Role:
The Vendor Management Specialist manages the Credit Union's third-party vendors to include, but not limited to establishing and coordinating risk management activities of those third-party vendors. The responsibilities of this position will require extensive interaction with both internal and external relationship owners. Will maintain and track all vendor contracts for the company, managing contract terms and help to ensure the Credit Union complies with contractual obligations including but not limited to notices, payments, and certifications.
Essential Functions & Responsibilities:
Facilitates the Credit Unions third party vendor management program by practicing due diligence and effective risk management processes that are commensurate with the level of risk and complexity of its third-party relationships and the Credit Unions organizational structure.
Acts as primary operant for vendor management software. Maintains and updates all vendor documentation within the software. Updates, renews, and cancels vendor contracts as needed.
Collaborates with Internal Audit and business unit managers to ensure periodic risk assessments are completed, documented, and recommendations implemented if necessary.
Reviews and audits vendor documents to ensure compliance with applicable federal and state laws, rules, regulations, and SFCU policies and procedures. Maintains knowledge of applicable federal and state laws, rules, regulations, and SFCU policies and procedures.
Supports implementation, enforcement and continuous improvement of Vendor Management policies, procedures and guidelines. Creates procedural documentation and job aids for utilization by business units.
Resolves contractual and interpretive differences between vendors and business units. Assists with preparing vendor documents and reports.
Performs other job related duties as assigned.
Knowledge and Skills:
Experience Five years to eight years of similar or related experience.
Education (1) A two-year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through an apprenticeship program.
Interpersonal Skills Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
Other Skills Advanced knowledge of applicable federal and state laws, rules and regulations. Significant experience in vendor management, contract management, risk management, audit and/or compliance. Advanced knowledge of banking/financial industry trends, products and services. Significant experience working with all levels of staff, management, stakeholders, vendors. Significant experience managing multiple priorities independently and/or in a team environment to achieve goals. Advanced skill exercising initiative and using good judgment to make sound decisions. Advanced research, analytical, and problem solving skills. Advanced skill maintaining accuracy with attention to detail and meeting deadlines. Demonstrates carefulness about detail and thoroughness in completing work tasks. Significant experience evaluating and examining policies, procedures, business documents, IT Security, and regulatory compliance controls. Advanced skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations. Advanced database, word processing and spreadsheet software skills.
Physical Requirements The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to talk or hear. The employee is frequently required to stand; walk and sit. The employee is occasionally required to use hands and reach with hands and arms. The employee must occasionally lift and/or move up to 30 pounds.