Vendor Management Specialist

Commonwealth Business Bank • Los Angeles, CA

13h • $60,000 - $65,000 • Onsite

About The Position

The Vendor Management role is responsible for overseeing third-party vendor relationships to ensure services are delivered in compliance with bank policies, regulatory requirements, and contractual obligations. This role supports risk management, cost optimization, and performance monitoring of vendors that provide critical services to the bank.

Requirements

• Bachelor’s degree in Business, Finance, Accounting, or related field
• 2–7+ years of experience in vendor management, procurement, risk, or operations (banking/financial services preferred)
• Strong understanding of third-party risk management frameworks
• Experience with contract review and SLA management
• Familiarity with regulatory expectations for financial institutions is a plus
• Strong analytical, communication, and negotiation skills
• Proficiency in vendor management systems (Archer, Coupa, ServiceNow, or similar is a plus)
• Must be authorized to work in the US.

Nice To Haves

• Knowledge of banking regulations (OCC, FFIEC, Basel frameworks)
• Experience working with IT, cybersecurity, or fintech vendors
• Project management skills
• Ability to manage multiple vendors and priorities simultaneously

Responsibilities

• Manage end-to-end vendor lifecycle, including onboarding, contract execution, performance monitoring, and offboarding
• Ensure all vendor relationships comply with bank policies, internal controls, and regulatory requirements (e.g., OCC, FDIC, FFIEC guidelines if applicable)
• Conduct vendor risk assessments, including financial, operational, cybersecurity, and compliance risks
• Track and evaluate vendor performance against SLAs (Service Level Agreements) and KPIs
• Coordinate with Procurement, Legal, Compliance, IT, and Risk teams during vendor selection and review processes
• Review and negotiate contracts, amendments, and renewals in partnership with Legal and Procurement
• Maintain accurate vendor inventory and documentation in vendor management systems
• Identify cost-saving opportunities and support vendor consolidation initiatives
• Escalate vendor issues and ensure timely resolution of service disruptions
• Support internal and external audits related to vendor management activities
• Monitor concentration risk and ensure appropriate diversification of vendors

Benefits

• Medical Insurance
• Dental Insurance
• Vision Insurance
• Life Insurance
• Paid Time Off
• 401(k) with Matching Contributions
• paid federal holidays

What This Job Offers

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