Vendor Analyst I Biloxi 5304

Keesler Federal Career • Biloxi, MS

1d

About The Position

The Vendor Analyst I manages relationships with vendors and business stakeholders, assists with issue escalations, and monitors vendor performance to ensure compliance with contracts and service level agreements. The role provides support analyzing procurement and vendor data and preparing detailed reports, and serves as a subject matter expert for business functions, systems, policies, and procedures. It requires significant independent judgment and the ability to work effectively without constant supervision.

The position supports the vendor lifecycle and third-party risk management as a second line of defense. It reviews vendor documentation, contracts, performance, risks, and compliance; maintains vendor records and databases; coordinates with senior management and internal departments; and helps implement and continually improve Vendor Management policies and procedures. The analyst also prepares program updates and management materials, identifies opportunities for cost savings, and keeps current on relevant regulations and organizational policies.

Requirements

• Three to five years of financial institution experience.
• Bachelor’s degree in business or a related field, or an equivalent combination of education and experience; a bachelor’s degree is preferred.
• Ability to manage several priorities simultaneously, establish and meet deadlines, coordinate activities with other departments, and work accurately with attention to detail.
• In-depth analytical skills and the ability to demonstrate accuracy and attention to detail.
• Ability to work independently as a self-starter and in a team environment.
• Working knowledge of applicable federal and state laws, rules, and regulations.
• Working knowledge of banking and financial industry trends, products, and services.
• Experience working with staff, management, stakeholders, and vendors at all levels.
• Experience managing multiple priorities independently and/or in a team environment to achieve goals.
• Initiative and sound judgment in making decisions.
• Research, analytical, and problem-solving skills.
• Communication, organization, planning, and time-management skills, including meeting deadlines.
• Experience evaluating policies, procedures, business documents, IT security, and regulatory compliance controls.
• Ability to follow, interpret, and apply relevant data and instructions to guidelines, procedures, practices, and regulations.
• Ability to interact tactfully and effectively in difficult situations and build relationships through rapport, trust, diplomacy, and tact.
• Experience collaborating across organizational boundaries and building partnerships across functions.
• Effective verbal and written communication skills.
• Effective database, word-processing, and spreadsheet software skills.
• Knowledge of information technology capabilities and procedures; proficiency using a PC or laptop and word-processing, spreadsheet, and presentation software.
• Experience with email software and use of the Internet.
• Must obtain Certified Regulatory Vendor Program Manager (CRVPM) certification within 12 months.
• Must be able to perform the essential physical functions, including regularly sitting, using hands, reaching, talking, and hearing; frequently standing and walking; and occasionally lifting, carrying, or moving up to 10 pounds.

Nice To Haves

• Vendor Management-related experience.
• Bachelor’s degree in business or a related field.

Responsibilities

• Inspect vendor deliverables, budgets, financial statements, license requirements, insurance, and other materials to confirm vendors maintain key service provider status.
• Assist senior management with keeping ongoing monitoring components current, including risk assessments, due diligence documentation, performance reviews, vendor classifications, and the vendor management database.
• Work with senior management to risk-rate vendors using the defined Vendor Management methodology.
• Coordinate with Information Security on technology service providers to ensure Service Organization Controls are sufficient to mitigate risks.
• Maintain records of qualified vendors within the assigned area and escalate vendor risk and compliance issues to the appropriate entity.
• Provide expertise, support, monitoring, and challenge on third-party risk matters while overseeing the vendor lifecycle.
• Review contract terms, renewal and termination provisions, and vendor performance to support recommendations.
• Support implementation, enforcement, and continuous improvement of Vendor Management policies, procedures, and guidelines.
• Review and audit vendor documents for compliance with applicable federal and state laws, rules, regulations, and KFCU policies and procedures.
• Evaluate and interpret vendor documents and forward them to the appropriate departments for subject matter expert approval.
• Coordinate with the Project Management Department to support establishment of new products and services for credit union departments.
• Maintain an accurate and current vendor contract database and user access to vendor management software platforms.
• Resolve contractual and interpretive differences between vendors and business units, involving external legal counsel as needed.
• Prepare periodic verbal and written updates on the Vendor Management Program.
• Identify opportunities to consolidate services for cost savings.
• Maintain knowledge of applicable laws, regulations, and KFCU policies and procedures.
• Assist in preparing vendor documents and reports for senior management meetings.
• Keep current on changes that may affect the Credit Union’s vendor management program.
• Perform other duties as assigned by the Enterprise Vendor Manager and continue professional development through self-training, seminars, and in-house training.

Benefits

• Medical, dental, and vision insurance
• Section 125 Flexible Spending Accounts for health care and dependent care expenses
• Employee and dependent life insurance
• 401(k) retirement plan with 100% match on the first 5% contributed by the employee
• Paid leave
• Tuition reimbursement and competitive scholarships
• Short-term and long-term disability benefits

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level