Vendor Management Administrator

Position Overview

This position is primarily responsible managing the Third-Party Vendor Management function for the Bank. This includes providing oversight of the Bank’s Vendor Management Program (VMP) and monitoring third-party vendor relationships to ensure services are delivered in compliance with bank policies, regulatory requirements, and contractual obligations. This role supports risk management, vendor compliance, and monitoring of vendors that provide critical services to the bank.

Position Responsibilities

• Managing end-to-end vendor lifecycle, including vendor assessments, contract execution and documentation, performance monitoring, and offboarding
• Ensuring vendor relationships comply with bank policies, internal controls, and regulatory requirements (e.g., OCC, FDIC, FFIEC guidelines if applicable)
• Managing vendor risk assessments, including financial, operational, cybersecurity, and compliance risks
• Tracking and evaluating vendor performance against SLAs (Service Level Agreements) and KPIs
• Working with Senior Management, department managers, IT, and Risk teams during vendor selection and review processes
• Reviewing contracts, amendments, and renewals in partnership with Senior and department Management
• Maintaining accurate vendor inventory and documentation in vendor management systems
• Identifying cost-saving opportunities and supporting vendor consolidation initiatives; escalating vendor issues and ensuring timely resolution of service disruptions
• Managing internal and external audits related to vendor management activities
• Monitoring concentration risk and ensuring appropriate diversification of vendors
• Reporting progress / results of the annual due diligence as required by the Bank’s VMP
• Participating in other Risk Management related projects, as assigned

Qualifications

• BS/BA degree preferred
• 2-7+ years’ experience in vendor management, procurement, risk, or operations (banking/financial services preferred)
• Experience in quality control, risk management or internal audit would be helpful
• Strong understanding of third-party risk management frameworks
• Experience with contract review and SLA management
• Familiarity with regulatory expectations for financial institutions is a plus
• Strong analytical and communication skills
• Proficiency in vendor management systems
• Strong project management, teamwork, and analytical skills
• Must have the ability to exercise good judgment and maintain high levels of responsibility
• Must have the ability to meet deadlines, be detailed oriented, and have strong written and verbal communication skills
• Must have an above average skill set with Excel, Word and database management
• Professional designations such as Certified Regulatory Vendor Program Manager (CRVPM), Supplier Relationship Management (SRM), or similar are a plus