Vendor Analyst I Biloxi 5181

About the role

This position will be responsible for managing relationships with vendors and business stakeholders. Assists with issue escalations and monitoring of vendor performance to ensure compliance with contracts and service level agreements. Serves as a subject matter expert for business functions, systems, policies and/or procedures. Provides support analyzing procurement and vendor data and providing detailed reports.

Responsibilities

• Inspect deliverables, budgets and financial statements, applicable license requirements, insurance, etc., to ensure vendors maintain key service provider status.
• Afford senior management in ensuring all ongoing monitoring components are updated to correlate with their review period dates. Ex. Risk assessments, due diligence documentation, performance reviews, and vendor classifications, etc.. to maintain an active vendor management database.
• Works directly with senior management to risk rate vendors using the defined Vendor Management methodology. For technology service providers, coordinate with Information Security to ensure Service Organization Controls in place are sufficient to mitigating risks.
• Maintain records of qualified vendors for services within assigned area of responsibility; escalate vendor risk and compliance issues to the appropriate entity.
• Acts as the second line of defense by providing expertise, support, monitoring, and challenge on third party risk related matters while overseeing the vendor lifecycle.
• Review contract terms and conditions, renewal/termination provisions and evaluate vendor performance to make and support recommendations.
• Support implementation, enforcement and continuous improvement of Vendor Management policies, procedures and guidelines.
• Review and audit vendor documents to ensure compliance with applicable federal and state laws, rules, regulations, and KFCU policies and procedures.
• Evaluate and interpret vendor documents and forward them to the appropriate departments for SME approval.
• Coincide with the Project Management Department to support the establishment of new products and services to support all credit union departments.
• Manage the vendor contract database keeping it accurate and current.
• Maintains user access to all software platforms in place for vendor management.
• Resolve contractual and interpretive differences between vendors and business units by involving and external legal counsel.
• Prepare periodic verbal and written updates of the Vendor Management Program.
• Identify opportunities to consolidate services for cost savings.
• Maintain knowledge of applicable federal and state laws, rules, regulations, and KFCU policies and procedures.
• Aid in preparing vendor documents and reports for senior management meetings.

Requirements

• Bachelor’s degree in business or related field preferred or equivalent combination of education and experience.
• Three to five years financial institution experience required.
• Vendor Management related experience preferred.

Skills

• To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
• The requirements listed below are representative of the knowledge, skills and/or abilities required.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Knowledge and Skills

• To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
• The requirements listed below are representative of the knowledge, skills and/or abilities required.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Experience

• Bachelor’s degree in business or related field preferred or equivalent combination of education and experience.
• Three to five years financial institution experience required.
• Vendor Management related experience preferred.

Other Requirements

• Must be able to manage several priorities simultaneously, establish and meet deadlines, coordinate activities with other departments, and perform job with accuracy and attention to detail.
• Must possess in-depth analytical skills, as well as be able to evidence accuracy and attention to detail.
• Must be a self-starter and highly motivated.
• Working knowledge of applicable federal and state laws, rules and regulations.
• Working knowledge of banking/financial industry trends, products and services.
• Experience working with all levels of staff, management, stakeholders, and vendors.
• Experience managing multiple priorities independently and/or in a team environment to achieve goals.
• Effective skill exercising initiative and using good judgement to make sound decisions.
• Effective research, analytical, and problem-solving skills.
• Effective skill maintaining accuracy with attention to detail and meeting deadlines.
• Effective skill communicating with all levels within an organization.
• Effective organization, planning and time management skills.
• Experience evaluating and examining policies, procedures, business documents, IT Security, and regulatory compliance controls.
• Effective skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations.
• Ability to work independently and in a team environment.
• Effective skill interacting tactfully and effectively in difficult situations.
• Effective skill building effective relationships through rapport, trust, diplomacy and tact.
• Experience collaborating across organization boundaries and building partnerships across various functions.
• Effective verbal and written communication skills.
• Effective database, word processing, and spreadsheet software skills.