Vendor Process Analyst

Key Responsibilities

• Execute the Third-Party Service Provider Manual and Related Sub-Processes
• Serve as a primary point of contact for vendor management questions and issues.
• Provide organizational support regarding vendor policy and procedures.
• Manage cross-functional teams monitoring vendor performance, cost, contracts, and risk.
• Prepare documents and participate in internal and external discussions regarding vendor management.
• Comply with cross-functional policies that impact service provider oversight, including complaints, servicing & collections, and information security.

SPO Process Oversight

• Conduct market research, due diligence, vendor selection, contract execution, onboarding, maintenance, and termination.
• Maintain professional communication with external vendors.
• Provide weekly status updates on the initiative/task pipeline.
• Compile task lists and facilitate recurring meetings with stakeholders.
• Maintain organized Vendor Management Office files in accordance with record retention policies.
• Respond to ad-hoc requests during audits or examinations.
• Manage a centralized Outlook email box and respond to internal/external inquiries.
• Perform additional tasks as assigned.

Vendor Relationships & Performance Measurements

• Help measure vendor performance and goal accomplishments to ensure service levels are met.
• Work with vendors and internal teams to establish and monitor service-level agreements and contract terms.
• Vendor Documentation Review, modify, and negotiate contracts.
• Work with legal and business owners to create and finalize vendor contracts and Statements of Work (SOWs).
• Develop standardized contract/agreement language with the Legal Department.
• Negotiate pricing and agreement terms collaboratively.

Competitive Bidding, Negotiations, and Cost Reduction Initiatives

• Follow all sourcing, selection, and vendor management policies.
• Maintain RFP documentation to align with business goals.
• Carefully coordinate and possibly manage the RFP process.
• Analyze and summarize RFP responses.
• Support vendor recommendation decisions in conjunction with the project team.

Project Management

• Provide project management support when vendor involvement is critical to project success.
• Act as a trusted advisor for sourcing strategies aligned with business objectives.
• Manage vendor selection through competitive bidding.
• Facilitate vendor risk management, due diligence, and onboarding.
• Guide business partners through complex contracts and vendor principles.
• Utilize templates to draft comprehensive and protective contracts.
• Help resolve vendor disputes and assist in terminations.
• Present updates and resolve issues effectively to management.

Requirements

• Minimum 2 years of sourcing/vendor management experience (including contract writing, vendor selection, bidding, negotiations, and performance management).
• At least 1 year of project management experience.
• Strong skills in writing, negotiation, leadership, communication, interpersonal interaction, and analysis.
• Independent and self-motivated with creative problem-solving abilities.
• Financial services industry experience preferred.
• Familiarity with contracting systems, vendor management platforms, and diverse vendor recruitment.

Education

• Bachelor’s degree with 2+ years of relevant experience/training, OR Associate’s degree with 4+ years of related experience/training.
• Paralegal background preferred.
• Proficiency in project management tools, Microsoft Office Suite (Word, Excel, PowerPoint), and SharePoint.
• Ability to create data visualizations in Excel (e.g., pivot tables, charts).
• Understanding of financial services regulations, FFIEC auditing standards, and CFPB guidelines preferred.
• Experience working with federal/state regulations in tech, operations, and data protection.
• Strong integration and communication skills to foster collaboration with internal and external stakeholders.
• Diplomatic with a demonstrated ability to build effective vendor relationships.
• Familiarity with sourcing and vendor management best practices.