VP, Vendor Management
Description
Position at loanDepot Position Summary : Responsible for leading all tasks, planning, maintaining and development of key Enterprise vendors and strategic counterparties.
Will partner with Operation’s Leadership and Business Support, to determine how vendors and contract services can maximize efficiency and / or cost effectiveness for the business.
Acts as primary contact for key decisions, escalations and conflict resolution with vendors; leads and participates in periodic onsite vendor inspections as needed. Responsibilities :
- Identifies and develops strategic alliances with 3rd party vendors / contract providers in order to expand and support the Enterprise.
- Leverages enterprise wide volume discounts, when available, while delivering best in class customer service and governance of executed service level agreements.
- Coordinates with Vendor Management (procurement) regarding contract negotiations, fee level structures, service level agreements, termination clause to meet operational objectives and initiatives.
- Analyzes service level data, cycle times and costs to ensure accurate and timely delivery of agreed upon services; reports vendor performance results to stakeholders.
- Holds vendors accountable for SOW / agreement violations while maintaining professional working relationships with internal and external partners.
- Approves applicable vendor submitted invoices for monthly production services and collaborate with Enterprise Accounting to ensure monthly spend is accurate.
- Collaborates with Senior Management team to define project requirements (features & functionality), timelines, and testing procedures to ensure smooth and timely introduction of vendor-related changes.
- Attends vendor held demonstrations regarding new services and provides feedback to leadership; identifies new systems which have the potential to afford efficiency gains, increased market share, reduction in costs.
- Reviews and records detailed business needs / requirements through brainstorming sessions, focus groups, surveys, etc.
when vetting potential vendor projects / contracts. Responsible for the training of vendors both newly contracted and on-going to ensure compliance.
Creates, documents and demonstrates efficiency and / or cost effectiveness to stakeholders and department heads for project / contract approvals (.
cost-benefit analysis, cycle-time estimations, scalability assessments,
- Develops processes that allow the business to leverage each vendor to highest / best use; builds systems / scorecards for and conducts ongoing vendor performance monitoring.
- Reviews vendor activity reports, operations data and financial statements to determine progress in attaining objectives of original concept for all contracts / projects.
Conducts routine reviews of contracts, SOWs and vendor agreements; recommend changes as needed.
Develops a good understanding of all in-flight and up-coming projects, including, but not limited to : operational, strategic, channel specific and enterprise-wide projects.
Identifies risks associated with recommended projects / efficiencies and proposes solutions to mitigate those risks.
- Maintains awareness of industry practices and trends, including discussions with sales, vendor partners, agency news, and operation teams to recommend specific projects that may need to be addressed (either near term or in the future).
- Establishes strong working relationships with related internal groups including, Vendor Oversight / Risk, Enterprise Ops Support, IT, BI, Compliance, Training, Sales, and Ops Leadership.
- Acts as a company ambassador when interacting with vendor partners, displaying high integrity, transparency and fairness with an emphasis on promoting the Enterprise core values.
Interacts with business partners and stakeholders throughout the company, and acts as the primary vendor liaison.
Requirements :
- Bachelor’s Degree preferred and a minimum of ten (10) + years’ experience working in a similar field.
- Must possess a broad knowledge base of Mortgage Banking, including, back office operations, risk assessment, process workflow, conflict resolution, negotiations, due diligence, business intelligence, project management, and vendor management.
- Prior experience in and proven ability to develop vendor strategies and implementation plans.
- Two (2) + years in the Mortgage Industry, including a strong understanding of the mortgage process, programs and guidelines.
Why work for #teamloanDepot :
- Aggressive compensation package based on experience and skill set
- Inclusive, diverse and collaborative culture where people from all backgrounds can thrive
- Work with other passionate, purposeful and customer-centric people
- Extensive internal growth and professional development opportunities including tuition reimbursement
- Comprehensive benefits package including Medical / Dental / Vision
- Wellness program to support both mental and physical health
- Generous paid time off for both exempt and non-exempt positions
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