Vendor Manager III (US)

TD Bank • Wilmington, DE

1d • $91,000 - $145,600

About The Position

The Vendor Manager III manages Third Party Business Arrangements through all stages of the TPML, in alignment with relevant frameworks, policies and standards. Vendor Managers are expected to understand and maintain knowledge of Business Arrangement terms (including key Third Party and business segment or corporate function (TD) deliverables). Vendor Managers are also responsible for monitoring, analyzing and reporting on performance of Business Arrangements and identifying and escalating issues where identified in order to mitigate risk. On more strategic, critical and/or complex relationships across multiple business segments or corporate functions, role may also act as the Lead Vendor Manager supporting the Accountable Executive that owns TD's relationship with the Third Party. Depth & Scope: Expert level professional role requiring substantial knowledge / expertise in a complex field and knowledge of broader related areas Integrates knowledge of the enterprise sub-function’s or business line’s overarching strategy in developing solutions across multiple functions or operations Interprets internal/external business challenges and the industry environment, recommends course of action and best practices to improve products, processes or services Acts as a lead integrating cross-function understanding within their own field of specialty; with significant resource requirements, risk and / or complexity Independently manages business arrangements Solves or may lead others to solve complex problems; leads efforts or partners with others to develop new solutions Uses sophisticated analytical thought to exercise judgement and identify solutions Impacts the achievement of sub-function or business line objectives within the area they are accountable for Supports advanced methods to contribute to new solutions and recommend standards against which others will operate Communicates difficult concepts; converts information to compelling business context and advice; influences and gains alignment across increasingly senior stakeholders Works autonomously as the lead and guides others within area of expertise

Requirements

• Undergraduate degree
• 7+ years of related experience
• Advanced knowledge of Vendor Management, Business Arrangements, Third-Party Management Lifecycle framework/principles, policies and procedures, systems, products/services, product research, assessment & reporting, competitive intelligence, negotiation tactics and/or regulatory requirements
• Knowledge of current and emerging competitor and market trends
• Knowledge of Risk Management environment, standards and regulations
• Knowledge of budgetary management principles/practices/procedures
• Skill in identifying complex problems and reviewing related information to develop/evaluate options and implement solutions and/or governance procedures
• Skill in supporting the development and implementation of change strategies and/or processes
• Ability to negotiate, influence, collaborate and effectively communicate to build relationships
• Ability to contribute to strategic direction of the function and provide advice to senior leadership
• Ability to monitor, analyze, report and assess adherence, performance and risk of information, contractual terms and/or delivery of services
• Skill in researching, collecting, organizing and analyzing complex or technical data and developing plans to address identified issues/problems
• Ability to lead, plan, implement and evaluate program/project activities to ensure completion of initiatives
• Ability to exercise sound judgement in making decisions
• Ability to research, collect, organize and analyze information and prioritize work while meeting multiple deadlines
• Skill in using analytical software tools, data analysis methods and reporting techniques
• Skill in using computer applications including MS Office
• Ability to work successfully as a member of a team and independently
• Ability to handle confidential information with discretion

Nice To Haves

• Experience with partnership management with the credit bureaus

Responsibilities

• Owns the management of Third Party Business Arrangements through all stages of the TPML, in alignment with relevant Third Party frameworks, policies and standards
• Initiates intake via a Sourcing Request and follow the TPRA process
• Sets up and onboards Third Parties post contract execution including the implementation of the governance structure and interaction models between key TD and Third Party stakeholders
• Understands the financial terms of a Business Arrangement and monitors a Third Party's financial health to mitigate risk related to costs and services
• Collaborates with internal stakeholders to support business needs by delivering a transition or termination of a Third Party
• Supports Lead VMOs in consolidating an enterprise view of the relationship with the Third Party in support of the Accountable Executive
• Maintains strong relationships with internal stakeholders
• Ensures integrity in dealing with Third Parties, complying with TD's Expense Policy, Enterprise Procurement Policy, Vendor Management Policy and Code of Conduct and Ethics
• Focus on continuous improvements to facilitate entering into Third Party Business Arrangements and promote effective delivery
• Consistently exercises discretion in managing correspondence, information and all matters of confidentiality; escalates issues where appropriate
• Manages Third Party Business Arrangements through all stages of the TPML, in alignment with relevant frameworks, policies and standards
• Monitors, analyzes and reports a Third Party's performance through delivery against SLAs, SLOs, KPIs or other contractual commitments
• Identifies issues and monitors trends with a Third Party in a responsive manner, to reduce risk in alignment with TPRM Policies and related Standards
• Documents Third Party risk issues, as per the TPRM Issues Management process and standards, escalates issues as appropriate, and partners with Third Party to develop a remediation plan to drive resolution
• Participates in cross-functional initiatives as a subject matter expert helping to identify risk / provide guidance for complex situations
• Conducts internal and external research projects; supports the development/ delivery of presentations / communications to management or broader audience
• Conducts meaningful analysis at the functional level using results to draw conclusions, makes recommendations, assesses the effectiveness of programs or practices
• Monitors service, productivity and assesses efficiency levels within own function and implement continuous process / performance improvements where opportunities exists
• Maintains a culture of risk management and control, supported by effective processes in alignment with risk appetite
• Participates fully as a member of the team, support a positive work environment that promotes service to the business, quality, innovation and teamwork and ensures timely communication of issues/ points of interest
• Provides thought leadership and/ or industry knowledge for own area of expertise in own area and participates in knowledge transfer within the team and business unit
• Keeps current on emerging trends/ developments and grow knowledge of the business, related tools and techniques
• Participates in personal performance management and development activities, including cross training within own team
• Keeps others informed and up-to-date about the status / progress of projects and / or all relevant or useful information related to day-to-day activities
• Contributes to team development of skills and capabilities through mentorship of others, by sharing knowledge and experiences and leveraging best practices
• Leads, motivates and develops relationships with internal and external business partners / stakeholders to develop productive working relationships
• Contributes to a fair, positive and equitable environment that supports a diverse workforce
• Acts as a brand ambassador for your business area/function and the bank, both internally and/or externally

Benefits

• Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals.
• Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.

What This Job Offers

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