Supplier Risk Executive

2 weeks ago


Bournemouth, United Kingdom Vitality Full time

**Overall Job Purpose**

As part of the Sourcing team, the Supplier Risk Executive will support Vitality’s end to end sourcing activities, with specific focus on the development and implementation of effective supplier risk management. The role will be focused on identification,, evaluation and mitigation of risk from Vitality’s third party suppliers.

**Accountabilities**

**Supplier Risk**
- Be responsible for populating and maintaining the Vitality Supplier Risk Database, covering all third parties that Vitality engages with.
- Effectively manage the onboarding of new suppliers and a portfolio of risk categorised suppliers via the Supplier Risk process, managing review cycles, issuing and tracking of documentation, review and evaluation of responses, and compliance, to mitigate Vitality against any potential risk.
- Help set the standards for great Supplier Risk Management across the Vitality Group, including creating frameworks for supplier risk management of suppliers in terms of data protection, financial standing and information security.
- Utilisation of tools to support supplier risk activity, including a financial tracking system, and workflow system
- Work with stakeholders across the Vitality Group to monitor the risk of key suppliers.
- Act as a point of contact for any supplier queries and to support supplier audits where required.
- Mitigate third party risk, by ensuring key documentation such as exit plans and business continuity plans are in place for all key contracts and that they are regularly reviewed and updated to ensure they remain fit for purpose.

**Sourcing Administration**

Be responsible for the management of the supplier set up process, inclusive of new supplier onboarding, and maintenance of existing records for the processing of purchase orders and invoicing.

**Skills Required**:
Essential
- Show an encouraging level of risk management and commercial understanding
- Have experience of negotiating with suppliers to deliver value and mitigate contractual risk
- Have an understanding of supplier risk management, and supplier management and the importance of risk mitigation
- Be able to communicate, influence, and network with stakeholders at all levels, both internally and externally
- Possess a good attention to detail and a strong desire to seek ways to deliver continuous improvement.
- Be capable of effectively managing workload and prioritising demand in order to meet and exceed stakeholder expectations

Desirable
- Understanding of the UK regulatory environment, with particular regard to how it impacts sourcing and outsourcing


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