The pay range is $69,000.00 - $124,200.00

Pay is based on several factors which vary based on position. These include labor markets and in some instances may include education, work experience and certifications. In addition to your pay, Target cares about and invests in you as a team member, so that you can take care of yourself and your family. Target offers eligible team members and their dependents comprehensive health benefits and programs, which may include medical, vision, dental, life insurance and more, to help you and your family take care of your whole selves. Other benefits for eligible team members include 401(k), employee discount, short term disability, long term disability, paid sick leave, paid national holidays, and paid vacation. Find competitive benefits from financial and education to well-being and beyond at https://corporate.target.com/careers/benefits.

Sr. Third Party Risk Management Consultant – Due Diligence

Classification: Exempt

Date: September 2024

About Us: 

Working at Target means helping all families discover the joy of everyday life. We bring that vision to life through our values and culture. Learn more about Target here.

To match the signature style and passion of Target’s distinctive retail brand, Target Legal Affairs is a dynamic and deeply knowledgeable team of experts. Whether specializing in law, government affairs, employee relations, risk, compliance, ethics, security or food safety, we use our expertise and influence to advocate for Target, support Target’s business and mitigate risk for the company.  We work with both internal and external entities on key issues that affect Target’s ability to productively, ethically and securely conduct business.  Through our understanding of Target’s business models and operations, we help facilitate Target’s growth, and provide guidance that leaders rely on to make appropriate, well-informed decisions. Simultaneously, we help protect the business by applying our comprehensive understanding of risk and the law on issues that impact our brand, guests, team members, stores, distribution centers and corporate locations.

Here, you’ll enjoy working autonomously with a healthy work-life balance.  Your passion for learning the business, collaborating with others and building relationships with senior leaders and key business partners that you support will be essential to tackling the ever-changing legal and risk-based challenges we face in a dynamic and fast-paced retail environment.

A role in Third Party Risk Management means providing support and information that empowers Target’s business to make risk aware decisions while advancing important business objectives. You will play a key role in protecting Target’s best interests by ensuring Target understands the risks of specific third-party partnerships.

As a Sr. Third Party Risk Management Consultant, you will:

• Complete third party background due diligence on new potential third parties, including vendors, sellers, and other business partners across Target Enterprise.  Reassess these third parties on a risk-based cadence.  Third Party background assessments include a review of third party reputation, experience, and financial health using both open-source and proprietary tools to identify risk and determine appropriate risk rankings (high/medium/low).

• Provide detailed risk information to Target Relationship Managers (team member responsible for the ownership of the third party relationship) allowing Target to evaluate third party partnerships. This includes providing expert analysis of identified risk(s), clear articulation of how identified risks could impact Target’s business, and an outline of recommended steps for the business to mitigate risk.

• Facilitate risk assessment meetings with Target Relationship Managers when questions arise related to risk ranking results. Maintain a deep understanding of all risks in order to clearly communicate risks and potential impacts to Target.

• Support the content creation of executive risk profiles related to Target’s most critical third parties.

• Perform ongoing monitoring of current third parties by setting specific alerts within TPRM tools. Draft and send alerts to Target Relationship Managers when a risk is identified. Function as a trusted advisor to the business related to the identified risk and mitigation strategies.

• Support the maintenance of risk dashboards, including responding to Target Relationship Manager questions related to dashboard results.

• Apply best practices to identify risks and drive continuous improvement efforts. Support the identification of automation opportunities.

• Support the creation of team objectives and key results, including regular check-ins on progress against those goals.

• Independently determine your approach to work and prioritize based on objective check-ins.

• Contribute and support a positive team culture by demonstrating behaviors consistent with Target’s values of Inclusivity, Connection and Drive as well as the hybrid work model.

Core responsibilities of this job are described within this job description.  Job duties may change at any time due to business needs. 

About you:

• Four-year degree or equivalent experience

• 3+ years of related work experience in third party risk management, risk or compliance.

• Strong interpersonal, verbal, presentation, and written communication skills. Ability to take complex scenarios and communicate them in a way that can be easily understood by team members with limited subject matter experience.

• Ability to apply discretion and sensitivity while working with confidential information.

• Strong understanding of risk management practices, decision-making, and systems, including Archer, Ariba, Supplier Manager (SM), Vendor Management and Maintenance (VMM) Domo, Confluence, and other third-party risk tools.

• Strong proficiency in Microsoft Office (Outlook, Word, Excel, PowerPoint)

• Experience leading projects within your team. Can plan, execute, monitor, and report progress. Facilitates meetings and builds agendas. Participates in cross-functional teams across the enterprise.

• Demonstrated ability to identify process improvements and automation.  Strives for continuous improvement of existing processes.

• Strong interest and curiosity in automation and data analytics.

• Demonstrated history of driving for results, moving initiatives forward, and executing goals and objectives on specific timelines.

Preferred Qualifications:

• Certified Regulatory Vendor Program Manager (CRVPM) designation

Americans with Disabilities Act (ADA)

In compliance with state and federal laws, Target will make reasonable accommodations for applicants with disabilities. If a reasonable accommodation is needed to participate in the job application or interview process, please reach out to [email protected].