What are the responsibilities and job description for the Vendor Relationship Owner III position at Trustmark?
Vendor Relationship Owner III
Location
US-MS, AL, TX, FL, TN, GA
Job ID
2024-18003
Category
Risk Management
Type
Regular Full-Time
Job Grade
FLSA Status
Exempt
Working Hours
M-F 8am - 5pm
Job Location : Company
Chief Risk Administration - 10164 - Remote
Overview
The Vendor Relationship Owner position is assigned responsibility for managing the third-party relationship throughout an engagement lifecycle. This includes gathering due diligence materials on the service provider, coordinating with key stakeholders for risk assessments to occur, monitoring and managing the risk, assessing performance, and ensuring compliance with Policy and reporting requirements. They must also be able to monitor any changes in the status of the service provider, along with the Service Owners (SOs), and escalate any material issues that may arise over the duration of the relationship.
Responsibilities
Provide third party oversight, management, and monitoring (including documentation in the system of record). This would include coordination of Performance Reviews with the Service Owners.
- Oversee and monitor the activities of the first line of defense related to its third-party responsibilities.
- Maintain a complete inventory of area of responsibility in conjunction with the 2nd line of defense.
- Coordinate all key personnel involved in the planning process including all renewals.
- Assist in the gathering due diligence materials from the service provider.
- Coordinate risk assessments with key stakeholders, service provider, and subject matter experts and resolve any issues.
- Support Strategic Sourcing and Legal during the contract phase of the lifecycle, including renewals.
- Ensure compliance with policy and reporting requirements and monitor any service provider changes.
- Escalate any material issues that may arise over the duration of the relationship.
- Coordinate the termination and exiting of a vendor with appropriate stakeholders in accordance the Third-Party Risk Management (TPRM) Framework.
- Coordinate with Service Owners to ensure proper documentation is provided for a Third Party that requires Working Group Approval.
- Performs additional duties as assigned.
Qualifications
Physical Requirements / Working Conditions : Must be able to sit for long periods of time and use computer keyboard / or mouse, while viewing computer screens.
Note : This is a brief description of this position and is not limited to those described herein. Management retains the right to add, delete or modify any of these responsibilities at any time during employment.
