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Vendor Risk Manager Jobs in Minneapolis, MN (NOW HIRING)

Rjm Construction

Risk Manager

Golden Valley, MN · On-site

$125 - $190/hr

The Risk Manager serves as a key resource for insurance, loss prevention, subcontractor risk ... vendor compliance with contractual insurance requirements. * Manage the company's insurance ...

Titus Talent Strategies

Risk Manager

Minneapolis, MN · On-site

The Risk Manager serves as a key resource for insurance, loss prevention, subcontractor risk ... vendor compliance with contractual insurance requirements. * Manage the company's insurance ...

Beacon Mobility

Risk Manager

Maple Grove, MN · On-site

$150K/yr

... vendor services - Acquisition / Integration activity related to insurance consolidation - TNC / Broker model insurance Required Education and Experience: - Bachelors degree in Risk Management ...

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All JobsVendor Risk JobsVendor Risk Manager JobsVendor Risk Manager Jobs in Minneapolis, MN

Vendor Risk Manager information

See Minneapolis, MN salary details

$53.8K

$116.4K

$177.4K

How much do vendor risk manager jobs pay per year?

As of Sep 5, 2026, the average yearly pay for vendor risk manager in Minneapolis, MN is $116,442.00, according to ZipRecruiter salary data. Most workers in this role earn between $93,900.00 and $134,600.00 per year, depending on experience, location, and employer.

What is a vendor risk manager?

Vendor Risk Managers are professionals responsible for identifying, assessing, and mitigating risks associated with third-party vendors that provide goods or services to an organization. They evaluate vendors’ security, compliance, and operational practices to ensure they meet the company’s standards and regulatory requirements. These managers implement frameworks to monitor vendor performance, manage contracts, and respond to potential risks or incidents. Their role is crucial in protecting the organization from financial, reputational, and regulatory harm that can arise from third-party relationships.

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

To thrive as a Vendor Risk Manager, you need expertise in risk assessment, third-party management, and compliance, often backed by a degree in business, finance, or a related field. Familiarity with risk management platforms, contract management tools, and certifications like Certified Third Party Risk Professional (CTPRP) are highly valuable. Strong analytical thinking, negotiation, and clear communication skills help you collaborate with vendors and internal stakeholders effectively. These skills ensure organizations can identify, mitigate, and manage risks arising from third-party relationships, safeguarding business continuity and compliance.

How does a vendor risk manager typically collaborate with other departments within an organization?

A Vendor Risk Manager works closely with departments like procurement, legal, IT, and compliance to ensure that vendors meet the organization's security and regulatory standards. This collaboration often involves reviewing contracts, assessing potential risks, and implementing mitigation strategies. Regular communication with stakeholders is essential to keep everyone informed about vendor performance and risk status, making cross-functional teamwork a key aspect of the role. Effective collaboration helps streamline risk assessments and supports informed decision-making across the business.

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

AspectVendor Risk ManagerVendor Compliance Analyst
CertificationsCertified Third Party Risk Professional (CTPRP), Certified Information Systems Auditor (CISA)Certified Compliance & Ethics Professional (CCEP), Certified Regulatory Compliance Manager (CRCM)
Work EnvironmentRisk management teams, procurement, legal departmentsCompliance departments, audit teams, legal units
Industry UsageFinance, healthcare, technology, retailFinance, healthcare, manufacturing, technology
Primary FocusIdentifying, assessing, and mitigating vendor risksEnsuring vendor adherence to compliance standards and policies

The Vendor Risk Manager focuses on evaluating and mitigating risks associated with vendors, while the Vendor Compliance Analyst concentrates on ensuring vendors meet regulatory and internal compliance standards. Both roles are essential in managing vendor relationships but differ in their core responsibilities and focus areas.

Vendor Risk Manager jobs near you
Infographic showing various Vendor Risk Manager job openings in Minneapolis, MN as of August 2026, with employment types broken down into 86% Full Time, 12% Part Time, and 2% Contract. Highlights an 84% Physical, 2% Hybrid, and 14% Remote job distribution, with an average salary of $116,442 per year, or $56 per hour.

