Manager – Vendor Compliance & Risk Management

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.
  

Requirements

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.
  

Benefits