What are the responsibilities and job description for the Third-Party Vendor, Product & Service Risk Manager position at Vialto Partners?

Vialto Partners is a market leader in global mobility services. Our purpose is to 'Connect the world'. We are unique and the only stand-alone global mobility business. This presents a rare opportunity for our clients, stakeholders and colleagues.

Our teams help companies streamline and effectively manage their global mobility programs in a cost-efficient and compliant manner. Our services focus on providing cross-border compliance and risk assessment for tax, immigration, business travel, rewards and compensation, and remote work.

Working at Vialto Partners is about getting the chance to be part of a global and dynamic team. Globally, Vialto Partners has over 6,500 staff worldwide and continues to grow. You will work with clients from a range of industries and different geographical locations. We believe in connecting the world and supporting our colleagues to do the same in their careers by undertaking assignments and opportunities globally that broaden their skills and ultimately benefit our clients.

Vialto is unstoppable when we work together in a culture of belonging, where everyone can thrive. We encourage employees to bring their true selves and share their unique talents and expertise to positively impact the communities we serve.

To learn more about what we do, tune in to our podcast On the Move to hear expert insights on issues affecting global mobility, and read about the latest news in the industry. You can also follow us on LinkedIn and Instagram.

Role Overview

The Third-Party Vendor Product & Project Risk Manager plays a crucial role in managing and mitigating risks associated with third-party vendors, new products, and services throughout their lifecycle. This role focuses on identifying, assessing, and mitigating risks related to third-party relationships, and ensuring that product and services deliverables meet regulatory, operational, and contractual standards. The role requires close collaboration with cross-functional teams to effectively manage third-party risks, along with new product and service risks, from contract initiation through delivery and ongoing performance.

Key Responsibilities

Vendor Risk Assessment and Management

Lead risk assessments for third-party vendors, focusing on product and service risks, including operational, financial, and reputational risks associated with the product or service.
Conduct thorough due diligence on vendors and their products, focused on their ability to meet project requirements and compliance standards and assessing the quality of their services
Develop and maintain a risk management framework to address third-party risks associated with new and existing vendors.
Collaborate with procurement, legal, and compliance teams to align risk assessments with business needs and regulatory requirements.

Project and Product Risk Management

Assess risks related to third-party products and project timelines, ensuring adherence to quality standards and regulatory compliance.

Monitor and track project milestones and product deliverables, identifying any risks or delays that may impact delivery or operational efficiency.

Work with project managers and product teams to implement risk mitigation strategies throughout the lifecycle of a product or project.

Verify that vendors deliver products or services according to agreed-upon specifications, timelines, and quality standards.

New Product and Service Risk Management

Assess risks related to new products and services, ensuring adherence to quality standards and regulatory compliance.

Monitor and track project milestones and product deliverables, identifying any risks or delays that may impact delivery or operational efficiency.

Work with project managers and product / service teams to implement risk mitigation strategies throughout the lifecycle of a product or project / service.

Confirm that products or services are delivered in accordance with agreed parameters and quality standards.

Contractual Risk Management

Review and analyze vendor contracts to verify the inclusion of risk management, addressing aspects such as product quality, data security, liability and intellectual property rights.

Collaborate with legal teams to align risk clauses in contracts with corporate risk tolerance and compliance standards.

Manage the process of renegotiating contracts or managing vendor performance in cases where risk thresholds are exceeded.

Cross-Functional Collaboration

Collaborate with internal stakeholders, including IT, legal, finance, and operations, to address risks related to third-party products and projects.

Work closely with business leaders to confirm that third-party vendors meet product and project expectations while effectively managing associated risks.

Provide risk assessments, reports, and updates to senior management on vendor performance, product / project risks, and mitigation plans.

Reporting and Monitoring

Establish and maintain risk reporting systems to monitor third-party vendor risks, including product and project delivery risks.

Regularly report to senior management on the status of third-party risks, ensuring that mitigation actions are tracked and effective.

Monitor key performance indicators (KPIs) related to vendor risk management and continuously improve the risk management process.

Qualifications

Bachelor's degree in risk management, Business Administration, or a related field or similar relevant experience.

Competencies

Strong analytical and problem-solving skills, with the ability to assess complex risks and identify effective mitigation strategies.

Excellent communication and interpersonal skills, with the ability to influence stakeholders at all levels.

Ability to prioritize and manage multiple projects simultaneously in a fast-paced environment.

Strong attention to detail and ability to manage contracts and vendor relationships effectively.

Knowledge of supply chain, product development, and IT risk management is preferred.

Additional Information

Remote Opportunity

We are an equal opportunity employer and do not discriminate based on any legally protected status. Please note that AI is used as part of the application process.

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Third-Party Vendor, Product & Service Risk Manager

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