Sr Associate - Vendor Compliance. & Risk Management

The ideal candidate will have strong experience in vendor management, procurement, compliance, due diligence, risk assessment, audits, and documentation management. The person will work closely with Procurement, Finance, Legal, Operations, and Business teams to ensure that vendors are properly evaluated before onboarding and continuously monitored throughout the relationship.

Key Responsibilities

1. Vendor Due Diligence & Onboarding

● Establish and manage a structured vendor onboarding and due diligence process

● Define minimum eligibility and selection criteria for different categories of vendors.

● Conduct comprehensive checks on vendors before onboarding, including:

○ Business registration and statutory documents

○ GST and PAN validation

○ Company ownership and beneficial ownership

○ Bank account and financial information

○ Business address and operational existence

○ Relevant licenses and certifications

● Coordinate with external background verification and due diligence agencies where required.

● Conduct background checks and assess the credibility and track record of prospective vendors.

● Ensure all mandatory documents are collected, verified, approved, and maintained before vendor activation.

2. Vendor Risk Assessment

● Develop a systematic vendor risk assessment framework based on factors such as financial stability, compliance history, operational capability, documentation, reputation, and business criticality

● Conduct financial health checks and identify potential indicators of vendor failure or financial distress

● Identify and assess supply chain and operational risks associated with vendors.

● Categorize vendors based on risk levels and define appropriate monitoring requirements.

● Flag high-risk vendors to relevant stakeholders and recommend appropriate mitigation measures.

3. Vendor Compliance Management

● Monitor compliance with vendor agreements, terms and conditions, contractual requirements, and organizational policies.

● Develop and maintain vendor compliance policies and standard operating procedures.

● Establish appropriate compliance clauses and requirements within vendor agreements.

● Track expiry and renewal of licenses, registrations, certificates, and other statutory documents.

● Identify gaps in vendor compliance and ensure timely corrective action.

● Maintain a centralized and up-to-date vendor compliance database.

4. Vendor Audits & Verification

● Plan and conduct periodic vendor audits and compliance reviews.

● Perform documentation and process audits to verify vendor information.

● Coordinate physical verification/site visits for selected vendors where required, including operational locations, warehouses, scrap yards, processing units, or other relevant facilities.

● Work with external agencies when physical verification or specialized background checks are required.

● Document audit findings and track corrective and preventive actions.

5. Vendor Performance Management

● Develop vendor scorecards, KPIs, and performance monitoring mechanisms.

● Track vendor performance against agreed commercial, operational, compliance, and service-level requirements.

● Establish periodic vendor review mechanisms.

● Identify recurring performance or compliance issues and recommend corrective actions.

● Work with business teams to ensure consistent vendor evaluation practices across functions.

6. Vendor Risk & Compliance Reporting

● Maintain a clear view of the organization's overall vendor risk exposure.

● Prepare periodic vendor compliance and risk reports for Finance, Legal, Operations, and Leadership.

● Highlight high-risk vendors, unresolved compliance issues, financial concerns, and overdue documentation.

● Develop dashboards and reports to track vendor onboarding, compliance status, audits, risk ratings, and corrective actions.

7. Vendor Exit & Risk Mitigation

● Establish a structured process for vendor suspension, deactivation, and exit.

● Identify situations where a vendor should be restricted, suspended, or exited due to non-compliance or increased risk.

● Ensure vendor exits are properly documented and coordinated with Finance, Legal, Procurement, and Operations.

● Support recovery and risk mitigation activities where vendors fail to meet contractual or compliance obligations.

● Maintain appropriate records of vendor issues and historical risk assessments.

8. Policy & Process Development

● Develop and continuously improve vendor management and compliance policies.

● Standardize vendor onboarding and procurement processes across different business functions.

● Identify process gaps that could expose the organization to financial, legal, operational, or reputational risks.

● Recommend technology, process, or control improvements to strengthen vendor governance.

● Educate internal teams on vendor compliance requirements and onboarding procedures.

9. Cross-functional Collaboration

● Work closely with:

○ Procurement

○ Finance

○ Legal

○ Operations

○ Marketplace / Business Teams ○ Supply Chain ○ Leadership

● Ensure vendor-related decisions are aligned with organizational risk appetite and business requirements.

● Act as the central point of coordination for vendor compliance and risk-related matters.

Key Deliverables / KPIs Success in this role will be measured through:

● Percentage of vendors completing due diligence before onboarding.

● Vendor documentation compliance rate.

● Reduction in high-risk or non-compliant vendors.

● Timely completion of vendor audits and reviews.

● Percentage of vendors with updated compliance documentation.

● Vendor risk assessment coverage.

● Number and value of vendor-related financial/compliance risks identified and mitigated.

● Timely closure of vendor corrective actions.

● Implementation and adoption of standardized vendor onboarding processes.

● Vendor performance and compliance scorecard completion.

● Reduction in losses or operational disruptions caused by vendor-related risks.

Required Qualifications & Experience

● Bachelor's degree in Business Administration, Commerce, Finance, Supply Chain, Procurement, Operations, or a related field.

● 8–10+ years of relevant experience in vendor management, procurement, compliance, risk management, supply chain, audit, or related functions.

● Strong experience in vendor onboarding and due diligence.

● Experience in conducting or coordinating vendor audits and background verification.

● Understanding of GST, statutory documentation, business registrations, and basic financial due diligence.

● Experience in developing and implementing SOPs, policies, controls, and compliance processes.

● Strong analytical and documentation skills.

● Experience working with multiple internal stakeholders and external vendors.

● Ability to identify potential risks and take proactive corrective action.

● Willingness to travel for vendor/site verification when required.