Vendor Management Specialist

SNB Little Rock , AR 72215

Posted 11 months ago

It's fun to work in a company where people truly BELIEVE in what they're doing!

We're committed to bringing passion and customer focus to the business.

The Vendor Risk and Contracts Specialist within Third Party Risk Management Program ("TPRM") plays a pivotal role in supporting program stakeholders by providing guidance and expertise on the TPRM program and framework. Additionally, the Specialist also has responsibility for supporting Simmons internal business units with sourcing and vendor selection, contract drafting and pricing negotiations, vendor relationship management, risk mitigation, vendor onboarding and on-going vendor monitoring responsibilities. The Specialist will lead multiple projects within different internal departments. In this role, you will be working with a variety of vendors, ranging from Information Technology and Marketing to Corporate Services and Supplies.

Essential Duties and Responsibilities

Third Party Risk Management:

  • Plan, design and implement the TPRM program including the TPRM policy, framework and procedures

  • Contributes and executes overall strategy and vision of TPRM

  • Oversees the third-party on-boarding process, including risk assessment and due diligence through partnerships with Legal, business unit and security to ensure all requirements are met

  • Oversees the day-to-day risk mitigation, monitoring, and reporting as it relates to third party relationships

  • Considered subject matter expert in associated risk and risk management methodology

  • Review vendor risk assessment outputs to ensure risk has been appropriately assessed

  • Delivers reporting from the third-party risk management platform and team presentations to stakeholders, including to senior management and oversight committees, including board level reporting on critical and high-risk relationships/products

  • Obtain and maintain necessary training to keep current on the discipline of third-party risk management, including regulatory and industry practices

  • Aid in design, creation and delivery of program training to members of the Vendor Management team as well as to internal business unit stakeholders

  • Ensure departmental documents and activities are performed in compliance with applicable laws, regulatory standards and company policies and procedures

  • Lead in the team's preparation and involvement in regulatory examinations

  • Basic understanding of SOC reports, Business Continuity Planning, Inherent Risk and Entity Level Controls

  • Assist with the creation of policies and procedure for the Vendor Management department

  • Analyze external supplier data to drive recommendations

  • Challenges and provides process improvement strategies on existing procedures and processes across the team and risk organization to achieve efficiencies

Contract Management:

  • Perform pre-contract support, including vendor pre-qualification, RFI and RFx administration

  • Draft, review and negotiate contracts (includes NDAs, master agreements, amendments, statements of work, etc.) in all areas of complexity and risk, with minimal supervision

  • Drive utilization of Simmons contract templates and minimize deviations to Bank preferred terms

  • Identify and generate contracting process improvements (i.e., propose modifications to Simmons templates, regularly host meetings with business owners to discuss contract T & C improvement)

  • Interface with Business Owners to ensure contract negotiation objectives align with key stakeholder expectations and provide project status and analysis throughout the negotiation and contract development phases

  • Evaluate vendor documents to determine acceptability based on business unit needs and industry standards

  • Resolve contractual and interpretive differences between vendors and business units

  • Develop and promote strategic partnerships with vendors

  • Provide financial analysis support for financial negotiations of contracts

  • Develop goals and metrics for measuring and managing supplier performance

  • Mitigate vendor risk and create third party contingency plans

  • Performs other duties and responsibilities as assigned

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Skills:

  • Ability to effectively communicate and influence vision and strategy of TPRM

  • Understanding of fundamental risk theories, principles, and concepts (preferably in the context of third-party risk for financial institutions)

  • Experience evaluating and examining policies, procedures, business documents, and IT Security

  • Ability to build strong partnerships with stakeholders (internal and external)

  • Strong interpersonal and time management skills

  • Self-starter with the ability to work independently

  • Advanced organizational skills

  • General knowledge of the Banking industry

  • Ability to read and interpret documents such as procedure manuals, general business correspondence and/or journals or government regulations

  • Ability to read, analyze and interpret financial report and/or legal documents.

  • Ability to write procedures

  • Ability to effectively present information in one-on-one and small group situations, to business units, and to vendors

  • Ability to effectively present information and respond to questions from internal and external groups

  • Ability to effectively present information to top management, public groups and/or boards of directors

  • Ability to speak effectively before groups of all sizes, internal and external

Education and/or Experience:

  • Bachelor's degree and five (5) years' experience in TPRM, compliance, quality assurance/control, audit or other related risk management function

  • Banking experience preferred

Computer Skills:

  • MS Office programs

Other Qualifications (including physical requirements)

  • A team leader with strong oral and written communication skills

  • Assertiveness to negotiate and mediate complex contracts and commercial terms

  • Strong organizational, problem solving, and planning skills with the ability to set priorities

  • Excellent presentation, telephone and customer service skills

  • Understanding of and ability to use technical tools for analysis, problem solving and forecasting

  • Must have strong computer skills and knowledge (use of database and Microsoft networking operating systems, documents, and spreadsheets)

  • Advanced business understanding (general banking knowledge preferred)

  • Self-starter with high sense of urgency and ability to handle multiple tasks simultaneously

  • Critical thinker that can make difficult decisions under pressure and manage large projects

  • Superior quantitative and analytical skills

  • Willingness to learn and adapt quickly with a positive and upbeat mindset

  • Previous experience in a TPRM, audit Procurement and/or Vendor Management environment a plus

  • High ethical standards

Equal Employment Opportunity Information: Simmons First National Corporation and its subsidiaries are committed to a policy of equal employment with respect to a person's race, color, religion, sex, ancestry, sexual orientation, gender identity, national origin, covered veterans, military status, physical or mental disability or any other legally protected classifications. Simmons First National Corporation and its subsidiaries are committed to Affirmative Action Programs consisting of results-oriented procedures to ensure equal employment opportunities. These programs require positive action in lieu of neutral non-discrimination and merit hiring/performance policies.


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Vendor Management Specialist

SNB