Vendor Risk Analyst

John Marshall Bank•Reston, VA

21h•Onsite

About The Position

John Marshall Bank is looking for a Vendor Risk Analyst who will assist in the assessment and monitoring of risks associated with third-party vendors. This person will facilitate risk classification, the due diligence process and promote overall regulation compliance. Additionally, this person will provide support to vendor relationship owners, as needed.

Requirements

Bachelor’s degree or equivalent experience
Minimum of 3 years’ experience in vendor management, procurement, and contract administration.
Strong communication and relationship management skills
Knowledge of SOX vendor regulations, and industry best practices.
Ability to manage multiple projects and prioritize tasks effectively in a fast-paced, high-volume environment
Proficiency in Microsoft Office Suite.
In office position - must be within commuting distance to Reston, VA

Nice To Haves

Bachelor’s degree in Business, Banking, Supply Chain Management or a related field
Experience with N-Contracts Platform
Attention to detail and a high level of organizational skills.
Ability to build and maintain positive relationships with vendors and internal stakeholders.
Strong analytical and problem-solving skills.

Responsibilities

Evaluate vendor performance based on quality, price, delivery, and responsiveness.
Monitor vendor activities and ensure compliance with contract terms, policies, and procedures.
Communicate vendor performance issues and potential contract risks to appropriate stakeholders.
Support contract owners in establishing and maintaining strong relationships with vendors.
Assist contract owners in developing and implementing strategies for selecting and managing vendors to optimize cost-effectiveness and efficiency.
Support contract owners in researching and negotiating favorable terms, pricing, and agreements with vendors.
Assist contract owners in reviewing contracts.
Maintain a database of all vendor contracts and related documentation.
Ensure contracts are compliant with internal company policies.
Track key contract dates (renewals, terminations, etc.) and take proactive action.
Ensure timely and accurate execution of contracts, including renewals and amendments.
Collaborate with finance, accounting and risk management teams to review terms and conditions for compliance and risk management.
Ensure all vendor activities are aligned with regulatory, legal, and organizational requirements.
Conduct vendor audits and performance evaluations to mitigate risks and identify areas of improvement.
Develop and support policies and procedures for vendor selection, monitoring, and termination.
Track contract-related risks, ensuring liabilities are minimized.
Provide regular reports on vendor performance and contract status.
Analyze vendor data to identify trends, risks, and opportunities for improvement.
Maintain accurate records and documentation of all vendor interactions, negotiations, and contract activities.