Manager, Procurement & Vendor Operations

Position Summary
The Manager, Procurement & Vendor Management will design, manage, and execute the enterprise-wide procurement process for purchasing products or services. This individual will collaborate with departments on specific tasks related to vendor selection, onboarding, management, reporting, and policies and procedures. They will innovate, apply best practices, and provide leadership that matures the procurement process while also supervising a Procurement Analyst.

The Manager, Procurement & Vendor Management will design, manage, and execute the organization-wide procurement strategy for purchasing all products and services while mitigating key risks. This individual will collaborate with leadership on critical tasks and risks related to vendor selection, contract negotiations and reviews, onboarding, management, reporting, and policies and procedures. They will innovate by applying industry best practices, provide leadership that matures the procurement process, drive operational efficiency, and implement ongoing oversight of the end-to-end vendor/procurement process, vendor service level agreements, and internal KPIs. This individual will partner with Audit, Enterprise Risk Management, Legal, and Operations leadership to ensure appropriate first-line controls are implemented and effective, while also supervising a Procurement Analyst who will perform vendor management and support functions.

Primary Success Factors

• Establishes and manages centralized enterprise-wide procurement processes

• Along with Business line Vendor Owners, ensures compliance with related policies, procedures, regulations, and laws

• Researches best practices, innovates to mature the procurement process, and implements new solutions to improve processes and mitigate risk

• Remains current with the latest vendor management issues by participating in industry events and assisting in the identification of risks to be addressed by Subject Matter Experts (e.g., use of AI, risks of cloud vendors, identifying ESG issues)

• Supports the vendor search process while considering supplier diversity

• Manages contract administration processes including vendor selection, RFP/RFQ leadership, contract maintenance, management committee reporting, and ensures proper documentation is completed and retained

• Partners with Vendor Owners and Enterprise Risk Management to understand, assess, and document the potential risks of new and renewing vendors (data transmissions, use of artificial intelligence, data location, fourth-party risk, and more)

• Negotiates contracts along with vendor contract owners and legal counsel

• Develops collaborative relationships with peer organizations to share vendor landscape insights, procurement knowledge, and vendor performance

• Manages the contract renewal process and assists vendor owners with necessary documentation

• Annually reviews vendors and vendor performance

• With business owners, leads the development of internal service level agreements and Key Performance Indicators with escalation clauses; creates reporting and dashboards to manage execution against SLAs/KPIs and monitors any related vendor action plans. Provides status to executive leadership and other key partner groups (Operations, Technology, Audit, ERMG, etc.)

• Works with vendor owners to identify and manage subcontractor (fourth-party) utilization

• Creates and conducts training and awareness activities to educate managers and employees about procurement policies and procedures

• Responsible for hiring, supervision, and development of direct report. Defines job duties and processes for analyst and implements appropriate controls, oversight, and management routines for the role

Required Experience

• Five or more years of experience in purchasing/procurement, vendor risk management, or client relationship management, preferably within financial services or a regulated industry

• Minimum of one year managing employees or indirectly managing operational staff

• Experience developing and maturing complex procurement/vendor/client processes a plus

• Tableau experience a plus

• Significant knowledge of standard customs, processes, and internal controls related to the procurement and vendor/client management function

• Ability to manage RFI/RFX and other key procurement functions and negotiate contracts

• Ability to understand, interpret, and negotiate complex legal contracts and service agreements. Experience with technology-related contracts is preferred

• Ability to create, analyze, interpret, and communicate policies and procedures while ensuring regulatory compliance

• Excellent verbal and written communication and presentation skills

• Strong analytical, critical thinking, and problem-solving skills

• Proficiency in PC-based software programs, including creating spreadsheets, reports, and presentations

• Experience leading and transforming processes and implementing best practices

• Demonstrated ability to manage complex technology, risk, and operational concerns effectively across a matrixed organization within stringent timelines

• Ability to manage competing priorities and concurrent initiatives effectively

• Experience leading complex projects, preferred

• Advanced stakeholder management and collaboration skills