Vendor Manager - Business Segment

Regions Bank•Birmingham, AL

6d•Onsite

About The Position

At Regions, the Vendor Manager - Business Segment role supports and administers vendor management for a designated area or division. Ensures enterprise-wide needs for due diligence, risk assessment and continuing vendor monitoring are being accomplished and works to assess, address and monitor business impacts of outsourced service relationships. This role will also serve as the primary business unit point of contact for the Marketing Communications budget. Key responsibilities include budget oversight and coordination with business unit budget owners, business unit leadership, and Regions Finance partners to ensure strategic alignment, financial accuracy, and effective budget management.

Requirements

Bachelor's degree and five (5) years vendor management experience Or High School Diploma and nine (9) years vendor management experience
Ability to manage multiple tasks and projects in a timely manner
Excellent communication, negotiation, and influencing skills
Exceptional organizational, analytical and follow-through skills
Project management skills
Proven ability to build relationships
Strong knowledge of banking and regulations impacting business unit relationships

Responsibilities

Acts a liaison for area/division in partnership with Corporate Procurement to manage vendor relationships associated with outsourced services
Identifies, reports, and tracks vendor third party risk issues and implements remediation plans
Ensures compliance with expectations for due diligence, risk assessment and continuing vendor monitoring are accomplished
Oversees detailed reporting, documentation requirements and processes to ensure accuracy and completeness of vendor-submitted surveys, documents and deliverables
Facilitates contracts renewals in partnership with Business Segment Managers to ensure that contractual service level agreements are in alignment with the needs of the business
Oversees requests for new vendor relationships and the submittal of Third Party Questionnaires (TPQ), in order to effectively assess and address operational, reputational, customer and shareholder impact, information security and privacy risks, process/policies and procedures impact, staff impact, regulatory impact, and potential for financial loss
Manages third-party contract review and execution for business line, in partnership with Corporate Procurement
Facilitates the resolution of escalated vendor-related issues
Reviews exit plans and Service Organization Controls (SOC) reports as part of the TPQ process
Attends Working Group meetings for complex, critical or high-risk vendor relationships
May manage a team or group depending on area/division
Participates in and/or leads, as appropriate, the procurement process with vendors
Manages the governance, procurement and contract-related aspects of the business segment vendors in order to support corporate procurement and vendor management objectives
Communicates, educates and implements a common and consistent approach to vendor management within the business segment
Makes recommendations as appropriate to correct deviations from established standards and objectives
Completes critical vendor managements tasks
May lead the procurement process with vendors