The Bancorp Bank

Vendor Manager

US-DE-Wilmington
Type
Regular Full-Time

Overview

Act as the central point of contact for vendor management requests in assigned divisions. Manage the effectiveness of existing relationships, and play a lead role in the procurement of new vendors. Align closely with Third Party Risk, Legal, Compliance, Business Lines, Finance, HR, Operations, and Marketing.

Responsibilities

  1. Develop and manage policies and procedures related to the procurement of goods and services and management of existing vendor relationships.
  2. Track and monitor contract renewal, expiration, and pricing dates. Develop contractual standards. Manage contract spreadsheet/database to ensure contracts are current and follow up as critical contract dates approach.
  3. Ensure products and services are purchased in the most cost and time efficient manner.
  4. Develop and manage RFP’s in response to requests from business lines and partners.
  5. Research, interview, and negotiate with suppliers to obtain details on services and pricing.
  6. Monitor third party vendor performance against contractual requirements to ensure service level agreements are being met. Follow up as needed with vendors and internal teams when issues arise.
  7. Develop metrics to manage vendor performance and productivity. Develop and evaluate effectiveness of the VMO.
  8. Lead the contract renewal and associated administrative processes. Facilitate the resolution of issues by working with internal partners to resolve outstanding terms and conditions and ensure that the contract approval and signatures are obtained. Facilitate and schedule meetings with the relevant parties to provide timely resolutions.
  9. Work closely with internal areas (Third Party Risk, Legal, Compliance, Business Lines, Finance, HR, Operations, and Marketing). Keep the internal areas informed and provide support when required.
  10. Perform other related duties as assigned.

Qualifications

Education/Experience:

  • A bachelor’s degree is required.
  • A minimum of 6- 8 years Vendor Management or related experience.

 

Other Qualifications:

  • Strong working knowledge of legal and contract terms and conditions
  • Excellent analytical and decision making skills
  • Demonstrates a high level of attention to detail
  • Consistent track record of producing high quality results.  
  • Ability to lead groups people toward common goals
  • Excellent verbal, written, and interpersonal communication skills
  • A team player able to work effectively in a team fostered, multi-tasking environment
  • Proficient in Microsoft Office suite, e.g. Excel, PowerPoint, Word, Outlook

"The Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, among other things, or status as a qualified individual with disability."

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