Vendor Relationship Manager

Overview

We are seeking an experienced and dedicated Vendor Manager to support the maturity of our Human Resources (HR) Vendor and Third-Party Risk Management Program. The successful candidate will have a strong background in vendor relations, contract review and analysis, and third-party risk management. He or she will also have experience in building and implementing tools to mature the program. This role is pivotal in ensuring that our HR organization maintains effective partnerships with suppliers while adhering to internal and external compliance and risk management standards.

Responsibilities

• Support the AVP, HR Vendor Management in the design, implementation, and maintenance of a comprehensive Vendor Management Program aligned with the organization's strategic objectives.
• Establish standards, procedures, and guidelines for vendor selection, evaluation, and performance measurement that align with organization policies and standards.
• Collaborate with business unit and risk SMEs during the drafting, negotiation, and execution of contracts with vendors to ensure terms are favorable and compliant with organizational policies.
• Conduct thorough reviews of contracts to mitigate risks and identify opportunities for improvement in terms and conditions.
• Establish and manage Vendor Management Plans and Vendor Scorecards in accordance with organizational policies and practices
• Monitor vendor performance through key performance indicators (KPIs) and service level agreements (SLAs), providing regular reports to senior management
• Facilitate vendor meetings to review performance metrics, resolve issues, and identify opportunities for innovation and improvement.
• Identify, assess, and monitor risks associated with third-party vendors, developing risk management strategies and mitigation plans
• Collaborate with cross-functional teams to ensure compliance with legal, regulatory, and internal policy requirements
• Work closely with internal stakeholders to understand business needs and ensure alignment between vendor services and organizational objectives
• Engage with procurement, legal, information security and compliance teams, as necessary, to ensure contracts align with regulatory requirements
• Drive continuous improvement initiatives within the Vendor Management Program to enhance efficiency, effectiveness, and vendor relationship management
• Stay current with industry trends and best practices in vendor management, third-party risk assessment, and contract negotiations.
• Analyze vendor utilization, goods and services provided and provide recommendations to higher level staff and/or leadership for contract modifications; provide recommendations for potential new vendor relationships based on analysis
• Perform other duties as assigned

Qualifications

• A minimum of 5 years of experience in vendor management, procurement, contract management, or third-party risk management
• Prior experience in building and/or contributing to Vendor and Third-Party Risk Management program artifacts
• Knowledge of applicable federal and state laws, rules and regulations, especially related to Financial Services industry and Human Resources domain
• Familiarity with Human Resources industry trends, products and services
• Experience collaborating across organizational boundaries and building partnerships across various functions
• Experience evaluating and examining policies, procedures, business documents, IT Security, and regulatory compliance controls
• Excellent communication and interpersonal skills, with the ability to build and maintain relationships across all levels of the organization
• Strong problem-solving skills and a strategic mindset

Desired Qualifications

• Familiarity with Navy Federal products, services, programs, policies and procedures
• Familiarity with Navy Federal operating systems: VenDoor (P2P, SharePoint, Outlook, Power BI/Tableau
• Bachelor's degree in Business Administration, Supply Chain Management, or a related field (Master's degree preferred)

Hours: Monday - Friday, 8:00AM - 4:30PM

Locations: 820 Follin Lane, Vienna, VA 22180 | 5550 Heritage Oaks Drive, Pensacola, FL 32526 | 141 Security Drive, Winchester, VA 22602

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