Vendor Risk & Compliance Support

Vendor Risk & Compliance Support

Job Summary

The Vendor Risk & Compliance Support professional is responsible for managing third-party risk management activities, vendor onboarding due diligence, compliance assessments, contract governance, and audit support. This role works closely with Procurement, Legal, Information Security, Privacy, Compliance, Finance, and Business teams to ensure vendors meet organizational, regulatory, and contractual requirements while minimizing operational, security, and compliance risks.

The role requires strong communication, stakeholder management, analytical, and coordination skills to drive timely completion of risk assessments, compliance reviews, and vendor governance activities.

Key Responsibilities

Vendor Onboarding & Due Diligence

• Manage end-to-end vendor onboarding and registration processes.
• Review and validate vendor documentation, including KYC documents, statutory registrations, certifications, and compliance records.
• Coordinate with vendors and internal stakeholders to obtain required information and resolve onboarding gaps.
• Ensure timely completion of onboarding activities in accordance with established turnaround times (TATs).

• Third-Party Risk Assessment (TPRA)
• Conduct and coordinate Third-Party Risk Assessments (TPRA) and vendor risk reviews.
• Evaluate vendor criticality, business impact, security, privacy, and compliance risks.
• Perform vendor screening against OIG, OFAC, and SAM databases.
• Coordinate with vendors and internal stakeholders to gather required TPRA information and documentation.
• Assist in identifying and resolving TPRA assessment gaps to enable timely review and decision-making.
• Maintain assessment-related records and documentation in the TPRA platform, as applicable.
• Support periodic vendor risk reviews and ongoing monitoring activities.

Compliance & Governance

• Monitor vendor compliance with organizational policies, procedures, and regulatory requirements.
• Ensure adherence to Supplier Code of Conduct, Conflict of Interest, Information Security, Privacy, and Confidentiality requirements.
• Track compliance obligations and escalate instances of non-compliance.
• Support implementation and maintenance of vendor governance frameworks.
• Assist in developing and maintaining compliance documentation, controls, and process records.

ISO & Audit Support

• Support compliance activities related to ISO standards, including ISO 27001, ISO 9001, and other applicable frameworks.
• Review vendor certifications, audit reports, SOC reports, and compliance attestations.
• Maintain evidence and documentation required for internal and external audits.
• Coordinate audit requests from auditors, compliance teams, and business stakeholders.
• Track audit observations and support corrective and preventive action plans.
• Ensure vendor records and compliance documentation remain audit ready.

Contract & Legal Coordination

• Coordinate review and execution of NDA, SLA, MSA, BAA, DPSA, SOWs, Addendums, and Other Legal Agreements.
• Work closely with Legal and Procurement teams to ensure contract requirements are aligned with compliance and risk management expectations.
• Track contractual approvals, renewals, and compliance obligations.
• Maintain contract-related documentation and approval records.

Stakeholder & Vendor Management

• Act as a primary point of contact for vendors regarding onboarding, compliance, audit, and risk management requirements.
• Build and maintain effective working relationships with internal and external stakeholders.
• Conduct regular follow-ups and communicate requirements clearly to vendors.
• Prepare status reports, escalation summaries, and management updates.
• Facilitate discussions to resolve compliance, risk, and documentation-related issues.

Documentation & Reporting

• Maintain accurate records of vendor assessments, compliance reviews, contracts, and audit evidence.
• Prepare risk and compliance reports for management review.
• Track key metrics related to vendor onboarding, compliance status, audit findings, and risk assessment completion.
• Ensure documentation is maintained in accordance with organizational policies and record retention requirements.

Process Improvement

• Identify opportunities to improve vendor risk and compliance processes.
• Recommend enhancements to strengthen compliance controls and operational efficiency.
• Support implementation of process improvements, workflow standardization, and governance initiatives.

Required Skills & Competencies

Technical Skills

• Vendor Risk Management
• Third-Party Risk Assessment (TPRA)
• Compliance Monitoring & Governance
• ISO 27001 / ISO 9001 Awareness
• Audit Coordination & Evidence Management
• Contract Administration (NDA, SLA, SOW, Addendum)
• Vendor Due Diligence & KYC Review
• Information Security & Privacy Compliance
• Regulatory Compliance Management
• Documentation and Record Management

Core Competencies

• Excellent Verbal and Written Communication Skills
• Stakeholder Management
• Vendor Relationship Management
• Risk Identification and Assessment
• Analytical and Problem-Solving Skills
• Attention to Detail
• Time Management
• Escalation Management
• Negotiation and Coordination Skills
• Process Improvement Mindset

Key Performance Indicators (KPIs)

• Vendor onboarding turnaround time (TAT)
• Risk assessment completion and closure rate
• Vendor compliance adherence percentage
• Audit readiness and audit observation closure rate
• Contract execution and renewal timelines
• Documentation accuracy and completeness
• Vendor response and resolution timelines
• Compliance issue identification and remediation effectiveness

Interested candidates share the resume on below mail id

Sravya Nalikela- Consultant.Nalikela@omegahms.com