Vendor Management Specialist Jobs

Role

Responsible for implementing, maintaining, and administrating the Vendor Management Program of the organization. Serves as the administrator for the Risk Management Program and responsible for researching, developing, and implementing appropriate risk management tools to identify, assess, report, and monitor risks across the credit union and in various business and strategic initiatives. Ensures that identified risk exposures are properly mitigated and appropriate risk action plans are implemented as appropriate throughout the organization.

Major Duties and Responsibilities

• Serve as a point of escalation for vendor issues and disputes and drive those issues to resolution.
• Participates/guides in the negotiation process of service level agreements, ensures that contractual obligations are achieved, and initiates contract changes when required. Responsible for ensuring compliance of negotiated agreements relating to Core Operations services and products.
• Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
• Prepares and analyzes reports for management on the Vendor Management Program.
• Establishes a time frame for ongoing vendor due diligence reviews of our existing vendors, following up with managers to ensure that appropriate due diligence reviews are conducted as required based on risk rating.
• Performs other duties as assigned.
• Collaborate with Core Operations functional leaders to develop criteria and best practices for vendor selection.
• Works with Senior Management to provide subject matter expertise in the creation, implementation, and maintenance of appropriate risk management tools, policies, and procedures to be compliant with applicable rules and regulations and industry best practices. Proposes updates to management regarding vendor management policies and procedures as necessary to ensure compliance and best practices, disseminating information to management as necessary.
• Responsible for optimizing vendor relationships through contract management, financial and quantitative analyses and relationship management, effectively creating mutually beneficial opportunities.
• Ensures that the organization maintains appropriate and well-managed third-party vendor relationships across the organization. Ensures that appropriate due diligence is exercised in all phases of third-party relationships. Works with managers to ensure that they are holding vendors accountable for their actions in relation to our contract and service agreements.
• Responsible for ensuring all vendor contracts and documents are received in a timely manner.
• Ensures thorough documentation that all vendor contracts are in line with our vendor management policy and are reviewed by the vendor relationship manager on a routine basis for continual compliance.
• Ensures completion of risk assessments on all current and future relationships and contracts with third-party service providers to ensure that organization maintains strong working relationships that serve to benefit the organization, and its employees and customers.

Experience

• Two to Five years of similar or related experience, including time spent in preparatory positions.

Education/Certifications/Licenses

• Minimum of a high school diploma or GED required. College degree or certification preferred.

Interpersonal Skills

• A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.

Other Skills

• Able to manage risks both at the micro and macro levels. Ability to identify issues and work them to closure, including remediation and escalation where appropriate. Strong data analytical skills and understanding of MS Excel, MS PowerPoint, and Governance Risk Compliance system (GRC). Effective in response to shifting priorities and assignments and ability to meet deadlines and expectations. Effective in delivering messages across a wide spectrum of individuals at credit union having varying degrees of technical understanding. Strong interpersonal skills in ability to establish relationships with internal partners to build consensus, and able to deliver various types of messages to internal and external parties

Physical Requirements

• Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.

Working Conditions

• Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.

Mental and/or Emotional Requirements

• Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.