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Vendor Risk Assessment Jobs in Illinois (NOW HIRING)

GDR Defense

Sourcing Specialist

Chicago, IL · On-site

... Vendor Risk Assessment (VRA), and Procurement Operations to ensure timely contract and purchase order execution. This role is focused on request management, process execution, and compliance ...

Archer Daniels Midland

... vendor oversight. Enterprise Compliance Risk Assessment & Monitoring Lead the design, execution, and continuous improvement of enterprise and regional compliance risk assessments. Develop and ...

Alero Financial

Third Party Risk Manager

Elgin, IL · On-site

$120K - $150K/yr

Ensure adequate development of risk assessments for all new and ongoing third-party relationships ... Coordinate contract reviews with legal, third-party relationship owners, and internal vendor owners.

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Vendor Risk Assessment information

What is a vendor risk assessment?

A Vendor Risk Assessment is a process used by organizations to evaluate and manage the potential risks associated with outsourcing services or products to third-party vendors. The assessment typically examines areas such as data security, regulatory compliance, financial stability, and operational practices of the vendor. Its purpose is to identify potential vulnerabilities or threats that could impact the organization if the vendor fails to meet expectations or is compromised. Regular vendor risk assessments help ensure that third-party relationships do not expose the company to undue risk and that appropriate controls are in place.

What are the key skills and qualifications needed to thrive as a vendor risk assessment professional?

To thrive in Vendor Risk Assessment, you need a solid understanding of risk management principles, third-party due diligence, and regulatory compliance, often supported by a degree in business, IT, or a related field. Familiarity with risk assessment tools, governance frameworks (like ISO 27001), and platforms such as GRC (Governance, Risk, and Compliance) systems is typically required. Strong analytical thinking, attention to detail, and effective communication skills help professionals assess vendor risks and collaborate across departments. These skills are crucial for identifying, mitigating, and communicating risks that could impact an organization’s operations, security, or reputation.

What are some common challenges faced in a vendor risk assessment role, and how can I prepare to address them?

Professionals in Vendor Risk Assessment often encounter challenges such as managing large volumes of vendor data, ensuring compliance with evolving regulations, and effectively communicating risks to both internal stakeholders and vendors. To prepare for these challenges, it's important to develop strong organizational and analytical skills, stay informed about regulatory changes, and build effective communication strategies. Collaborating closely with procurement, legal, and IT teams is also essential for gathering accurate information and implementing risk mitigation measures.

What is the difference between Vendor Risk Assessment vs Vendor Compliance Analyst?

AspectVendor Risk AssessmentVendor Compliance Analyst
Primary FocusEvaluating risks associated with vendors and third-party providersEnsuring vendors comply with policies, regulations, and contractual obligations
CertificationsCertifications like CISSP, CISA, or vendor risk management coursesCertifications such as CCEP, CISA, or compliance-specific credentials
Work EnvironmentRisk management teams, procurement, cybersecurity departmentsCompliance teams, legal, procurement, and audit departments
Industry UsageCommon in finance, healthcare, and IT sectorsPrevalent in regulated industries like finance, healthcare, and manufacturing

Vendor Risk Assessment focuses on identifying and mitigating risks posed by vendors, while Vendor Compliance Analysts ensure vendors adhere to policies and regulations. Both roles are essential for managing third-party relationships but differ in their primary objectives and activities.

What cities in Illinois are hiring for Vendor Risk Assessment jobs?

Cities in Illinois with the most Vendor Risk Assessment job openings:

Vendor Risk Assessment jobs near you

Sourcing Specialist

GDR Defense

Chicago, IL • On-site

Contractor

Re-posted 22 days ago

Job description

Duties: The Sourcing Analyst plays a key role in supporting the procurement process by reviewing purchase requests, routing them through required approvals, and coordinating with Legal, Vendor Risk Assessment (VRA), and Procurement Operations to ensure timely contract and purchase order execution. This role is focused on request management, process execution, and compliance, ensuring that procurement activities run smoothly, accurately, and in alignment with company policies.
Key Responsibilities
Request Processing & Coordination
• Review incoming purchase requests for accuracy, completeness, and compliance with procurement policies.
• Route requests to Legal for contract review and VRA for risk assessment when required.
• Partner with Procurement Operations to ensure timely and accurate creation of purchase orders (POs).
• Track and follow up on request status, proactively managing bottlenecks and escalating issues when needed.
Stakeholder Support & Communication
• Serve as the first point of contact for stakeholders on procurement process questions.
• Provide guidance on request submission requirements and approval workflows.
• Maintain strong communication across Legal, VRA, Proc Ops, and business stakeholders to ensure smooth handoffs.
Documentation & Reporting
• Maintain accurate status and notes of procurement activities, approvals, and documentation in the procurement system.
• Support reporting on request volumes, cycle times, and process metrics to identify areas for improvement.
Compliance & Policy Alignment
• Ensure all procurement activities comply with company policies, internal controls, and regulatory requirements.
• Support sustainable procurement and ethical standards across all transactions.
Education
• Post-secondary education, minimum bachelor's degree.
• Certification in procurement or supply chain (e.g., CPSM, CPSD, CIPS) a plus.
Required Qualifications
• 2+ years of experience in procurement, purchasing, or a related operations role.
• Familiarity with procurement systems and purchase order processes.
• Strong organizational skills with attention to detail and accuracy.
• Ability to manage multiple requests simultaneously in a fast-paced environment.
• Excellent written and verbal communication skills.
Preferred Qualifications
• Experience in a marketing procurement environment is a plus.
• Knowledge of approval workflows involving other teams (cross-functional collaboration).
• Proficiency with procurement platforms, ERP systems, or RFx tools.
Key Competencies
• Process Orientation: Skilled in managing requests through structured workflows.
• Attention to Detail: High accuracy in documentation and transaction processing.
• Communication: Clear, concise, and professional communication with stakeholders.
• Collaboration: Ability to work effectively with cross-functional teams including Legal, Risk, and Finance.
• Problem-Solving: Proactive in identifying process issues and resolving them quickly.
 

Required Skills :

Basic Qualification :

Additional Skills :

Note: Format details. Candidate Name – Calibri 14/Centre. Layout Margin – Narrow. Paragraph setting – No space/0 spacing between lines. Font – Calibri 11. The resume should not be longer than 4-5 pages. The summary should be in 4 to 5 lines. Resume Format: DOCX- Calibri 11 with name only (you need to explain monthly gaps as well in the resume for all positions) portfolio links (if any) should be mentioned in the resume. Note: Only W2, US citizen, or Green Card. Proof of work authorization is required. 10 years Background Check, Employment Check, Education Check, Drug Test.

Background Check : No

Drug Screen : Yes