Senior Vendor Manager (2 openings)

Federal Home Loan Bank of Boston•Boston, MA

66d•$80,500 - $132,250•Hybrid

About The Position

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 Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 420 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region. Our highly skilled team of 220 is innovative, collaborative, and passionate about the work we do. 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 (2) newly created Senior Vendor Manager roles at the Bank. Each of these roles will provide focused/dedicated support. One (1) will support Human Resources and their vendors. One (1) will support Bank Technology teams and their vendors. The Senior Vendor Manager focused on Human Resources vendors will report to the Director of Vendor Management and support a specified Bank functional area and the vendor management team with cross-coverage, for full vendor lifecycle management. This position plays an integral role in sourcing potential vendors and supporting the evaluation of existing vendors for and with the department business subject matter experts. As a Senior Vendor Manager this individual will, in collaboration with other business subject matter experts, negotiate contractual business terms, train vendor managers, and manage the bank's most critical vendors. Strong collaboration, communication and negotiation skills with recent contracting and vendor management experience are required. The ideal candidate will demonstrate experience with HR-relevant vendors. A strong attention to detail is essential to ensure compliance with documentation in the bank's systems of record for contracting and vendor management. Experience working in a regulated industry and some experience training others are strongly preferred. This role will have a hybrid work schedule in our Boston office in accordance with the Bank's Hybrid Work Program. Flexibility in schedule will be required to support team members when necessary. More time will be expected in the office to support onboarding initially, up to 90 days. Anticipated Pay Range The anticipated base pay range for this role is $80,500 - $132,250 This role is based in Boston with weekly in-office expectations. The base pay posted represents the annual base pay range or hourly wage range that we expect to offer for this job opportunity. The actual base salary offer will depend on a variety of factors including relevant experience, required skills and other relevant factors. The range noted here is not indicative of all positions in the job grade within which this position falls. All Bank full-time positions are eligible to participate in our annual incentive program and our robust total rewards offerings, in addition to the base pay. For more information, visit Careers - FHLBank Boston

Requirements

Bachelor's degree in business or related field or 5 years of relevant work experience with vendor management or a related field of expertise.
3+ years of proven track record of managing vendors to contracted terms is required, ideally with some experience working in a regulated industry.
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.

Nice To Haves

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.
Experience working in a regulated industry and some experience training others are strongly preferred.

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.