Procurement & Vendor Management Analyst
New York, NY 10017
High Profile Asset Management Company seeks IT Procurement and Vendor Analyst.
You will play a pivotal role in supporting the IT Group managing Vendor Procurement and related Third Party Risk Management.
This will include vendor relationship management, helping with sourcing and vendor selection, contract review and participating in pricing negotiations, risk mitigation, vendor on-boarding and on-going vendor monitoring responsibilities.
You will lead multiple projects within different internal departments working with a variety of IT related vendors.
This is an immediate full-time direct hire role with an organization that offer very competitive compensation and an amazing benefits package (100% company paid healthcare, 4 weeks vacation,...).
In summary you will:
- Write business cases (memos) based on IT Group Subject Matter Experts input for management to review and approve.
- On-board and manage TPRM process for vendors
- Monitor renewals to avoid gaps in service/support
- Perform pre-contract support, including vendor pre-qualification, RFI, RFP and RFx administration
- Review and help to negotiate contracts (NDAs, master agreements, amendments, statements of work, etc.)
- Drive utilization of company contract templates and minimize deviations
- Identify and generate contracting process improvements (i.e., propose modifications to company templates, regularly host meetings with business owners to discuss contract T & C improvement)
- Interface with Business Managers to ensure contract negotiation objectives align with key stakeholder expectations and provide project status and analysis throughout the negotiation and contract development phases
- Evaluate vendor documents to determine acceptability based on business unit needs and industry standards
- Resolve contractual and interpretive differences between vendors and business units
- Provide financial analysis support for financial negotiations of contracts
- Develop goals and metrics for measuring and managing supplier performance
- Analyze vendor risk and help to create third party contingency plans
- Ensure that vendors are current with the TPRM program including the TPRM policy, framework and procedures
- Oversees the day-to-day risk mitigation, monitoring, and reporting as it relates to third party relationships
- Considered subject matter expert in associated risk and risk management methodology for IT Group
- Review vendor risk assessment outputs to ensure risk has been appropriately assessed
- Delivers reporting from the third-party risk management platform and team presentations to stakeholders, including to senior management.
- Obtain and maintain necessary training to keep current on the discipline of third-party risk management, including regulatory and industry practices
- Completed college degree and 3+ years of experience in Procurement / Vendor Contract Management and/or TPRM, compliance, quality assurance/control, audit or other related risk management function
- Must have strong computer skills and knowledge including MS Word, Excel and PowerPoint
- Banking experience preferred
- Strong organizational, problem solving, and planning skills with the ability to set priorities
- Self-starter with high sense of urgency and ability to handle multiple tasks simultaneously
- Critical thinker that can make difficult decisions under pressure and manage large projects
- Willingness to learn and adapt quickly with a positive and upbeat mindset
- Understanding of fundamental risk theories, principles, and concepts (preferably in the context of third-party risk for financial institutions)
- High ethical standards
- Experience evaluating and examining policies, procedures, business documents, and IT Security
- Ability to read, analyze and interpret financial report and/or legal documents.
- Ability to build strong partnerships with stakeholders (internal and external)
- Assertiveness to negotiate and mediate complex contracts and commercial terms
- Strong interpersonal and time management skills
- Self-starter with the ability to work independently