The Vendor Management Specialist is responsible for coordinating vendor relationships and Third-Party oversight through the on-boarding/off-boarding process.
Responsibilities include but are not limited to:
Oversee and maintain the Third-Party Database and ascertain completeness of the vendor profile prior to the inception of contractual obligation by the vendor.
Review the Third Parties scorecard ensuring vendors are properly classified in the database.
Coordinate vendor due diligence reviews in accordance with the Bank's policy and procedures and follow-up as needed.
Review results and report on critical vendor assessments.
Ensure all vendors are in the Third-Party Database.
Act as a point of escalation for issues identified relating to Third-Party Vendors contacting the necessary areas for resolution.
Maintain and enhance, where applicable, the reporting framework to monitor, measure and report on vendor performance compared to contractual obligations and industry standards.
Maintain policies and update enterprise-wide procedures for Third-Party management as required.
Coordinate relationship owners in the Third-Party Database.
Good understanding and knowledge of the various functions of a commercial bank (including retail/commercial lending, wealth management, investments, operations, etc.) and the types of vendors typically engaged by these business units.
Excellent verbal and written communication skills.
Ability to effectively respond to shifting priorities and assignments.
Proficient PC skills in Microsoft Office suite - Word, Excel and PowerPoint.
Ability to prepare executive and Board level reports including memoranda and PowerPoint presentations.
Well organized and detail oriented.
Ability to meet deadlines and expectations with little or no supervision.
High School Diploma or GED and a minimum of two years experience in administering an enterprise wide third-party database or related experience.
Bachelor's Degree preferred.
Knowledge of vendor management requirements established by Banking Regulators preferred.
Valley National Bancorp