What are the responsibilities and job description for the Vendor Management Specialist position at National Cooperative Bank?
Vendor Management Specialist
VA or OH Office
The Vendor Management Specialist is responsible for overseeing and managing the Bank's third-party risk management program. This role will ensure that third-party relationships are established, maintained, and terminated in accordance with the Bank's policies and procedures.
- Third-Party Lifecycle Management:
- Oversee the entire lifecycle of third-party relationships, including onboarding, ongoing monitoring, and termination.
- Conduct due diligence and risk assessments on new third-party vendors.
- Monitor existing third-party relationships to identify and mitigate potential risks.
- Coordinate and document termination activities for third-party relationships.
- Facilitate vendor contract renewal planning and contract renegotiations.
- Access Management:
- Assist in provisioning and revoking access for third-party contractors.
- Ensure that access rights are granted and revoked in accordance with the Bank's security policies.
- Recordkeeping and Reporting:
- Maintain accurate and up-to-date records of third-party relationships, contracts, and risk assessments.
- Prepare and submit regular reports on third-party risk to management and the Board.
- Incident Response and Management:
- Coordinate with the Information Security team to respond to and investigate security incidents involving third-party vendors.
- Work with third-party vendors to implement corrective actions and mitigate risks.
- Regulatory Compliance:
- Stay informed of regulatory requirements and industry best practices.
- Ensure that the third-party risk management program complies with all applicable regulations.
- Participate in audits and exams conducted by internal and external auditors.
- Training and Awareness:
- Develop and deliver training programs to educate employees on third-party risk management.
- Promote a culture of risk awareness and compliance within the organization.
Qualifications:
- Bachelor's degree in information security, risk management, contract management, or a related field and/or 4 years of related work experience.
- Paralegal experience preferred.
- Strong understanding of third-party risk management frameworks and standards (e.g., NIST, ISO 27001).
- Experience with vendor risk assessment and due diligence processes.
- Knowledge of cybersecurity principles and threat landscape.
- Strong analytical and problem-solving skills.
- Excellent written and verbal communication skills.
- Ability to work independently and as part of a team.
This role requires a strong understanding of the Bank's business operations, risk appetite, and regulatory requirements. The successful candidate will be a proactive and detail-oriented individual who can effectively manage multiple priorities and build strong relationships with internal and external stakeholders.
