Job Description

Position Summary

Reporting to the Head of Procurement, the VP, Vendor Management is responsible for (1) overseeing the Vendor Management program (2) implementing Vendor Management processes, policies, standards, and technologies (3) creating mechanisms to monitor and enforce ongoing compliance to those policies and standards (4) risk rating vendors to ensure that they meet the defined standards (5) developing and promoting awareness and training to the Vendor Management program. Strong knowledge of vendor management practices coupled with excellent communication and diplomacy skills are required for success.

Essential Duties & Responsibilities

  • Develop and implement a Vendor Management strategic plan that addresses any risk mitigation and efficiency gaps within the existing Vendor Management Program.

  • Refine, develop and implement policies, procedures, and controls to ensure compliance with regulatory requirements and internal standards.

  • Maintain a vendor risk management framework, including risk assessment methodologies, risk rating criteria, and ongoing monitoring mechanisms.

  • Facilitate continuous improvement of the program and risk mitigation efforts - including evaluating and selecting appropriate methods and tools to assist in this endeavor.

  • Serve as a subject matter expert on vendor management best practices, regulatory requirements, and industry standards, and provide guidance and training to internal stakeholders.

  • Develop Vendor Relationship Management program, monitor and manage the overall performance of vendor products and services purchased by Triumph Financial.  Develop requirements and measurements to monitor and achieve continuous performance improvement for critical vendors.

  • Collaborate with internal audit, legal, compliance, risk, and other relevant departments to address vendor-related issues and ensure alignment with organizational goals and objectives.

  • Foster a culture of accountability, transparency, and continuous improvement within the vendor management function.

  • Engage with and influence senior level stakeholders and business unit leaders to promote excellence in identifying and managing risks present within third party relationships.

  • Provide vendor management guidance and expertise to vendor owners in order to promote adoption of vendor management policies and standards - including forming a strong understanding of product and service delivery objectives.

  • Develop, prepare and provide ongoing reporting of the vendor program including operational metrics and emerging risks to appropriate committees.

  • Monitor contractual and other key vendor documents to ensure vendor owners are aware of key dates associated with vendor oversight (e.g., contract and insurance expiration, etc.).

Experience & Education

  • Bachelor’s degree in Business, Management Information Systems or related field or equivalent work experience

  • 5 years vendor management experience in a professional environment supporting multi-function business units.

  • Strong familiarity with vendor management software tools, methodologies, and best practices

  • Strong familiarity with regulatory vendor management requirements and best practices, preferably in the financial services industry including, but not limited to, FFIEC Guidelines and Consumer Compliance requirements.

  • Maintain an awareness of all regulatory requirements and risks associated with vendors and the services they perform, including providing recommendations to vendor owners, as appropriate.

  • Maintain an awareness of emerging risks related to existing or potential third-party relationship from external sources (e.g., negative news reports, complaints, reports of exams, mergers and acquisitions, independent audit/testing reports, etc.).

  • Determine appropriate timelines and deliverables for vendor due diligence documentation and review with the goal of facilitating appropriate reviews by internal risk partners (e.g., financial statement analysis, information security standards, business continuity and disaster recovery standards, consumer compliance standards, legal reviews of contracts, etc.).

Skills & Abilities Required

The successful candidate will possess vendor management program oversight and process improvement experience and skills, leadership, analytical, and critical thinking skills with a strong aptitude for attention to detail.  Additionally, the ideal candidate should possess the following:

  • Proven track record of leadership and success in developing and implementing vendor management programs, policies, and procedures.

  • Strategic thinker with a results-oriented mindset and a commitment to driving continuous improvement and innovation.

  • Highly developed communication skills.

  • Demonstrated experience with leading change and the development of a Center of Excellence.

  • Strong program improvement skills with ability to work on multiple deliverables simultaneously.

  • Strong organizational, prioritization and time management skills demonstrating self-motivation and reliability with a drive to hit performance targets in a fast-paced environment.

  • Ability to work with minimal supervision.

  • Strong collaborative skills and demonstrated ability to build consensus among stakeholders.

  • Ability to sift through details quickly and determine what’s important.

  • Passion for helping the organization deliver on strategic objectives while effectively managing risks.

  • Creative problem solving, flexibility and adaptability is crucial to the success of this role.

  • Proficiency in Microsoft Excel, Smartsheets, PowerBI and other relevant software applications for data analysis and reporting preferred.

Work Environment

The work environment characteristics described here may be encountered while performing the essential functions of this role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Moderate noise (i.e., business office with computers, phone, and printers, light traffic).

  • Ability to work in a confined area.

  • Ability to sit at a computer terminal for an extended period of time. Occasional stooping or kneeling may be necessary.

  • While performing the duties of this job, the employee is regularly required to stand, sit, talk, hear, and use hands and fingers to operate a computer keyboard and telephone.

  • Specific vision abilities are required by this job due to computer work.

  • Regular, predictable attendance is required.

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Application Instructions

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