Risk & Compliance Tech Specialist

SFM Mutual Insurance Companies

Bloomington, MN • On-site

$90K - $126K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 3 days ago

Job description

Location: Bloomington, Minnesota (Hybrid) | Full-Time
Pay: $90,100.00 to $126,200.00
Ranked #8 Top Workplace - Midsize Employer, MN
About the Role:
SFM writes Workers' Compensation Insurance Policies in 34 states, meaning multi-state regulations, filing calendars and laws moving at different speeds, an enterprise risk program spanning every business unit, and a vendor ecosystem that touches claims data and policyholder information. The Risk & Compliance Technical Specialist reports to the Chief Legal Officer and ensures compliance, enterprise risk and vendor risk programs are running smoothly, while building the metrics and analysis leadership uses to make decisions. You will develop the materials executive management takes to the Board and maintain workflows, systems, and governance records that keep our Risk programs operating consistently and effectively. Collaborating with the compliance and business teams accountable for each area is a big part of this job. This position will allow you to develop a unique enterprise-wide perspective on regulatory compliance, risk management, vendor oversight, and governance activities while playing a key role in keeping SFM operations running efficiently. This role offers a combination of program administration, technology platform management, and analytics while providing meaningful exposure to executive leadership, enterprise-wide initiatives, and Board governance activities. This position reports to the corporate headquarters in MN, and hybrid work is offered.
What You'll Do:
Risk Management Programs:
  • Maintain the workflows, calendars, systems of record and reporting processes that keep each program on schedule, and give the teams responsible for compliance, risk plans and vendor relationships a consistent experience.
  • Administer the technology platforms behind each program, research and recommend process and platform improvements, and partner with providers and internal stakeholders to implement approved changes.
  • Support executive management in its Board reporting on regulatory compliance, enterprise risk and vendor risk, identifying the matters that warrant Board attention and building the underlying materials.

Regulatory compliance
  • Tracks compliance status against agency deadlines across all states in which SFM does business in, including tracking existing, new and pending laws and regulations, while partnering with the Chief Legal Officer on the impact, timing and jurisdictional differences of model law and legislative changes.
  • Assist with the development and maintenance of compliance policies, procedures, guidance and supports training as regulations change. Conducts periodic gap analyses and guide teams through assessment, tracking, and remediation of control exceptions.

Enterprise risk management
  • Support business leaders in building and maintaining their risk plans, and help identify controls that manage, limit or reduce risk, and facilitate risk assessments and monitor completion of mitigation activities and action plans.
  • Monitor emerging risks including AI governance, cybersecurity and data security, and privacy; identify the drivers and trends, assess what they mean for SFM's programs, and recommend adjustments to the affected business functions.

Vendor risk management
  • Coordinate the vendor risk process, including timely review of SOC audit reports, and maintain the vendor database, contracts, review schedules and vendor status.
  • Work with vendor owners to remediate security exceptions, partner with Information Services and vendor owners on repeat or serious findings, and evaluate whether a vendor relationship should continue.
  • Provide guidance and training to platform users on the Vendor Management Policy.

What We'll Like About You:
  • Four or more years of experience supporting risk management, or insurance regulatory compliance processes and or experience working with enterprise and vendor risk strategies, or something similar
  • Bachelor's degree in business or an analytical field preferred; equivalent work experience considered in lieu of a degree
  • Workers' compensation or general insurance experience preferred
  • Experience administering a GRC (governance, risk, and compliance), enterprise risk or vendor risk platform preferred
  • Strong analytical skills: you can build meaningful metrics, dashboards and trend analyses from complex data
  • Advanced technology skills, including Microsoft 365, governance and risk platforms, and data visualization tools
  • Excellent problem-solving skills and strong decision making abilities.
  • Communication skills with a customer-service mindset, with the ability to prepare polished Board-level materials and communicate comfortably in informal, everyday conversations.
  • The aptitude to run multiple projects to completion with timely completion and the discretion to handle confidential information

Why You'll Love Working Here
We want your work life to feel balanced, rewarding, and supported. Here are just a few of the benefits SFM offers:
  • Comprehensive medical, dental, and vision coverage (plus HSA/FSA options).
  • Significant Cash Benefit if You Opt Out of Our Health Plan
  • Flexible hybrid work environment.
  • 401(k) with both Traditional and Roth options + company match.
  • Contributions toward student loan repayment.
  • Generous PTO, 9 paid holidays, and paid parental leave.
  • Monthly home internet allowance.
  • Free life insurance, short-term & long-term disability coverage.
  • Incentive bonus opportunities.
  • Adoption financial assistance.
  • Pet insurance.
  • Annual company-wide volunteer day.
  • Discounts on gyms, fitness apps, and wellness programs.

Who We Are
SFM is the leading workers' compensation insurer in Minnesota, with a growing presence across the Midwest. We're proud to be recognized as a Top Workplace (#8 midsize employer in MN) thanks to our supportive culture, commitment to our employees, and focus on doing what's right. Learn more by clicking here.
The base pay posted is just one component of SFM's total compensation package. The salary range listed represents the full compensation range for this position. Job title and starting pay will be based on the selected candidate's relevant knowledge, skills, abilities and/or experience, and education, if applicable as well as internal equity with other employees in the same job classification. #SFM
Work Environment and Physical Demands
Regular attendance is required. Work takes place in a semi paperless environment within an office setting, either on business premises or other remote location, using standard office equipment such as computers, phones, and copiers, which requires being stationary for extended periods of time. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; use hands and fingers, handle or feel; and reach with hands and arms and work with close vision. This position requires the ability to occasionally lift office products and supplies, up to 20 pounds. Work is performed indoors with little to no exposure to extreme outdoor weather conditions.
SFM Mutual Insurance Company and each of its parent companies, subsidiaries and/or affiliated companies are Equal Opportunity/Affirmative Action Employers. SFM provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, status with regard to public assistance, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify. Applicants have rights under Federal Employment Laws.
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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