Role details

Vendor Risk Manager

Toronto   •   CA$110,000 - CA$115,000   •  Permanent

Bullet points

  • Governance and Risk Management
  • Downtown Toronto Risk Management Opportunity

About Our Client

Our client is the shared services are of a multi-billion dollar corporation.

Job Description

  • Ensure vendor risk management and governance oversight of Strategic Vendor Partners is achieved by ensuring contractual agreements and the vendor risk management program are adhered to
  • Provide leadership, where required, on vendor risk management and contract management activities such as: legal reviews, risk assessments, warranty claims, contract segmentation, regulatory, finance, development of contract scorecards and response plans for contract and vendor risks
  • Understands the mandate and strategic direction of the vendor risk management function and takes ownership of roles and responsibilities both within the function, and across the team for the overall benefit and the delivery of its products and services to our Business Units
  • Demonstrates creative solutions capability by working together with global peers, understanding different perspectives and collaborating/sharing information with global team
  • Contribute to lowering the total cost of ownership across vendor risk management, and identify opportunities for cost savings, process improvement and vendor risk management programs
  • Strives to deliver quality solutions through continuous improvement and providing standard and consistent service levels both internally and externally to drive operational excellence for the team.
  • Conduct and maintain vendor segmentation, relationship management and risk due diligence activities
  • Interact with impacted Group leads to ensure they understand processes and requirements from a vendor risk management and governance standpoint. Work closely with Sourcing and Procurement team on a daily basis while establishing an environment of mutual trust, respect and accountability
  • Lead the preparation of reports for performance tracking related to contract compliance and performance metrics, internal customer surveys, vendor risk management dashboards and through ad-hoc feedback from relevant clients and complete preparation of monthly management reports to Executives.
  • Assess, evaluate, develop and execute response plans for contract and vendor risks. Execute contract and risk management changes that impact cost, schedule and scope, specific to contracts
  • Update and execute vendor communications plan and develop and manage vendor scorecards
  • Work closely with Sourcing Managers to develop and execute a vendor risk management assess for new vendors, existing vendor and Sourcing Events (RFx process)
  • Work with Sourcing, Finance, Contract Managers to prepare Service Provider performance data to identify trends, risks, issues and improvement opportunities and monitor effectiveness of Service Provider performance relative to improvement plans
  • Prepare reports for Service Provider performance tracking related to contract compliance and performance metrics, internal customer surveys, risk program, dashboards and through ad-hoc feedback from clients
  • Assist in developing Service Provider performance findings reports and recommendations to the Operations, Management and Executive Committees
  • Maintains Service Provider Performance Reports and updates executive team as required
  • Works with Finance and Business to ensure missed service levels result in appropriate service credits
  • Participate in risk governance meetings to understand current pain points, issues and escalations
  • Help drive a culture that is process-driven, structured, transparent and accountable
  • Maintain vendor risk management trackers, SharePoint governance sites, coordination of various governance risk management meetings and associated reports
  • Work with Legal to develop SOWs, Change Orders or other documents for Strategic Vendor Partners ensuring that risk is included as a component of the documents
  • Monitor contracts and contract changes and work with Contract Management in drafting contract changes/amendments including vendor risk management
  • Work with Communication Lead in the development and coordination of delivery of all communications originating from the Vendor Risk Management organization
  • Strives to deliver quality solutions through continuous improvement and providing standard and consistent service levels both internally and externally to drive risk management excellence for the team
  • Close working relationships with Sourcing, Contracts, Finance, Delivery Director and Tower Leads
  • Interacts with Operations Committee members as appropriate
  • Close working relationship with Service Provider Delivery Manager
  • Close working relationship with the Sourcing, Procurement and Contract Managers
  • Establishes an environment of mutual trust, respect and accountability

The Successful Applicant

  • 5 years in a Vendor Management or Governance and Compliance role - Candidates with a pure IT background will not be considered
  • Bachelor's degree in Computer Science, Business Administration, Finance, Accounting, or related field required
  • 5+ years' experience in a Service Provider management capacity, with a strong focus on IT contracts and outsourcing
  • Deep experience in vendor risk management programs and policy development
  • Experience in vendor and contract management activities related to Strategic Vendor Partners working relationships, management of the contract, management reporting, escalations
  • Deep operational knowledge of IT services
  • Experience in working in outsourced delivery environments (with either a Buyer or Service Provider)
  • Experience in Shared Services, matrix environment is a strong asset
  • High proficiency in MS Office Suite (Excel and PowerPoint specifically)
  • Excellent verbal and written communication skills
  • Highly motivated, proactive approach to improvement and work in and support a team environment
  • Capable of working on multiple tasks/projects simultaneously without sacrificing quality
  • Build effective & productive working relationships across business towers
  • Functional knowledge of outsourcing process(es)
  • Information Technology
  • Project Management
  • Vendor Risk Management
  • Policy development for key vendor policies
  • Planning & Time Management
  • Evaluation & Decision Analysis Strong understanding of data and financial analysis
  • Financial Services Industry & Business Knowledge
  • IT, Procurement and Organizational Performance
  • Vendor and Contract Management
  • Issue and Risk Management
  • Effective Executive Communications
  • Leadership & Influence
  • Client Experience/Customer Service
  • General Accounting Principles, Budgeting, Forecasting, Invoicing, Asset Management

What's on Offer

Strong base salary and bonus

Apply for this job

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