global reach and extensive exposure to our executive team, including regular interactions with the Board of Directors. You will be responsible for managing vendor relationships, assessing potential risks associated with external partners, and devising strategies to ensure the resilience and security of our vendor ecosystem.
Key Responsibilities
- Vendor Risk Program Development: Collaborate with cross-functional teams to build out a robust Vendor Risk Program that aligns with industry best practices and regulatory requirements.
- Risk Assessment and Mitigation: Conduct thorough risk assessments of existing and prospective vendors to identify potential vulnerabilities and develop risk mitigation plans.
- Vendor Due Diligence: Perform in-depth due diligence on vendors to assess their financial stability, security protocols, and overall risk profile.
- Contract Review and Negotiation: Review vendor contracts to ensure compliance with risk management standards and negotiate favorable terms when necessary.
- Vendor Performance Monitoring: Establish a monitoring framework to continuously evaluate vendor performance and adherence to contractual obligations and risk mitigation measures.
- Vendor Incident Response: Collaborate with relevant stakeholders to develop an incident response plan and coordinate actions in the event of a vendor-related security breach or disruption.
- Stakeholder Communication: Regularly communicate vendor risk-related matters to executive leadership and the Board of Directors, providing insights and recommendations to support strategic decision-making.
- Regulatory Compliance: Stay abreast of industry trends, regulatory changes, and best practices related to vendor risk management to ensure the program remains up-to-date and compliant.
Qualifications and Skills
- Bachelor's degree in Business, Finance, Risk Management, or a related field. Advanced degrees or certifications (e.g., CRISC, CISA, CISM) are a plus.
- Proven experience in vendor risk management, third-party risk assessments, or related fields within the financial services industry.
- Strong understanding of risk management principles, regulatory requirements, and best practices.
- Excellent analytical and problem-solving skills, with a keen eye for detail.
- Outstanding communication and interpersonal abilities to engage with stakeholders at all levels, including senior management and the Board of Directors.
- Ability to work collaboratively in a fast-paced, dynamic environment, and manage multiple initiatives simultaneously.
- Demonstrated project management skills and the ability to drive projects to completion.
- Familiarity with global vendor management and risk assessment would be advantageous.
