Director, Vendor Management

 _______________________________________________________________________________________     GENERAL SUMMARY: Plans and directs all aspects of the organization’s vendor management and contract administration function. Works closely with business line managers to identify potential vendors and negotiate vendor contracts, service level agreements and management reports. Oversees the preparation of reports and monitors the process. Ensures policies and procedures and regulatory guidance pertaining to vendor management are properly adhered to. Familiarizes and trains business managers on a variety of concepts, practices and regulations regarding the vendor management process. Is responsible for the oversight of vendor management including, but not limited to, controls, training, tracking, management reporting, policy and procedures.      MAJOR JOB ACCOUNTABILITIES:   1. Contract Negotiation and Contract Review Works with business units to identify product and service needs. Evaluates needs to develop a negotiation strategy and provides alternative solutions to benefit both the client and the Bank.Compiles information from periodicals, catalogs, and other sources to remain informed on industry products, services and pricing trends. Develops appropriate service standards and identifies expense-reducing opportunities. Reviews proposals, negotiates prices, selects or recommends suppliers, analyzes trends.Drafts RFP’s, RFI’s and other proposals. Drafts standard agreements and amendments to contracts when required. Coordinates with internal counsel for drafting of non-standard agreements and review of specific contract types, amounts and issues. Reviews contractor performance for compliance with contract terms and conditions.   2. Contract and Risk Management Implements and maintains a system for centralized contract management. Tracks and monitors contract changes, deliverables, renewals, correspondence and risks and maintain associated documentation. Establishes risk rating levels and diligence requirements. Establishes and maintains a risk assessment policy and procedure to identify, quantify, review and monitor various risks associated with vendor relationships and contracts. Maintains a risk-rated vendor review system designed to regularly monitor contracts for contractual and regulatory compliance and alerts the organization of potential associated risks. Oversees the evaluation and selection of vendors to ensure policies and procedures are followed. Advises business line and project managers on contract requirements, diligence requirements and regulations. Implements and enforces vendor management policies and procedures. In conjunction with Internal Audit, develops scope and frequency of internal monitoring and incorporates into regularly scheduled reviews.    3. Communication and Training Works with departmental representatives to implement vendor management practices and procedures that conform to risk management requirements. Works closely with line managers and business units on vendor due diligence as prescribed by policy. In conjunction with Regulatory Management, reviews, interprets and communicates regulatory changes affecting vendor management. Works with Training and Organizational Development to develop and conduct training as needed.    4. Management and Board Reporting Determines frequency and reporting for executive management and board of directors. Creates reporting templates for monitoring and reporting vendor performance. Provides necessary reports for internal and external auditors and regulatory examiners. Modifies reporting as new vendors are added or the regulatory environment changes. Assists managers with development of vendor reporting tools. Ensures management reports are completed timely and accurately by line managers.       KNOWLEDGE, SKILLS, AND ABILITIES:   Professional level of knowledge as attained by a minimum of a 4-year college degree (or equivalent), with a thorough background in vendor management and banking. Minimum five (5) years banking and/or vendor management or contract administration experience. Demonstrated ability to read and interpret contract language and knowledge of contract components. Ability to apply a wide degree of creativity and independent judgment to the vendor management process.   2. Ability to manage company wide projects and strategic initiatives. Required to manage and direct individuals who are overseeing projects. Must demonstrate extensive experience and judgment to plan and accomplish goals. Ability to effectively motivate and lead others. Excellent negotiation and customer service skills required. Familiarity with a variety of concepts, best practices and vendor management policies and regulations.   3. Ability to effectively communicate complex information from diverse sources to all levels of internal and external publics, both written and orally, is required. Must possess strong written and verbal communication skills. Ability to prioritize tasks and handles multiple priorities required.    4. Work requires extensive internal and external contacts at all levels involving a high degree of diplomacy, tact, judgment, timing, and persuasion. Contacts involve dealing with persons or groups on matters of major impact and importance.    5. Plans and performs complex work involving new or changing situations. Involves formulation and carrying out policy and procedures. Considerable creativity and judgment required to handles various situations.   EOE/AA