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Vendor Risk Assessment Jobs in Chicago, IL (NOW HIRING)

Smarkets

Chief Risk Officer (Chicago)

Chicago, IL · On-site

Establish and maintain risk assessment processes across market volatility and trading disruptions, technology failures and cyber threats, vendor and third‑party dependencies, and compliance and ...

HUB

Senior Risk Consultant

Chicago, IL

Lead comprehensive risk assessments and audits across manufacturing, construction, distribution ... Carrier & Vendor Management * Build and maintain productive relationships with insurance carrier ...

Omnicom

Strategic Sourcing Manager

Skokie, IL · Hybrid

$123K - $159K/yr

... vendor risk assessment, compliance verification, and business continuity planning Participates in process improvement initiatives and cross-functional meetings to enhance sourcing operations Performs ...

Omnicom

Strategic Sourcing Manager

Skokie, IL · On-site

$90K - $100K/yr

... vendor risk assessment, compliance verification, and business continuity planning Participates in process improvement initiatives and cross-functional meetings to enhance sourcing operations Performs ...

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All JobsVendor Risk Assessment JobsVendor Risk Assessment Jobs in Chicago, IL

Vendor Risk Assessment information

See Chicago, IL salary details

$53.1K

$114.9K

$175.1K

How much do vendor risk assessment jobs pay per year?

As of Sep 2, 2026, the average yearly pay for vendor risk assessment in Chicago, IL is $114,919.00, according to ZipRecruiter salary data. Most workers in this role earn between $92,700.00 and $132,900.00 per year, depending on experience, location, and employer.

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 near Chicago, IL are hiring for Vendor Risk Assessment jobs?

Cities near Chicago, IL with the most Vendor Risk Assessment job openings:

Vendor Risk Assessment jobs near you
Infographic showing various Vendor Risk Assessment job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 83% Full Time, 13% Part Time, 2% Contract, and 1% Nights. Highlights an 85% Physical, 5% Hybrid, and 10% Remote job distribution, with an average salary of $114,919 per year, or $55.2 per hour.

Chief Risk Officer (Chicago)

Smarkets

Chicago, IL • On-site

Full-time

Re-posted yesterday

Job description

Chief Risk Officer

CFTC-Regulated Business Unit

Location: Chicago, IL. Fully remote to start, transitioning to 3 days/week in office.

About Smarkets

Smarkets is a prediction market exchange for sports and political trading that has handled over $50 billion in volume since 2010. We are upending the sports betting industry by growing a platform that offers the best value for traders, with not only the fairest prices but also the best technology, alongside a superior customer experience.

We believe the foundation to our success is attracting the best people to our organisation and creating a high-performance environment where they can thrive. We are searching for an atypical candidate with a wealth of regulated business experience to support the development of our CFTC business.

The Role

This is a senior leadership role sitting within our CFTC-regulated business unit, with responsibility for the enterprise risk management function across our Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO). You will be the most senior risk voice in the business, owning the identification, assessment, and mitigation of every risk facing the entity. This is a founding build: our licensing applications are in‑flight and you will stand up the risk management framework from the ground up through to go‑live, then operate and mature it as the business scales. You will work directly with the CEO and board, with the support of the Smarkets UK team behind you.

About You

  • Senior risk leader with 7+ years of senior experience in risk management, ideally within derivatives markets, exchanges, clearinghouses, or other financial infrastructure providers.

  • 4+ years of hands‑on experience owning enterprise or operational risk within a DCM, DCO, or comparable regulated market infrastructure in the United States, with direct responsibility for risk and system safeguards, not advisory or supporting experience.

  • Entrepreneurial mindset with a proven track record working in a small scale fast‑paced creative work environment.

  • Deep understanding of the CFTC's risk and system safeguards expectations, including Core Principle 20 (System Safeguards), stress testing, and operational resilience requirements.

  • Strong background identifying and analysing technology risk, counterparty exposures, and internal control weaknesses, and translating them into a defensible, audit‑ready risk framework.

  • Proficiency with established risk assessment frameworks (COSO ERM, ISO 31000) and control testing, applied across financial, operational, and systemic risk. CFA or FRM certification is desirable.

  • Experience partnering with the CEO and board on risk strategy, board‑level governance, and risk reporting, including engagement with regulators at an institutional level.

Responsibilities

  • Own the end-to-end enterprise risk management programme for Smarkets Board of Trade (DCM): policies, controls, monitoring, stress testing and reporting, ready for go‑live.

  • Establish and maintain risk assessment processes across market volatility and trading disruptions, technology failures and cyber threats, vendor and third‑party dependencies, and compliance and internal control weaknesses.

  • Own Core Principle 20 (System Safeguards): embed system safeguards testing, cyber resilience, business continuity and recovery planning into day‑to‑day operations.

  • Oversee or conduct stress testing and backtesting relevant to market and technology risk, and maintain the risk register with clear escalation of significant events to the CEO and regulatory authorities.

  • Develop risk mitigation strategies and monitor risk indicators across all business units, including those operating across jurisdictions (for example, engineering in the UK).

  • Work in coordination with the CISO and Compliance to ensure regulatory and operational risk is fully embedded across the business.

  • Report on risk exposures and mitigation plans to the CEO, board, and designated risk committees, ensuring documentation, dashboards and controls are audit‑ready and CFTC‑compliant.

  • Contribute to incident response and recovery planning, with a focus on risk impact analysis and controls testing.

Desirable Attributes

  • Personal interest in sports, exchanges, or trading

  • Experience with system safeguards testing, cybersecurity risk, and business continuity and disaster recovery planning in a regulated trading environment.

  • Experience engaging with self‑regulatory organisations (SROs) such as the NFA, and participating in industry working groups.

  • Prior experience at the CFTC as a staff member or examiner, subsequently transitioning to industry, this background is highly valued.

  • Familiarity with event contracts, prediction markets, or similar novel futures products and their treatment under the CFTC framework.

Our Values

  • Push to win

  • Make others better

  • Give a shit

  • Be a pro

  • Bring the energy

Our values are at the heart of everything that we do. We believe these are the fundamentals to ensure we are delivering what's expected of us in the best way possible for ourselves and for those around us.

Benefits

We offer a competitive salary package and benefits, along with a dynamic and collaborative work environment. Your work with us will make an impact and your voice will be heard. We are a diverse team with a strong work ethic and plenty of hunger to win. We have designed our benefits offering around Health, Wealth, Lifestyle and Development.

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