Head of Vendor Management

Arlington, Virginia
Sep 06, 2018
Oct 11, 2018
Full Time

The Head of Vendor Management is accountable for the Vendor Management Program at NCB. This individual will transform the currently administratively focused, yet highly effective position, into a strategic function that partners with business units to ensure that vendor and outsourcing decisions align to the bank’s strategic objectives. The role will sustain its accountability to facilitate the identification, measurement, monitoring, and controlling of the inherent risks associated with all vendors or other third party suppliers that provide expertise, products, services, or technology solutions to the bank. This individual will report to the bank’s CIO and must be a proactive self-starter that can easily transition from strategic planning with executives to tactical risk and issue remediation with colleagues and third parties. 

Strategy & Planning

· Strategically partner with business units to align the bank’s strategic goals and objectives to the current capabilities and future roadmaps of existing vendors and potential alternative vendors. Present findings at committees and forums as called upon
· Monitor emerging FinTechs to identify potential opportunities to collaborate and innovate creative solutions for the bank’s customers
· Lead the consolidation of the vendor base where such efforts would yield the greatest benefits to the bank, while encouraging vendors to provide innovative solutions
· Proactively seek opportunities to build rapport and partnership with third parties, to include identifying opportunities to bring vendor experts in to meet with bank leaders, attending relevant vendor and industry conferences, and building relationships with non-competitor peers to share lessons learned regarding specific vendors, solutions, and products 
· Identify issues and emerging risks related to vendors, solutions, and products and bring visibility to appropriate senior leaders to incorporate into strategic planning
· Facilitate cross functional communication and work efforts between vendor managers, vendors, and business unit owners
· Serve as the center of gravity and thought leader for the over 40 relationship managers across the bank who are accountable for complying with bank policy for managing overall vendor risk
· Drive continuous improvement activities by means of root cause analysis and pattern analysis of key vendor issues. Streamline vendor due diligence and vendor related processes, while ensuring proper oversight throughout the entire vendor lifecycle. Collaborate with cross-functional internal and external functions to aid the design and implementation of vendor management policy, process, and procedure enhancements over time
· Gather information, analyze data trends, identify root causes, and provide recommendations to business unit leaders on all vendor related matters
· Lead the development and adoption of corporate vendor management standards and provide support and training to other functional areas in vendor management as needed. This will include interfacing and proactively communicating with key stakeholders from business lines, IT, Legal and other risk groups to increase awareness of vendor management responsibilities and ensure accountability for vendor performance

Operational Management

· Administratively facilitate the identification, measurement, monitoring, and controlling of the inherent risks associated with all vendors or other third party suppliers that provide expertise, products, services, or technology solutions to the bank 
· Drive Vendor Due Diligence and Periodic Review Processes which includes vendor onboarding, coordinating requests for risk information from third party vendors and coordination with vendor review team including Legal, Compliance, Information Security, Business Continuity, Insurance, BSA/OFAC, and Financial Review. Coordinate with business unit relationship managers to complete vendor performance requirements, e.g., quality of service contractual obligations. Escalate to senior management all risk and control issues identified
· Ensure that relationship managers throughout the bank assess vendors across the risk categories defined by the Office of the Comptroller of the Currency (OCC): strategic risk, reputation risk, operational risk, transaction risk, credit risk, compliance risk, and other risks 
· Lend centralized expertise to vendor relationship managers across the bank as it pertains to things such as SOC reports, controls, vulnerability and penetration test results, DR testing results, security reviews
· Monitor internal controls of vendors, maintenance and upkeep of their systems, regulatory compliance, financial condition, and disaster recover
· Maintain a strong technical knowledge of basic legal and regulatory requirements necessary to adequately review and interpret vendor certification documents and determine if they meet regulatory and investor requirements. These will vary by vendor and service but may include such documents as vendor’s SSAE16 SOC Reports, Information Security Policy and practices, Business Continuity / Disaster Recovery Plans, Contract review, required licensing, required insurance, and any other required documentation
· Maintain a very strong knowledge of the many regulatory (FRB, FDIC, FFIEC, OCC, CFPB) and investor (Fannie Mae, Freddie Mac) requirements and ensure “certification” that each vendor meets those requirements
· Monitor productivity and quality performance of critical vendors against contractual obligations to ensure overall effectiveness of vendor provided services; create vendor performance dashboards, scorecards, and/or reports
· Ensure that vendor performance issues and disputes are tracked, managed, and resolved by means of a standardized, reportable process. Manage and report on stakeholder satisfaction related to each vendor relationship. Serve as the primary liaison between select vendors and business units
· Define and report on Key Performance Indicators (KPI’s) for sourcing, vendor due diligence, vendor performance, as well as vendor spend across the organization. Use the KPI’s to increase vendor performance, reduce risks and reduce costs across the vendor portfolio
· Prepare and maintain reports and metrics for the board, executive leadership team, risk committees, business units, relationship managers, and auditors
· Engage with accounts payable team to ensure that all vendors are properly set up in the AP system
· Own the utilization and maintenance of supporting vendor management systems

Qualified individuals will possess the following attributes:

· Bachelor's Degree, Master’s Degree preferred  
· Minimum 5 years of experience (10 years preferred) in strategy consulting, vendor management, project management, or strategic sourcing
· Must have outstanding people skills and the ability to directly interact and communicate effectively across all levels of the organization
· Must demonstrate a strong leadership presence and serve as a go-to person for the bank’s business units and leadership regarding vendors supporting both projects and day to day operations
· Must have strong analytical skills and the ability to create and maintain metrics and reports
· Must have the ability to rapidly learn, administer, and champion new systems in support of vendor management
· Must be willing to travel to remote offices, vendor locations, and conferences in support of duties
· Must be willing to serve as a strategic individual contributor, joining ad hoc teams for limited durations to accomplish specific outcomes
Must be very proactive in understanding and staying up-to-date on the current projects in progress, projects in pipeline, and operational issues. Similarly, must stay up-to-date with industry technology trends and applicability of software/hardware solutions to the bank’s objective

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