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Vendor Risk Management Jobs in Philadelphia, PA (NOW HIRING)

The Institutes

Vendor Management Analyst

Malvern, PA · On-site

Maintain vendor tier classifications and risk profiles using the established tiering framework. * Track remediation items and follow up with vendors. * Distribute, collect, and organize security ...

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Vendor Risk Management information

See Philadelphia, PA salary details

$43.9K

$104.6K

$169K

How much do vendor risk management jobs pay per year?

As of Aug 9, 2026, the average yearly pay for vendor risk management in Philadelphia, PA is $104,646.00, according to ZipRecruiter salary data. Most workers in this role earn between $73,200.00 and $133,200.00 per year, depending on experience, location, and employer.

How to do vendor risk management?

Vendor risk management involves identifying, assessing, and mitigating risks associated with third-party vendors to ensure they meet security, compliance, and performance standards. It typically includes conducting due diligence, evaluating vendor controls, and monitoring ongoing performance using tools like risk assessment frameworks and vendor management software. Strong communication and documentation are essential for effective oversight.

What are the key skills and qualifications needed to thrive in vendor risk management?

To thrive in Vendor Risk Management, you need a solid background in risk assessment, contract analysis, and supply chain management, often supported by a degree in business, finance, or a related field. Familiarity with risk management software, vendor management systems, and relevant certifications such as Certified Third Party Risk Professional (CTPRP) are highly valued. Strong attention to detail, excellent communication, and negotiation skills help build effective vendor relationships and navigate complex scenarios. These capabilities are crucial for ensuring organizational compliance, minimizing third-party risks, and maintaining strong supplier performance.

What does a vendor risk management do?

A vendor risk management professional assesses and monitors the risks associated with third-party vendors to ensure compliance, security, and operational integrity. They evaluate vendor security practices, contractual obligations, and potential vulnerabilities, often using risk assessment tools and frameworks to mitigate potential threats to the organization.

What is vendor risk management?

A Vendor Risk Management (VRM) job involves assessing, monitoring, and mitigating risks associated with third-party vendors and suppliers. Professionals in this role evaluate vendor security, compliance, and operational risks to protect their organization from potential disruptions, data breaches, or regulatory violations. They work closely with procurement, legal, and IT teams to establish risk management frameworks and ensure vendors meet contractual and security standards. Their responsibilities often include conducting risk assessments, reviewing vendor contracts, and developing risk mitigation strategies. Effective VRM helps organizations reduce exposure to risks while maintaining productive vendor relationships.

What are some common challenges faced in vendor risk management?

Professionals in Vendor Risk Management often encounter the challenge of assessing and monitoring a wide range of vendors, each with unique risk profiles and compliance requirements. Balancing multiple projects, managing deadlines, and ensuring clear communication between internal stakeholders and vendors can also be demanding. Staying updated on evolving regulatory standards and quickly adapting to new risks is essential in this role. Overcoming these challenges requires strong organizational skills, continual learning, and proactive relationship management.

What are the most commonly searched types of Vendor Risk Management jobs in Philadelphia, PA? The most popular types of Vendor Risk Management jobs in Philadelphia, PA are:
What are popular job titles related to Vendor Risk Management jobs in Philadelphia, PA? For Vendor Risk Management jobs in Philadelphia, PA, the most frequently searched job titles are:
What job categories do people searching Vendor Risk Management jobs in Philadelphia, PA look for? The top searched job categories for Vendor Risk Management jobs in Philadelphia, PA are:
Vendor Risk Management jobs near you
Infographic showing various Vendor Risk Management job openings in Philadelphia, PA as of July 2026, with employment types broken down into 1% As Needed, 82% Full Time, 14% Part Time, 1% Temporary, and 2% Contract. Highlights an 87% Physical, 2% Hybrid, and 11% Remote job distribution, with an average salary of $104,646 per year, or $50.3 per hour.

