Audi of America Looking for Vendor Risk Management Specialist – US at Ajax, Ontario, Canada Full Time

The position will be responsible for supporting the VW Credit, Inc. (VCI) vendor risk management program by performing due diligence and ongoing monitoring to ensure vendors assessments are complete and meet company standards and applicable regulatory requirements. This position must ensure completion of financial, anti-corruption, OFAC and reputational risk assessments throughout the full vendor lifecycle from on-boarding through termination. Supporting management of vendor contracts will be an important part of this job role.

Role Responsibilities

Vendor risk assessment: (75%)

• Adhere to the VCI’s Vendor Risk Management (VRM) guidelines through the execution of policies and procedures throughout the lifecycle of a third-party vendor relationships
• Provide initial and on-going due diligence review on third party vendors to ensure risk are identified and applicable standards, and VCI’s policies are being followed
• Review third party vendor assessments to identify quality of risk mitigation controls and work with the third- party vendor to address any deficiencies. Work with Subject Matter Experts (SMEs) to confirm that vendor responses are sufficient to form an opinion
• Provide support with the contractual terms based on the outcome of the vendor assessment, quality of controls and company requirements including meeting with Procurement Legal, SMEs and BO to agree on VRM mitigation efforts (if any)
• Identify any performance related clauses and measures within the contract, and implement appropriate monitoring and reporting in alignment with the VRG policy, and escalating as needed
• Collaborate with other SMEs to review third party vendor related risks and address findings and/or systemic issues with the third-party vendor, and, as applicable, request process improvements and/or changes
• Provide recommendations to business departments -pertaining to updates in processes and procedures by collecting, organizing, and analyzing data from multiple sources, based on business needs
• Analyze data and assess financial, anti-corruption, reputational and OFAC risks in order to identify impacted business departments, cross-department processes, and facilitate communications and ongoing implementation support with affected parties
• Review and track assessments on a daily basis to ensure the analysis are complete and determine how it may impact a VCI business department or process
• Work with business departments as necessary including follow-ups to ensure all assessments are complete within specified timelines and in accordance with VRM policy and procedures. Assist the VRM Supervisor with review and analysis of final assessments.
• By utilizing guidelines, identify which third party vendors require onsite assessments, work with the stakeholders to schedule the same, draft necessary documents and participate onsite assessments

Relationship Management, Reporting & Communication: (25%)

• Develop and foster effective working relationships with Business Owners and other key risk stakeholders
• Respond to requests for third party vendor related information from internal and external stakeholders
• Ensure all third- party vendor documents are current and maintained in the appropriate records repository
• Report significant third-party vendor violations and/or issues to the VRM Supervisor
• Keep up to date with relevant industry practices, standards and VCI policies
• Perform other tasks as assigned by VRM Supervisor

Hybrid

Primary Location

United States-Virginia-Herndon

Other Locations

Canada-Ontario-Ajax

Experience

Required –

• 5 – 7 years automotive finance or related financial services experience
• 5 years regulatory compliance
• 3 years in vendor risk management

Education

Required –

• Bachelor’s Degree in business, finance, vendor management or related major

Desired –

• MBA or other relevant professional designations.

General Skills

• Systemic knowledge of financial services operations
• Business objectives-focus: able to see the ‘big picture’
• Highly detail oriented and critical thinking skills
• Excellent decision-making and problem-solving skills
• Excellent verbal and written communication and presentation skills
• Influencing and negotiation skills

Specialized Skills

Required –

• Strong working knowledge of third part risk management relating to financial services
• Deep knowledge of risk management relating to automotive leasing and retail lending.
• Experience within federally regulated financial institution, supporting the vendor risk management function, as well as the business units.

Desired –

• Experience with vendor risk management systems (e.g. RSA Archer, Dunn & Bradstreet, etc.)
• Certified Third Party Risk Professional (CTPRP)

Work Flexibility

• Work primarily from home with office presence required up to 50% of the time.
• 1%-20% of the time to vendor locations as required.

Volkswagen Group of America is an Equal Opportunity Employer. We welcome and encourage applicants from all backgrounds, and do not discriminate based on race, sex, age, disability, sexual orientation, national origin, religion, color, gender identity/expression, marital status, veteran status, or any other characteristics protected by applicable laws. We maintain a drug-free workplace and perform pre-employment substance abuse testing.