Sr. Third Party Risk Consultant (Due Diligence)

Target • Minneapolis, MN

6d • $73,000 - $132,000 • Hybrid

About The Position

A role in Third Party Risk Management means enabling Target’s business to make informed, risk-aware decisions while advancing key business objectives. This role primarily supports third-party due diligence and ongoing monitoring while contributing to broader TPRM initiatives based on business priorities. You’ll help protect Target’s interests by ensuring we understand, evaluate, and mitigate risks associated with third-party partnerships, while promoting Relationship Management best practices across the vendor lifecycle – planning, due diligence, contracting, ongoing monitoring, and termination.

As a Sr. Third Party Risk Management Consultant, you will:

Risk Assessments & Analysis
Conduct due diligence using established TPRM processes on prospective third parties and reassess on a risk-based schedule, evaluating reputation, experience, and financial health to assign risk tiers (critical/high/medium/low).
Analyze third party risks and provide expert recommendations that enable Relationship Managers to make informed, risk-aware business decisions.
Evaluate financial health information – including data from external monitoring tools, financial statements, and credit information – to identify potential financial risks and support risk-based decision making.
As needed, lead risk assessment meetings with RMs to explain results and advise on interpretation and next steps.
Develop and maintain a broad understanding of the end-to-end TPRM Risk Assessment process, with the ability to support risk assessments across a variety of third-party services, including coordinating with multiple Risk Program Owner (RPO) teams throughout Target.

Ongoing Monitoring
Monitor ongoing third-party risks through TPRM tools, including changes in financial condition, external events, and other risk indicators.
Investigate material risk alerts and communicate potential impacts and recommended actions to Relationship Managers.
Maintain risk reporting and dashboards that support ongoing visibility into third-party risk.

Program Enablement & Continuous Improvement
Identify opportunities to improve TPRM processes, tools, and methodologies by leveraging data, industry trends, and stakeholder feedback to enhance program effectiveness.
Provide subject matter expertise to Relationship Managers, peers, and cross-functional stakeholders across a broad range of third-party risk topics, including financial health, reputation, experience, and other risks identified throughout the vendor lifecycle.
Work independently with minimal direction, exercising sound judgment while handling sensitive information.
Foster a positive team culture grounded in Inclusivity, Connection, and Drive.

Core responsibilities of this job are described within this job description. Job duties may change at any time due to business needs.

Requirements

• Four-year degree or equivalent experience
• 3+ years of experience in third-party risk management, financial risk, procurement, vendor management, or a related field.
• Comfortable working in ambiguity and adjusting to shifting business needs
• Strong analytical skills with the ability to synthesize qualitative and quantitative information into risk-based recommendations.
• Effective communication skills with the ability to explain complex topics clearly and simply
• Ability to simplify complex processes and focus on high-impact, strategic priorities
• Skillful in handling confidential information with discretion
• Proficient in enterprise tools (LogicGate, Ariba, Supplier Management, Vendor Maintenance and Management, Domo, Confluence) and Microsoft Office
• Proven ability to lead projects, facilitate meetings, and contribute to cross-functional teams
• Experience identifying process improvements and supporting automation efforts
• Results-driven with a demonstrated history of executing on goals and timelines

Nice To Haves

• Certified Regulatory Vendor Program Manager (CRVPM), Certified Third-Party Risk Professional (CTPRP) designation or equivalent
• Experience performing supplier financial assessments and ability to interpret balance sheets, income statements, cash flow statements and key financial ratios to identify potential third-party financial risks.

Responsibilities

• Conduct due diligence using established TPRM processes on prospective third parties and reassess on a risk-based schedule, evaluating reputation, experience, and financial health to assign risk tiers (critical/high/medium/low).
• Analyze third party risks and provide expert recommendations that enable Relationship Managers to make informed, risk-aware business decisions.
• Evaluate financial health information – including data from external monitoring tools, financial statements, and credit information – to identify potential financial risks and support risk-based decision making.
• As needed, lead risk assessment meetings with RMs to explain results and advise on interpretation and next steps.
• Develop and maintain a broad understanding of the end-to-end TPRM Risk Assessment process, with the ability to support risk assessments across a variety of third-party services, including coordinating with multiple Risk Program Owner (RPO) teams throughout Target.
• Monitor ongoing third-party risks through TPRM tools, including changes in financial condition, external events, and other risk indicators.
• Investigate material risk alerts and communicate potential impacts and recommended actions to Relationship Managers.
• Maintain risk reporting and dashboards that support ongoing visibility into third-party risk.
• Identify opportunities to improve TPRM processes, tools, and methodologies by leveraging data, industry trends, and stakeholder feedback to enhance program effectiveness.
• Provide subject matter expertise to Relationship Managers, peers, and cross-functional stakeholders across a broad range of third-party risk topics, including financial health, reputation, experience, and other risks identified throughout the vendor lifecycle.
• Work independently with minimal direction, exercising sound judgment while handling sensitive information.
• Foster a positive team culture grounded in Inclusivity, Connection, and Drive.

Benefits

• Comprehensive health benefits and programs, which may include medical, vision, dental, life insurance
• 401(k)
• Employee discount
• Short term disability
• Long term disability
• Paid sick leave
• Paid national holidays
• Paid vacation

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree