Vendor Management Specialist

Merchants Bank of Indiana•Carmel, IN

About The Position

The Vendor Management Specialist is responsible for the ongoing management of the organization’s vendor relationships. This role engages in ongoing risk management of vendors, its analysis, and reporting on those to the Vendor Management Advisor. This position will work closely with Vendor Management Advisor in coordinating all the ongoing and any new vendor relationships. A successful Vendor Management Specialist will be a part of all the ongoing monitoring of vendors which will then minimize vendor-rated risk and operate with confidence in services rendered for fees paid. The incumbent’s success will mean that Vendor Management Program has evolved managing all its administrative activities.

Requirements

Bachelor’s degree in information technology, Computer Science, Business Administration or related field.
Minimum three years Vendor and/or Account Management, Procurement, or related roles experience required.
Effective oral/written communication and interpersonal skills required.
Proficient with Microsoft Office Suite (Excel, Word, PowerPoint, Outlook, Teams, SharePoint) required.

Nice To Haves

Experience with vendor management software and tools is an added advantage.

Responsibilities

Manage the annual risk assessment process for critical vendors, including the collection of all due diligence and user entity control documentation.
Conduct business reviews for critical vendors on a regular basis, enabling respective relationship managers to better manage vendor performance.
Ensure vendor risk exposures are accurately measured and reported, escalating issues to the relevant internal partner to develop an appropriate remediation plan.
Communicate vendor responsibilities and findings of vendor reviews to the Vendor Management Advisor.
Help develop and be a part of evolving Vendor Management Program for the Bank.
Work toward the standardization of vendor management processes that achieve compliance standards and enable practical, efficient business function.
Be a part of deploying & managing the Vendor Management Tool at the Bank.