Role Summary/Purpose
The Senior Supplier Risk Manager (SSRM) provides guidance to Synchrony functions on managing supplier risk across the full supplier lifecycle. The SSRM leads the process of assessing the risk a supplier presents to Synchrony, informing due diligence evaluations and ongoing monitoring requirements, and partners with the Supplier Manager and process owner to develop appropriate business solutions. When supplier incidents occur, the SSRM advises on risk mitigation actions.
The SSRM also supports functions on complex supplier activities and oversees adherence to the Supplier Risk Management Program. They collaborate with Source‑to‑Pay partners and work closely with Supplier Managers and Program SMEs to ensure the supplier’s risk profile is accurately documented. In partnership with the Functional Designees, the SSRM monitors for material changes in risk and escalates significant concerns about the risk profile or program compliance to leadership. This role is responsible for identifying and championing Supplier Risk Management Program process improvements with a focus on simplification, utilizing a data‑driven approach to detect emerging risks and escalating them to the appropriate leadership. The SSRM will lead, independently, a variety of Supplier Risk Management Program initiatives and projects and support training and communications to ensure Program participants understand their roles and responsibilities.
Essential Responsibilities
- Determine risk profile of supplier relationships, including pending deals
- As necessary, identify additions to or modifications to the standard due diligence or monitoring requirements, including SLAs
- Review monitoring results to identify emerging concerns and any adjustments needed to monitoring or due diligence requirements
- For pending deals, partner with the Sourcing Commodity Leaders on contractual language specific to the supplier’s risk profile and maintain awareness of potential contractual deviations that impact ability to monitor the supplier
- Advise on appropriate risk mitigation steps for risks and issues as well as on areas of focus needed during on‑sites
- Support assigned function on complex supplier activities where additional support is needed
- Create a culture of performance excellence and compliance by performing training, coaching and mentoring of key stakeholders, driving understanding and awareness of supplier management requirements
- Monitor functions’ execution of all aspects of supplier management ensuring quality performance of completion of supplier engagement descriptions, categorization and inherent risk profiling
- Partner with Sourcing, 2nd Line of Defense, Legal, Functional Management and others in Source to Pay to proactively address deficiencies in the control environment and respond to risks that materialize (e.g. cyber events) by advising on appropriate mitigation efforts
- Maintain ongoing awareness of regulatory guidelines, emerging issues, industry trends, and evaluations required of suppliers and supplier managers
- Partner with bank leadership and supplier management program stakeholders to understand trends and compile feedback to drive simplicity in Supplier Management Program execution wherever possible and value in process delivery for optimal success
- Perform a variety of special projects, including championing process simplification opportunities, representing S2P in Synchrony acquisitions or divestitures, supplier calibrated categories, maintaining requirements for supplier offboarding, privacy efforts and data share
- Perform other duties and/or special projects as assigned
Qualifications/Requirements
- 10+ years financial services industry experience with a bachelor’s degree; in lieu of a bachelor’s degree 15+ years financial services industry experience, specifically in a Risk, Compliance, and/or Supplier Management Role
- 2+ years direct responsibility for supplier risk management, supplier due diligence, risk or compliance management
- Experience with Coupa Risk Assess
- Willingness to work in alignment with standard workday, US Eastern Standard Time
- Skilled in Excel and PowerPoint
- Ability and flexibility to travel for business as required
Desired Characteristics
- Prior Supplier Management, Supplier Evaluation, Sourcing or Procurement experience
- Excellent communication and team skills and proven ability to work and influence across matrix organization at all levels as well as within own function
- Prior experience in Risk Management
- Experience operating in a financial regulated‑compliance environment
- Goal‑oriented and must be self‑motivated and able to work undirected
- Ongoing awareness of regulatory guidelines, emerging issues and industry trends
- Experience with business continuity and/or operational resilience efforts
- Project Management and process improvement experience
- Comfort understanding contractual requirements