Vendor Management Specialist

Role Summary:
We are seeking a proactive and detail-oriented Vendor Management Specialist to join our team. This role will be responsible for overseeing and managing relationships with third-party vendors, ensuring optimal performance, cost-effectiveness, and compliance with contractual obligations. The ideal candidate will play a crucial role in supporting the bank's operational efficiency and strategic objectives through effective vendor partnerships.

Key Responsibilities:
- Develop and implement vendor management strategies aligned with organizational goals.
- Onboard new vendors, including due diligence, contract negotiation, and service level agreement (SLA) establishment.
- Monitor vendor performance against agreed-upon KPIs and SLAs, conducting regular reviews and providing feedback.
- Manage vendor relationships, acting as a primary point of contact for all vendor-related communications and escalations.
- Identify and mitigate vendor-related risks, ensuring compliance with regulatory requirements and internal policies.
- Drive cost optimization initiatives through effective contract management and negotiation.
- Oversee vendor contract renewals, terminations, and amendments.
- Maintain accurate vendor records and documentation.
- Collaborate with internal stakeholders to understand business needs and ensure vendor services meet those requirements.
- Resolve vendor disputes and performance issues in a timely and professional manner.