We prove that the cohomology jump loci of rank one local systems on the complement in a small ball of a germ of a complex analytic set are finite unions of torsion translates of subtori. This is a generalization of the classical Monodromy Theorem stating that the eigenvalues of the monodromy on the cohomology of the Milnor fiber of a germ of a holomorphic function are roots of unity.