Vendor Management Manager

LMCU•Grand Rapids, MI

4d•Onsite

About The Position

The Vendor Management Manager is responsible for implementing, maintaining & administrating the Credit Union’s Third-Party Risk Management (TPRM) program. This role focuses on vendor due diligence, ongoing monitoring, risk assessments, reporting, and coordination with internal stakeholders to ensure third party relationships are managed in accordance with regulatory requirements, internal policy, and risk appetite. The position partners closely with Risk Management, Compliance, IT, Legal, and business owners across the organization. The Vendor Management Manager will ensure that identified risk exposures are properly mitigated and appropriate risk action plans are implemented as appropriate.

Requirements

High School Diploma is required.
Must be able to effectively handle multiple, simultaneous, and changing priorities.
Must be capable of exercising highest level of discretion on both internal and external confidential matters.

Nice To Haves

Three to five years of experience in financial services, risk management, vendor management, compliance, audit, or a related field preferred.
College degree in business, finance, risk management, information systems, or a related field preferred, but not required.
Relevant certifications (e.g., CTPRP, CRVPM) are a plus but not required.
Experience with vendor management platforms/process flows.

Responsibilities

Lead the enhancement and streamlining of the third-party relationships process, including clarity of roles, escalation, and communication.
Perform risk assessments for current and prospective third-party relationships, including inherent and residual risk evaluations.
Conduct initial and ongoing due diligence activities, including initial review of contracts, SOC reports, information security documentation, business continuity plans, etc.
Track, document, and maintain vendor risk ratings, due diligence status, and remediation items within the vendor management system.
Conduct vendor onboarding, renewal, and termination processes in accordance with policy and regulatory expectations.
Assist Risk Manager with various projects and reports. Run the reports to completion and present findings to Risk Manager. Based on evaluation and interpretation, report findings and suggestions.
Supervise and support Vendor Management staff, including oversight of daily activities, timecard approvals, recruitment and onboarding, performance management, coaching and development, and completion of performance evaluations to ensure team effectiveness and alignment with organizational goals.
Adhere to and champion our core values of curious minds, collaborative hearts, and continuous excellence.
Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.