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Senior Vendor Manager (2 openings)

Senior Vendor Manager (2 openings)

Boston StaffingBoston, MA, US
1 day ago
Job type
  • Full-time
Job description

Senior Vendor Manager

The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. The Bank is committed to making New England a better place to live and do business, and our employees are integral to our success. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.

Position Summary : We have two newly created Senior Vendor Manager roles at the Bank. Each of these roles will provide focused / dedicated support. One will support Human Resources and their vendors. One will support Bank Technology teams and their vendors.

Responsibilities

Support of vendor selection and onboarding of new vendors :

  • Source potential vendors for department needs with a full market analysis.
  • Research vendor capabilities per the Bank's required policies and procedures.
  • Ensure required vendor documentation is provided for onboarding and regular evaluations in the vendor management system, Process Unity.
  • Help assess financial and technology status of vendors by reviewing the System & Organization Controls report (SOC) and detailing the User Control Considerations (UCC) in a UCC mapping document.
  • Lead cross-departmental efforts to negotiate contract essentials, terms, pricing, and establish key performance indicators for critical vendors to align with bank regulations and reduce risk.
  • Collaborate with legal, technology and other departments to set up vendors.
  • Provide excellence in customer service for vendor relations and bank colleagues.

Manage the vendor relationship and lifecycle :

  • For selected vendors, be the primary point of contact between the Vendors and the Bank.
  • Partner and collaborate with department business subject matter experts to align vendors to our requirements, reduce risk for the Bank and manage the relationship as needed by the department.
  • Track and manage key performance indicators for vendor metrics to meet contractual obligations and service level agreements for quality, if relevant.
  • Provide updated vendor data for required reporting for the Bank.
  • Escalate challenges and issues as needed to Director of Vendor Management.
  • Educate, support and mentor new colleagues on vendor management practices.

    • Risk and Audit Compliance :

  • Conduct data analytics to ensure vendor management data is accurate for reporting to senior management.
  • Support department self-audits and internal audits as necessary.
  • Other duties as assigned.

    • Education and Experience

    Bachelor's degree in business or related field or 5 years of relevant work experience with vendor management or a related field of expertise. Background : 3+ years of proven track record of managing vendors to contracted terms is required, ideally with some experience working in a regulated industry. Experience with HR-relevant or Information Technology / Information Security vendors is strongly preferred given the team structure and how Vendor Managers will support specific Bank functions.

    Skills : Strong communication, interpersonal, and relationship management skills. Detailed-orientated, with excellent problem solving, emotional maturity, and decision-making ability. Demonstrated proficiency in vendor management software and tools. Developed skills in data analytics and evaluations. Ability to manage multiple priorities, oversee a diverse portfolio of vendors relevant to the Bank's business with varied status from standard to critical. Ability to address challenges in vendor relations and quality with vendors.

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    Vendor Manager • Boston, MA, US