Sr. Vendor Risk & Relationship Specialist
- Location: Chicago, IL
- Job Type: Direct Placement
- Ref No: 22-06280
- Date: October 03, 2022
- Pay: $80000.0 - $100000.0 per Year USD
Job Description - Sr. Vendor Risk & Relationship Specialist
TITLE: Sr. Vendor Risk & Relationship Specialist
Location: Chicago, IL
Seeking a Sr. Vendor Risk & Relationship Specialist, that has experience with banking applications, reporting tools, working in a Agile/Scrum Environment. This person will support the Bank in applicable contract review and negotiations with supported applications/vendors.
Client offers a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of employees. There is a retirement program that includes a 401K and Pension, along with a generous PTO plan providing five weeks of vacation for new employees and 11 paid holidays per year.
What You'll Do:
- In this role, you'll support the management of vendor relationships with business partners through vendor classification and governance activities to actively manage of vendors by controlling costs, driving service excellence, mitigating risks, and lowering total cost of ownership while gaining increased value from its vendors through the entire lifecycle of the asset, service or vendor engagement.
- You will act as a subject matter expert for vendor management and provide continuous support to the business related to ongoing monitoring of the active vendor relationships.
How You'll Make and Impact:
- You will support and conduct risk-based processes related to vendor monitoring processes
- You will provide guidance and subject matter expertise to the business to ensure compliance with strategic sourcing and vendor management policies and procedures
- You will develop and maintain working relationships across lines of business and with technical, audit, compliance, security and legal team
Skills / Experience You Will Need:
- Monitor and report on vendor performance against contract requirements, including SLA and other key performance indicators
- Provide guidance to, and ensure compliance with strategic sourcing and vendor management policies and procedures, as required by the business owner
- Support and conduct risk-based processes related to vendor ongoing monitoring processes, including but not limited to vendor classification, periodic risk assessments and due diligence activities (information security, financial, and SOX SOC1 assessments, business/SLA reviews), vendor termination
- Support the management of key Strategic Supplier relationships within business operations to enable innovation and cost containment and support future requirements, ensuring supplier relationship management processes are followed
- Ensure the vendor management activities follows regulatory guidance
- Conduct annual review of vendor portfolio to ensure accuracy of data
- Assist in conducting supplier performance review meetings; managing supplier scorecards, contract compliance and service obligations
- Assist in the development of a management reporting package of critical IT vendor management metrics
- Application of industry practices and concepts to the above areas
- Ensure agreed upon business objectives are met and are in line with business expectations
- Proactively manage internal and external customer expectations
- Assist in the development of a management reporting package of critical business vendor management metrics
- Develop and maintain working relationships across lines of business and with technical, audit, compliance, security and legal team as required
- Conduct the diverse vendor certification process to ensure the accurate status of diverse vendors with supporting documents
What you'll bring:
- Bachelor's degree
- 3-5 years of vendor risk and relationship management experience; with an emphasis in IT related concepts, practices and procedures a plus
- Strong analytical skills
- Knowledge of commonly used vendor management practices
- Strong communication, organizational and professional interpersonal skills, attention to detail, and a high-level of integrity and dependability
- Collaborative mindset and customer service mentally
- Results orientation and problem solving skills
- Strong communication skills, written and verbal
- Strong organizational and analytical skills with the ability to multi-task
- Able to influence others across the organization without authority
- Experience in Banking industry, a plus
- May perform other duties as assigned
About Infinity Consulting Solutions
At Infinity Consulting Solutions our mission is to cultivate successful long term relationships with candidates and clients matching the right candidate with the right client. We believe technology cannot replace the real personal relationships we cultivate. We reject the notion that technology alone is the answer to staffing which is why we our successful partnerships rely on collaboration NOT automation. ICS has been providing flexible staffing solutions for over 20 years in Information Technology, Compliance, Accounting / Finance and Corporate Support. Our staffing solutions include Contract, Temp to Perm and Permanent Placement.
ICS is an Equal Opportunity Employer.