• Vendor Manager

    Location US-IL-Downers Grove
    Business and Financial Operations - Financial Specialists
    Regular Full-Time
  • Responsibilities

    Summary:  This position is responsible for the management of key Suppliers and business relationships. Specific functions include; strategic supplier alignment, vendor selection, resourcing, contracting, performance management, relationship management and implementation of company strategies supported by vendors. Coordination with internal areas and vendors to ensure vendor is meeting business expectations and contractual obligations, metrics and measures, financial management, contract management, and strategic realignment.

    Essential Functions:

    Reasonable accommodations may be made to enable individuals with disabilities to perform the following essential functions.

    • Collaborate with division leaders and subject matter experts regarding vendor strategy, contract renewals, risk and criticality assessments, and new initiatives
    • Drive the contracting process with division leadership, ensuring company requirements and appropriate Service Level Agreements are included
    • Monitor contractual Service Level Agreements
    • Manage the day to day vendor management processes and procedures and ensure compliance with corporate policies and guidelines
    • Work with suppliers to identify and address any performance gaps or contract risks
    • Develop strong relationships with key business areas and other support functions to ensure vendor management and sourcing is understood and managed appropriately
    • Maintains vendor management tracking databases and evaluates vendor management software solutions
    • Serve as primary contact for vendor and the business for any vendor operational and performance issues, and drive resolution
    • Coordinate with division leaders the initial and ongoing due diligence and monitoring activities for vendors to ensure compliance with the Vendor Management Policy. Report outcomes of diligence activities to division leaders.
    • Maintains vendor management policy and program standards in light of FFIEC Guidelines and the needs of the bank
    • Drive ongoing vendor business review meetings
    • Audit vendor invoices for accuracy and ensure proper systems are utilized for vendor invoicing


    Required Education and Experience:

    • 5+ years of vendor management, sourcing, or project management experience;
    • Understanding of vendor management concepts, vendor governance, FFIEC Guidelines for vendor management, and performance monitoring;
    • Experience in third party dispute resolution and managing vendor SLAs and other contractual commitments;
    • Knowledge of contracting process;
    • Excellent written and oral communication skills;
    • Strong analytical skills;
    • Strong interpersonal and relationship building skills;
    • Proficient in the use of MS Office products (Word, Excel, PowerPoint) and Outlook, as well as the use of web applications;
    • Bachelors degree or equivalent work experience.

    Requirements for performing Essential Functions:

    On the job the employee may physically be required to bend, sit, stand, walk, use finger movements, reach above shoulder level, and/or handle objects (manual dexterity).  On the job the employee must mentally be able to read/comprehend, write, perform calculations, communicate orally, reason, and analyze.




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