About the Role
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
- 5 - 7 years automotive finance or related financial services experience
- 5 years regulatory compliance
- 3 years in vendor risk management
- Bachelor’s Degree in business, finance, vendor management or related major
- MBA or other relevant professional designations.
- 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
- 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.
- Experience with vendor risk management systems (e.g. RSA Archer, Dunn & Bradstreet, etc.)
- Certified Third Party Risk Professional (CTPRP)
- Work primarily from home with office presence required up to 50% of the time.
- 1%-20% of the time to vendor locations as required.
About the Company
Founded in 1955, Volkswagen of America, Inc., an operating unit of Volkswagen Group of America, Inc. (VWoA) is headquartered in Herndon, Virginia. It is a subsidiary of Volkswagen AG, headquartered in Wolfsburg, Germany. VWoA’s operations in the United States include research and development, parts and vehicle processing, parts distribution centers, sales, marketing and service offices, financial service centers, and its state -of-the- art manufacturing facility in Chattanooga, Tennessee. The Volkswagen Group is one of the world's largest producers of passenger cars and Europe's largest automaker. VWoA sells the Atlas, Beetle, Beetle Convertible, CC, Golf, Golf Alltrack, Golf GTI, Golf R, Golf SportWagen, e-Golf, Jetta, Passat, Tiguan and Touareg vehicles through approximately 652 independent U.S. dealers. Visit Volkswagen of America online at www.vw.com or media.vw.com to learn more.