Vendor Management Analyst

The Institutes

Malvern, PA • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 14 days ago

Job description

About The Institutes
Located in beautiful Malvern, Pennsylvania, The Institutes® are a not-for-profit comprised of diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by our nearly 20 affiliated business units, people and organizations are empowered to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world.
Additionally, we understand the importance of work-life balance-in 2025 Philly.com named us a Top Workplace for the tenth year and USA Today named us a USA Top Workplace for the fourth year. We provide excellent benefits and a friendly, team-focused work environment to drive employee engagement.
Vendor Management AnalystThe Vendor Management Analyst supports The Institutes' vendor governance and third-party risk management (TPRM) program day to day. This role handles vendor lifecycle administration, third-party and AI-related risk intake and assessment, contract and renewal tracking, and SaaS/portfolio data, applying the frameworks, scoring criteria, and standards set by IT leadership. The role makes heavy use of AI and LLM tools to research vendors, analyze risk and spend, and prepare clear, well-organized reporting. It partners with Security, Legal, Procurement, IT, and Application Development to keep vendor and AI risk visible, documented, and current.
What You'll Do:
Vendor Governance & Lifecycle Administration
  • Maintain the contract repository and renewal calendar.
  • Coordinate renewals with Legal and Procurement.
  • Maintain vendor tier classifications and risk profiles using the established tiering framework.
  • Track remediation items and follow up with vendors.
  • Distribute, collect, and organize security questionnaires.
  • Collect and review SOC reports, cyber insurance documentation, and compliance artifacts.
  • Research vendor markets for trends, risks, and current events, and raise risks as needed.
  • Identify continuous-improvement opportunities and flag them.

AI & Third-Party Risk Analysis
  • Conduct AI-focused vendor risk assessments - covering model usage, training-data sources, and data-retention practices - using the established assessment criteria.
  • Apply the AI risk-scoring methodology to evaluate vendor AI posture and document findings.
  • Assess AI model risk exposure (bias, explainability, and regulatory considerations) and record results.
  • Support Security in identifying and flagging Shadow AI usage across the organization.
  • Track vendor data-exposure risk and data-sharing pathways.
  • Maintain vendor and AI-governance records in OneTrust (or equivalent TPRM platform).

Contract & Data Governance Support
  • Review AI- and data-related contract clauses and flag items for Legal, including data ownership, data residency, model-training rights, subprocessor disclosures, and AI indemnification/liability language.
  • Support Legal in applying AI and data-protection contractual standards.
  • Support contractual reviews of AI/data usage during vendor onboarding and renewals.

Technology Portfolio & SaaS Tracking
  • Maintain the enterprise SaaS inventory and technology portfolio map.
  • Analyze license utilization and identify consolidation opportunities.
  • Surface redundant platforms and overlapping AI tool capabilities to the Manager.
  • Prepare cost-and-risk optimization options for the Manager's review.

Reporting & Analytics
  • Maintain vendor risk dashboards and AI-posture reporting.
  • Prepare reporting for the Manager and stakeholders on AI vendor exposure, data-risk trends, model-risk concentration, and SaaS redundancy and cost.
  • Flag recurring risk patterns across vendor categories.

What We're Looking For:
Required
  • 3+ years of experience in vendor management, third-party risk, IT governance, compliance, procurement, or operations.
  • Comfortable using AI/LLM tools (e.g., Claude, Microsoft Copilot) as a daily part of research, analysis, and documentation.
  • Able to use AI tools effectively to manage the volume of vendor research and analysis the role requires.
  • Experience reviewing vendor contracts and tracking renewals.
  • Exposure to third-party risk assessments and security-questionnaire processes.
  • Strong analytical and documentation skills.
  • Highly curious, with a drive to improve the customer experience and risk-management processes.
  • Experience maintaining SaaS inventories or technology portfolios.
  • Proficiency in Excel and vendor management platforms.

Preferred
  • Experience supporting SOC 2, ISO 27001, or similar audits.
  • Familiarity with OneTrust or TPRM platforms.
  • Exposure to AI governance, data risk management, or emerging technology risk.
  • Understanding of AI model risk principles (bias, explainability, regulatory impact).

Ability to be on-site 5 days a week is a must. The need for extended hours may be required to support meetings/events.
Required Competencies
  • Analytical, risk-based thinking
  • Strong organization and follow-through
  • AI and data-governance awareness
  • Effective use of AI/LLM tools for research, analysis, and documentation
  • Cross-functional collaboration
  • Process-improvement mindset
  • Clear, well-organized reporting
  • Commitment to The Institutes' cultural values: Put the Customer First, Do What You Say, Work Together, Be Innovative, and Do the Right Thing.

The Best Part? The Benefits!
To enforce the importance of work-life balance, employees enjoy excellent benefits, including:
  • 401(k) plan with company contribution up to 16%
  • Generous time off package that includes paid vacation, personal, sick, and holidays
  • Paid maternity and parental leave
  • Tuition reimbursement
  • Medical, dental, vision, and prescription coverage
  • On our Malvern campus: Free lunch every day when working on campus, onsite fitness center, and a beautiful 1.25-mile walking path!

Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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