What are the responsibilities and job description for the Vender Management Specialist position at Park Community Credit Union?
Role:
By emphasizing ONE Park, ONE Mission, One Team, the Vendor Management Specialist oversees the credit union's vendor due diligence program, ensuring compliance with regulatory requirements and internal policies. This role is responsible for managing the vendor lifecycle, including due diligence, risk assessments, ongoing monitoring, and performance evaluations. The Vendor Management Specialist collaborates with internal stakeholders to assess vendor relationships, maintain accurate documentation, and implement process improvements to enhance vendor oversight. Additionally, this position ensures timely reporting, supports audit and regulatory reviews, and provides guidance on vendor risk management to protect the credit union's interests.
Essential Functions & Responsibilities:
- Oversight of the vendor management program, ensuring its effectiveness at every phase. Support the program by attending exploratory meetings and identifying key stakeholders across the credit union for decision-making. Coordinate the collection and review of due diligence information to ensure regulatory compliance and assess risk. Facilitate stakeholder discussions and Executive Management Sponsor reviews for approvals. Monitor expiration and renewal dates and collaborate with Relationship Managers to complete annual vendor reviews. Track cost savings achieved through negotiations, terminations, and process improvements that reduce redundancy across departments. Maintain and update the Vendor Management Policy as needed.
- Manage the vendor management system, ensuring accuracy and implementing improvements as needed. Maintain and review all collected documentation for compliance and completeness. Coordinate ongoing due diligence and risk assessments to support vendor oversight.
- Review contracts to ensure required terms are met and assist Relationship Managers during contract negotiations and pricing structures. Assess contracts for legal review by identifying priorities, developing templates, and defining criteria for contracts that do not require legal oversight.
- Perform other job-related duties as assigned.
Performance Measurements:
1. To be an ambassador of Park's culture supporting the credit union's mission to build thriving communities together ensuring words and actions align with the Park VIBE that defines our Core Values:
Vibrant Connections
Inclusive Excellence
Bold Compassion
Endless Empowerment
2. To provide exceptional service and consistently strive for excellence in every interaction.
3. To keep management informed of key operation issues affecting the department and/or vendor program.
4. To follow the credit union’s Bank Secrecy Act and anti-money laundering policies and procedures, including running OFAC searches, completing investigative reports of suspicious activity and currency transaction reports timely and without error.
5. To maintain a professional work environment, promote teamwork, build respect among coworkers and present a businesslike appearance
6. To follow all security policies and procedures and report discrepancies or suspicious activity to manager immediately.
Knowledge and Skills:
Experience: Three years to five years of similar or related experience in a financial institution preferred. Vendor Management experience working in procurement, contract management, and/or vendor management is required.
Education: (1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree (e.g., information technology certifications in lieu of a degree).
Interpersonal Skills: Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
Other Skills: Ability to work effectively with all levels of management and staff. Effective written and verbal communications, analytical, and interpersonal skills. Professional and service-focused communication etiquette. Strong computer skills and willingness to learn applicable vendor management systems. Detail-oriented to generate accurate and precise results. Creative problem-solving and critical thinking skills.
Physical Requirements
WORK ENVIRONMENT The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this position. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions. While performing the essential duties of this position, the employee is regularly exposed to a general office environment and interaction with customers.
PHYSICAL DEMANDS The physical demands described here are representative of those required to successfully perform the essential functions of this position, but do not necessarily constitute an exhaustive list of all essential functions. To the extent required by any applicable law, reasonable accommodations will be made to enable qualified individuals with disabilities to perform essential functions where this can be done without posing a direct threat to self or others.
While performing the essential duties of this position, the employee frequently must sit, stand, and walk short distances. The employee frequently uses hands and fingers to count currency and handle, manipulate, and feel objects, documents, and office tools and equipment. Reads, writes, listens, speaks, and uses personal computers, copiers, telephones, and other office equipment and software throughout the work day. The employee is occasionally required to stoop, bend, squat, and reach overhead with hands and arms. Occasionally pushing and pulling of office furniture and other objects. The employee may occasionally lift and/or move up to 15 pounds and on occasion lift and/or move up to 25 pounds.
PARK COMMUNITY CREDIT UNION IS AN EQUAL OPPORTUNITY EMPLOYER/VETERANS/DISABLED
