Hybrid Vendor Management Analyst

at Byline Bank

• Job title: Vendor Management Analyst
• Job type: Full Time
• Experience level: Mid level, Senior
• Salary: $61,000 - $76,000 per year
• Degree requirement: Bachelor's Degree
• Location requirements: Hybrid, Chicago, United States

About the role

• Vendor Management Analyst supporting the Bank’s Third-Party Risk Management Program and Policy. Responsible for vendor risk assessment, due diligence, and continuous monitoring processes.

Responsibilities

• Completes inherent risk assessment activities to properly rate vendors using a risk-based approach
• Analyzes vendor relationships to assess suitability at the time of onboarding, ongoing monitoring, and offboarding
• Assists with preparing management reporting of Vendor Management Key Risk Indicators (KRIs)
• Completes annual vendor performance assessments of the Bank’s vendors
• Responsible for updating and maintaining the integrity of the Bank’s Vendor Management databases and software application
• Actively collaborates with Business Units including but not limited to Accounts Payable, Information Security, Business Continuity/Disaster Recovery, Legal, Credit, Compliance, BSA/AML, and Project Management teams
• Proactively communicates Vendor Management issues to manager and recommends and assists with implementing solutions
• Build, establish, and maintain vendor relationships, in conjunction with the Business Unit managers
• Obtains required due diligence documents and ensures these are collected, reviewed, and approved when conducting necessary assessments for new and existing vendor relationships
• Coordinates contract reviews with Legal, vendors, and business units
• Assists in the administration of vendor contracts, specially related to contract term dates and other contract requirements as needed
• Identifies added value and savings opportunities on third party spend
• Raises, escalates, and remediates Vendor Management findings and operational events to manager
• Manages and responds to Vendor Management Inbox inquiries
• Performs administrative, performance, tracking and reporting tasks, identify process gaps, and support the implementation of appropriate mitigating actions to drive efficiencies
• Provides support of vendor activities to achieve the goals and objects of the organization
• Prepares dashboards, reports trends, and tracks progress as needed to monitor the execution of the risk assessment framework and assess the effectiveness of the control environment
• Participates in audits to ensure vendor compliance with legal requirements, firm and industry standards, and contractual provisions
• Conducts training of individuals completing risk assessments and leads Inherent Risk Meetings
• Serves as a specialist on vendor management policies, processes, and systems
• All other duties as assigned.

Requirements

• Bachelor’s degree preferred
• Professional certification a plus
• 3+ years of experience in Vendor Management
• Experience in areas of Internal Audit, Compliance, or Risk Management preferred
• Familiarity with regulatory third-party/vendor management requirements, such as FFIEC, OCC, and FDIC
• Knowledge of contract language terms, information security, disaster recovery, and insurance
• Effective interpersonal skills in collaborating with vendors, business units, team members
• Ability to work collaboratively with a variety of stakeholders at all levels
• Be self-motivated with a strong attention to detail
• Strong project management skills, with proven ability to coordinate multiple tasks on an ongoing basis
• Ability to identify, understand and define problems, evaluate alternatives, set priorities, manage projects and implement high quality solutions
• Possess strong communication skills both verbally and in writing
• Comfortable communicating with management and leaders
• Proficient in Microsoft Office Suite (Excel, Word, PowerPoint)
• Ability to operate proactively and have a continuous improvement mindset to identify enhancements and efficiencies.

Benefits

• medical coverage
• dental
• vision
• disability
• 401k
• paid time off
• discretionary bonuses
• other benefit programs