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

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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 Sep 4, 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.

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 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.

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 audits. Strong communication and documentation are essential for effective management.

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 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 August 2026, with employment types broken down into 1% As Needed, 83% Full Time, 14% Part Time, and 2% Contract. Highlights an 82% Physical, 3% Hybrid, and 15% Remote job distribution, with an average salary of $104,646 per year, or $50.3 per hour.

Manager, IT Governance, Risk & Compliance

The Institutes

Malvern, PA • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 11 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 2026 Philly.com named us a Top Workplace for the eleventh 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.
Manager, IT Governance, Risk & Compliance
The Manager, IT Governance, Risk & Compliance leads The Institutes' governance function for cybersecurity, risk management, compliance, business continuity and disaster recovery (BCDR), third-party risk management (TPRM), and AI governance. This is a governance and assurance orchestration role: the Manager sets standards, reviews and signs off on controls, and brings the organization's resources together to ensure security, AI, and data governance are working as one program. The Manager directs execution through a managed detection and response (MDR) partner, engineering leadership, staff, and platform workflows; hands-on technical security engineering resides with those partners, not with this seat.
This role owns the enterprise Third-Party Risk Management program: vendor risk governance, AI and third-party risk analysis, contractual data governance oversight, and vendor risk analytics and reporting. The Manager may delegate execution of these activities to staff or managed services, but accountability for third-party risk resides fully and solely with this position and may not be delegated.
The Manager governs the security program against the NIST CSF 2.0 framework, holds the MDR relationship and the broader security tool portfolio accountable to defined outcomes, and embeds risk stewardship into the IT delivery model through risk-tiered gates rather than after-the-fact control. The role is the governance owner for enterprise AI use, including agentic development guardrails and the citizen developer program.
Essential Responsibilities
  • Own governance of the enterprise security program aligned to NIST CSF 2.0: set the control baseline, review and sign off on control implementation and maturity assessments, and oversee the remediation roadmap for unimplemented controls, with execution by engineering teams and managed services.
  • Direct and assure daily cybersecurity operations through the MDR relationship: hold the provider to defined service levels; review alert triage, escalation, threat intelligence, and vulnerability management outputs; and sign off on remediation closure.
  • Own incident response governance: ensure security incidents are investigated end to end by the MDR partner and engineering leadership, and sign off on incident documentation, after-action reviews, and improvement actions.
  • Own the Third-Party Risk Management (TPRM) program end to end with full, non-delegable accountability: maintain vendor tier classifications and risk profiles; review and distribute security questionnaires; collect and analyze SOC reports, cyber insurance documentation, and compliance artifacts; track vendor remediation items to closure; and proactively research vendor markets to surface emerging risks and trends.
  • Own AI and third-party risk analysis: conduct AI-focused vendor risk assessments covering model usage, training data sources, and data retention practices; maintain an AI risk scoring methodology; assess model risk exposure (bias, explainability, regulatory considerations); detect and mitigate Shadow AI usage; track vendor data exposure and data-sharing pathways; and operate TPRM/AI governance platform workflows (e.g., OneTrust).
  • Own contractual data governance risk review: evaluate AI/data-related clauses in vendor contracts - data ownership, data residency, model training rights, sub-processor disclosures, and AI indemnification and liability language - in partnership with General Counsel; and provide risk review during vendor onboarding and renewals in partnership with the IT portfolio function.
  • Provide vendor risk analytics and executive reporting: risk dashboards, AI vendor exposure, data risk trends, model risk concentration, and systemic risk patterns across vendor categories.
  • Own governance of the security tool portfolio strategy and consolidation roadmap (endpoint, DSPM, data protection, backup/recovery, SIEM, MDR, and Microsoft security stack), holding sign-off on portfolio decisions with technical evaluation led by engineering leadership.
  • Own BCDR governance: ensure business continuity and disaster recovery plans are maintained, tested, and continuously improved through managed-service and engineering partners, and sign off on test results and recovery validation.
  • Manage audits, reviews, and assessments of information systems; manage cross-functional teams through external audits and maintain compliance documentation and evidence; manage outsourced assessor independence, ensuring assessment and remediation vendors are appropriately separated, and evaluated against program objectives.
  • Develop, implement, and maintain security policies, procedures, and guidelines according to NIST best practices.
  • Own AI governance operations: tool allowlists, coding-standard security requirements, citizen developer guardrails, application admin-consent review, and the risk register for AI-enabled tools.
  • Staff and develop risk review at risk-tiered delivery gates in partnership with engineering leadership, owning gate decisions within the IT delivery model.
  • Ensure delivery of security awareness and training programs to educate employees about information security best practices.
  • Oversee the technical risk management process and prepare cybersecurity and third-party risk reporting for executive leadership and the Board.
  • Perform employee evaluations and reviews for direct reports, documenting as necessary.

Other Responsibilities
  • Stay updated on information security threats, trends, and technologies, and recommend posture improvements.
  • Coordinate and evaluate security testing and penetration testing with third-party vendors.
  • Other duties as assigned.

Required Competencies
  • Risk Management and Governance
  • Control Assurance and Sign-Off
  • Third-Party and AI Risk Analysis
  • Program Orchestration and Cross-Functional Coordination
  • Decision Making
  • Leadership
  • Communication
  • Analytical Thinking
  • Relationship Building
  • Enterprise Perspective
  • Technical Fluency (sufficient to direct managed security services and critically evaluate technical recommendations)
  • Executive-Ready Reporting
  • Employee Development
  • Strive to reflect our five cultural values in all efforts: Put the Customer First, Do What You Say, Work Together, Be Innovative and Do the Right Thing.

Education and Experience
  • Bachelor's degree in information technology, business, risk management, computer science, or equivalent experience.
  • Minimum 8 years of experience in IT governance, risk, compliance, audit, or technical program and analysis leadership across IT infrastructure and software development environments.
  • Minimum 3 years leading a governance, risk, compliance, or assurance function, team, or cross-functional program.
  • Demonstrated experience managing audits and control frameworks (NIST CSF or comparable), including evidence management, control review and sign-off, and coordination of external assessors and security or compliance vendors.
  • Demonstrated experience with third-party risk management, including vendor risk assessment, security questionnaire processes, SOC report analysis, and contract risk review; familiarity with TPRM/governance platforms (e.g., OneTrust) preferred.
  • Working technical fluency across IT infrastructure, cloud environments (AWS and Microsoft stack), and software delivery sufficient to direct managed security services and critically evaluate engineering and vendor recommendations; hands-on security engineering experience and security certifications are not required.
  • Effective hands-on use of LLM-based tools to manage the research and analysis demands of the role.
  • Experience governing AI/ML or agentic technologies preferred; governance and risk certifications (e.g., CRISC, CISA, CGEIT) a plus.

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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