Vendor Risk & Policy Analyst I

1st Source Corporation; South Bend (IN); On-site; USD 55,000 - 75,000; Full time

Job summary

1st Source Corporation in the United States seeks a Risk Management Support professional to assist vendor monitoring, contract administration, and policy management. The role ensures strict adherence to risk controls by reviewing COIs, maintaining vendor records, and coordinating business continuity activities.

You will help compile KRI data, prepare management summaries, and support risk-related projects while maintaining accurate documentation and compliance with laws and corporate policies.

Qualifications

• One or more years of risk management, contract management, vendor management, or related experience preferred but not required.
• Strong proficiency in Microsoft Word, Excel, Outlook, and related business systems.

Responsibilities

• Conduct ongoing critical vendor monitoring through internet searches, major news sites, SEC filings, regulatory agencies, press releases, company websites, and report items of concern.
• Upload and maintain contracts and agreements in Nvendor and related contract management systems.
• Receive and review new preferred vendor packets from Administrative Services and coordinate the vendor risk assessment process by submitting documentation for risk rating approval.
• Review, analyze, and approve vendor Certificates of Insurance (COIs) to ensure compliance with organizational insurance requirements and risk management standards.
• Maintain accurate vendor records by uploading required documentation into the vendor management system (Nvendor) and updating the Insurance Tracking Spreadsheet.
• Maintain new contract inventories and support contract retrieval and expiration monitoring.
• Identify and onboard new vendors by reviewing Accounts Payable reports and business debit card transactions, researching vendor services and relationship ownership, coordinating with internal stakeholders as needed, and maintaining accurate vendor records in Nvendor.
• Review business debit card activity to identify new vendor relationships and update vendor management records.
• Assist with the administration and maintenance of the Business Continuity (BC) program, including tracking annual reviews and updates of business unit continuity plans.
• Coordinate annual business continuity reviews with business unit leaders to ensure plans, recovery strategies, key personnel, and critical process information remain accurate and current.
• Collect, compile, and maintain BC documentation and update SourceNet.
• Support BC exercises, tabletop tests, and program improvement initiatives by coordinating communications, documentation, and results tracking.
• Gather Key Risk Indicator (KRI) data from business units, validate submissions, and maintain reporting schedules and tracking records.
• Help prepare KRI reports, trend analyses, and management summaries to support risk monitoring and reporting activities.
• Follow up with business units regarding overdue BC reviews, KRI submissions, testing requirements, and corrective action items.
• Track vendor certificates of insurance, request renewals, and update Nvendor records.
• Facilitate corporate policy review, approval, publication, and maintenance processes.
• Maintain Policy Management Portal records and SourceNet policy documentation.
• Receive Global Companion Insurance policy. Copy and laminate included card to distribute to individuals listed as Foreign Travel Memo Recipients. Make annual updates to list of recipients.
• Assist with risk management projects as assigned.
• Maintain regular and predictable attendance.
• Complete all required compliance training and comply with applicable laws, regulations, and corporate policies.
• Regular and predictable attendance is an essential requirement of the position.
• Responsible for the completion of all compliance training related to the position.
• Understands all applicable laws and regulations that apply to the position and comply with the requirements.

Skills

Risk management

Contract management

Vendor management

Policy management

Compliance

Job description

1st Source Corporation in the United States seeks a Risk Management Support professional to assist vendor monitoring, contract administration, and policy management. The role ensures strict adherence to risk controls by reviewing COIs, maintaining vendor records, and coordinating business continuity activities.

You will help compile KRI data, prepare management summaries, and support risk-related projects while maintaining accurate documentation and compliance with laws and corporate policies.