15 days old

Director of Vendor Management

Ent Credit Union
Colorado Springs, CO 80903
  • Job Code

Under broad direction of General Counsel, the Director of Vendor Management will facilitate and maintain vendor relationships between vendors, businesses, and suppliers. The Director of Vendor Management will be responsible for creating enterprise-wide vendor standards, finding the best available vendors, negotiating contracts, maintaining relationship with all Ent vendors, and performing annual financial and performance review of vendors.

The Director of Vendor Management stays on top of industry and competitive trends and is able to execute at both a tactical and strategic level to drive selection and pricing. In addition, the Director of Vendor Management must be an effective leader and communicator in working with Ents partners and vendors, as well as with all internal departments.

Essential Job Duties and Responsibilities:

Develop and maintain RFP and due diligence procedures

  • Work across the organization, with every line of business;

  • Research vendors to find the best products and prices available within a given market;

  • Establish standards and guidelines for vendors, monitoring vendors to ensure these policies are being followed;

  • Conduct and assist with interviews and meetings between potential vendors and Ent contract and vendor owners;

  • Advise Ent contract and vendor owners regarding costs and benefits of each potential vendor;

  • Ensure enterprise-wide needs for due diligence, risk assessment, and continuing vendor monitoring are being accomplished;

  • Leverages agreements, and consolidates multiple agreements to improve pricing and increase efficiencies

Insurance Liaison

  • Ensure Ent Credit insurance coverage is sufficient with the credit unions current risk profile and is expanded when necessary to address evolving or emerging risk.

  • Review and determine effectiveness of internal processes associated with annual coverage analysis, claims processing, disaster recovery planning requirements and insurance documentation repositories.

  • Negotiate coverage requirements with agents.

Negotiate Contracts

Work with Contract Review Specialist to negotiate all contracts, NDAs, EULAs, SLAs, and all other types of agreements

Maintain Relationships

  • Cultivate and maintain relationships with vendors by communicating with them, and contract and vendor owners, frequently to answer questions and check their satisfaction levels;

  • Ensure to track, measure, report and evaluate vendor performance;

  • Troubleshoot all vendor problems and present to management as required;

  • Identify improvement areas internally as well as perform closely with all internal stakeholders to prepare solutions;

  • Identify and implement continuously enhance efficiencies associated with vendor management;

  • Review and evaluate appropriate audit and security assessments are completed for critical vendors;

  • Ensure contract owners are aware of and comply with User Organization Controls;

  • Monitor and advise on implementation of Vendor relationships;

  • Coordinate with Internal Audit and / or Risk Management for assurance evaluations.

Other duties as required

Minimum formal education required for this position:

Knowledge consistent with a Bachelors Degree in Sales, Marketing, Supply Chain Management, Risk Management, Project Management, Business Administration or related field of study.

Each year of relevant work experience may be exchanged for a year in a relevant degree program or vice versa. For example, a requirement of Knowledge Consistent with a Bachelors Degree in Accounting and 2+ years of accounting experience could be substituted for a High School Diploma and 6 years of relevant accounting work experience or a Masters Degree in Accounting and 0 years of work experience.

Minimum work experience:

8+ years vendor management, risk management, or project management experience supporting general corporate practices

(Preferred) 6+ years relevant experience supporting financial services practices

Technical or specialized knowledge/skills:

  • Knowledge of business English, spelling, punctuation, grammar, and basic legal terminology.

  • Ability to organize and prioritize tasks, while working effectively under pressure to meet deadlines.

  • Knowledge of general research techniques and the use of software systems available for conducting research.

  • Strong problem solving skills.

  • Ability to communicate effectively, both orally and in writing with high attention to detail.

  • Ability to establish good rapport with various areas of the organization and outside counsel.

  • Strong understanding of the credit union or financial services industry and the products and services of the company.

  • Ability to operate well with all levels of corporate professionals.

  • Able to adjust communication style to match the audience being addressed.

  • Able to explain complex concepts and terms in relatable ways to build understanding and acceptance of regulatory changes that may be required.

  • Commitment to outstanding performance.

  • Demonstrates a strong orientation towards customer service.

  • Strong computer skills in the use of software systems such as Word, Excel, Power Point and Outlook.

  • Strong sales skills to hire vendors and monitor sales trends.

  • Interpersonal skills to interact with a variety of vendors, speaking with people of all ages and backgrounds.

  • Critical thinking to determine the best vendor prices and products available.

  • Use written communication skills to write reports, vendor guidelines, and contractual language.

  • Negotiation skills to discuss new contracts and rewrite existing contracts with vendors.

  • Multi-tasking to interact with several vendors every day and manage many different daily tasks.

Certifications required:

  • None required.

  • (Preferred) Certified Regulatory Vendor Program Manager (CRVPM) or similar certification

Environmental, physical and psychological requirements:

Must be able to sit or stand for prolonged periods of time in a climate controlled environment. Must be able to use fingers, hands, wrists for repetitive tasks such as typing, using a mouse, handling paper, and operating a telephone. Demands for visual and auditory acuity are typical of an office environment. Must be able to interact via email, telephone, or in person with diplomacy, tact, and courtesy with all members under varying circumstances. Must be able to lift up to 40 lbs

Posted: 2020-01-08 Expires: 2020-02-06
Sponsored by:
Farm Credit Services of America Logo
Sponsored by:
Bank of America Logo

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Director of Vendor Management

Ent Credit Union
Colorado Springs, CO 80903

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