A Vendor Risk & Compliance Analyst is responsible for assessing, monitoring, and managing the risks associated with third-party vendors. This role ensures that vendors comply with regulatory and organizational standards, safeguarding the company from potential risks.
Key Responsibilities
Conduct risk assessments of potential and existing vendors.
Monitor vendor compliance with regulatory requirements and internal policies.
Collaborate with procurement and legal teams to ensure vendor contracts meet compliance standards.
Develop and implement risk mitigation strategies.
Prepare reports on vendor risk and compliance status for management.
Top Skills for Success
Analytical Thinking
Knowledge of Regulatory Standards
Vendor Management
Communication Skills
Risk Assessment
Career Progression
Can Lead To
Senior Risk Analyst
Compliance Manager
Transition Opportunities
Risk Management Consultant
Compliance Director
Common Skill Gaps
Often Missing Skills
Advanced Data AnalysisTechnical Security Knowledge
Development SuggestionsConsider taking courses in data analytics and cybersecurity fundamentals to bridge the skill gap.
Salary & Demand
Median Salary Range
Entry Level$55,000 - $70,000
Mid Level$70,000 - $90,000
Senior Level$90,000 - $120,000
Growth Trend
The demand for Vendor Risk & Compliance Analysts is growing steadily due to increasing regulatory environments and the need for companies to manage third-party risks effectively.
Companies Hiring
Major Employers
JPMorgan ChaseDeloittePwCAccenture
Industry Sectors
Financial ServicesConsultingHealthcareTechnology
Recommended Next Steps
1
Gain certifications such as Certified Third Party Risk Professional (CTPRP).
2
Network with professionals in risk and compliance through industry events and online forums.