This position is responsible for vendor service delivery governance, overseeing the performance of contracted vendors across the enterprise, and risk management in support of the organization’s strategic Sourcing/Procurement & Risk Management Programs.
Duties include analyzing vendor performance to assess compliance-to-contract, identifying contract performance deficiencies or areas of performance improvement and corresponding actions such as remediation plans, tracking contracted service levels and remedies. In addition, this position monitors & evaluates vendor risk at each of the 4 stages of the procurement lifecycle: pre-engagement, contracting, post-engagement, and contract termination.
- Serves as the point of contact for vendor performance & Risk Management framework to ensure oversight of its vendors. This includes performing risks assessments, monitoring risks presented by vendors, completing reviews of critical vendors, providing guidance on improvements, reporting on vendor performance to contract along with performing appropriate and timely follow-up of outstanding due diligence items.
- Addresses reported risk events, potential risk areas, and ensure these are appropriately mitigated, and the mitigation and/or remediation plans are adequate and stored in the appropriate repository
- Performs annual risk assessment and control assurance activity for existing vendor relationships as per policy. Provides guidance to business (vendor) relationship managers on risks and controls gaps and document results according to Supplier Oversight Policy and Procedures.
- During the initial onboarding and ongoing basis, facilitate vendor assurance tasks such as conflicts, financial viability (based on input from VM staff), operational stability, IT security and data privacy, and disaster recovery and business continuity capabilities. Identify areas of risk and deficiencies for correction and collaborate and follow through with business partners and vendors for resolution.
- Conduct and / or participate in account reviews with external vendors to ensure business relationships are fostered and maintained.
- In consultation with business partners and VMO team, develop annual objectives for selected vendors with the goals of reducing costs, improving performance, and/or driving efficiencies.
- Review vendor assignment or work suspension / termination protocols developed by business partners, providing input to improve or strengthen the protocols. As requested, participate with business partners in the development of such protocols.
- Conduct SLA reviews and ensure that liquidated damages have been correctly calculated.
- Bachelor’s Degree in Business or related field, OR 4 years relevant experience OR a combination of college education and experience equivalent to 4 years
- 6-9 years’ experience managing vendor performance OR a master’s degree and 5 years of vendor contract management experience. Relevant work experience considered in lieu of education.
- Excellent analytical and problem-solving skills
- Strong understanding of vendor management principles and practices
- Strong negotiation and conflict resolution capabilities
- Excellent oral, written communication, and interpersonal skills
- Ability to work independently as well as within a team environment
- Ability to work well under pressure, to work on multiple projects and to meet deadlines
- Proficiency in Microsoft Office Suite products, including Excel, PowerPoint, Word, Outlook, Project and Visio
- Strong sense of urgency, personal responsibility, accountability; self-motivated, efficient, effective