What are the responsibilities and job description for the Director, Vendor Management position at Valley Bank?
Job Overview
The Director, Vendor Management will be responsible for the overall leadership and supervision of the Vendor Management process, including strategic oversight, internal governance, control over external vendors and contracts, and compliance with regulatory guidelines to ensure appropriate corporate responsibility.
Expected work hours
40 hours a week
Job Description
Responsibilities include but are not limited to:
Required Skills:
Exact compensation may vary based on skills, experience, and location.
Salary Grade Minimum - Annual
$143,900.00
Salary Grade Maximum - Annual
$260,700.00
Salary Grade Minimum - Hourly
$69.18
Salary Grade Maximum - Hourly
$125.34
The Director, Vendor Management will be responsible for the overall leadership and supervision of the Vendor Management process, including strategic oversight, internal governance, control over external vendors and contracts, and compliance with regulatory guidelines to ensure appropriate corporate responsibility.
Expected work hours
40 hours a week
Job Description
Responsibilities include but are not limited to:
- Develop and drive the framework for Vendor Management governance.
- Provide leadership to influence and strategically lead the Vendor Management process and oversee the department activities and socialization within the organization.
- Develop, coach, mentor and manage a team. Motivate staff, review and assess performance, develop and build employee skills, support their professional development and enable employees to optimize their contribution to the department.
- Balance and lead the pipeline of projects with stakeholders and key business executives.
- Ensure that processes are operational and functioning as needed.
- Direct the onboarding process for new vendors and the associated risk- based monitoring, reporting of vendor metrics and ensuring adherence to internal policy and external regulatory requirements.
- Interface with internal and external auditors as well as regulatory bodies (OCC).
- Drive remediation activities and document action plans.
- Keep abreast of data analytics, regulatory changes and industry trends to identify business and risk improvement opportunities and to remain compliant.
- Review legal contracts for terms and conditions to ensure corporate interests are represented.
- Ensure Vendor performance meets contractual and project requirements.
- Support change management in executing best practices.
Required Skills:
- Leadership skills balanced with a willingness to play a 'hands-on' role with key projects.
- Strong written, verbal and presentation skills required to effectively communicate vendor strategies at all levels, from administrative to the C-Suite.
- Ability to think strategically and objectively to effectively translate data into actionable insights, strategies and financial plans.
- Ability to thrive in a fast-paced, dynamic, growing environment.
- Strong ability to build relationships cross-functionally and partner with leaders to deliver solutions that meet the business needs.
- Knowledge of federal, state and local regulations related to Vendor Management (OCC guidelines).
- Excellent negotiation skills.
- Proficiency in Microsoft Office (Word, Excel, Outlook, PowerPoint).
- Bachelor's Degree in business, finance or management and a minimum of 15 years' experience in managing an enterprise-wide vendor management program or procurement sourcing, with specific knowledge of vendor risk management requirements established by banking regulators.
- MBA Preferred.
Exact compensation may vary based on skills, experience, and location.
Salary Grade Minimum - Annual
$143,900.00
Salary Grade Maximum - Annual
$260,700.00
Salary Grade Minimum - Hourly
$69.18
Salary Grade Maximum - Hourly
$125.34
Salary : $143,900 - $260,700
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