Vendor Due Diligence and Issue Management Specialist

Spectraforce Technologies
United States, Illinois, Chicago
Apr 15, 2025
Role: Vendor Due Diligence and Issue Management Specialist Duration: 10 months Location: Chicago, IL 60604 or Tempe, AZ 85283 - Work Model: Hybrid - Anchor Days: Tuesday - Thursday The Chief Procurement Officer's team for Third Party Management (TPMO) is responsible for design and execution of the Third Party risk management program in line with regulatory expectations, NT's Third Party Risk Management Policy, and Third Party Practice Standard. This role reports to the Due Diligence and Issue Management Lead and performs as the Due Diligence Specialist within the TPMO which is the 1st line of defense for third party risk. Primarily you will work closely with the assigned business units and outsourced due diligence team and will be mainly responsible for the execution of the program as per the Third Party Standard. The role holder will be an expert in Third Party Risk Management and would be well versed in execution aspect of the program related to the entire lifecycle of third party engagements. This is a central role interacting with business units, 2nd line of defense, other team leads and offshore quality control team. Major Duties: Responsible for tracking and assisting with program throughput including various life cycle elements (Planning, IRQs, DDQs, Ongoing Monitoring, Contracting and Termination), periodic inventory review, open issues and open risk acceptance review and tracking of all internal projects Accountable for assisting and guiding business partners through various stages of third party lifecycle to ensure quality program execution Responsible for consistent status meetings with Business Unit Leads and partners, handling escalations, coordinating special requests, and resolution of identified issues Identification and escalation of program concerns, missed SLAs, and risk treatment delays Knowledge/Skills: Leadership and organizational skills. Ability to influence activities across multiple teams and across business units Outstanding writing, communication, and presentation skills Sound analytical and problem-solving skills Strong networking ability to develop internal and external networks based on integrity and credibility through active listening and understanding Experience: Bachelor's degree and approximately 10 years of related work experience with clear understanding of and experience in the Three Lines of Defense model A thorough understanding of third-party (i.e., vendor, supplier, etc.) risk management Understanding of global risk regulatory requirements with emphasis on US (OCC Bulletins, FFIEC, FRB, FDIC) or UK (PRA, FCA) A TPRM related certification such as CTPRP or CTPRA