Senior Analyst, Service Provider Management

About this Position

The Senior Analyst role is part of Global Investment Operations and has responsibility for management of one or more critical service provider relationships, where the services provided are essential to the uninterrupted performance of a critical business process, and have direct impact to client services or the firm’s reputation. The objectives of this role are achieved by leveraging firm knowledge, documenting and implementing effective vendor oversight processes within the investment management lifecycle, operationalizing effective vendor governance structures, maintaining a holistic view of the provider(s) and effective communication for decision-making.

Role Summary

Responsible for the service provider oversight program for assigned vendor(s). Contributes to the development, implementation, and maintenance of the program's governance model and various processes around service-level agreements, request for proposal assessments, performance monitoring, due diligence, provider audits, and transition plans. Facilitates the evaluation and capability assessment of service providers. Typically has direct accountability for a limited number of standard or moderately complex vendors and/or portfolios.

Responsibilities

• Serves as knowledge base on vendor’s product/service portfolio for the firm; portfolio is moderately sized with some complexity. Coordinates overall provider governance and interaction program. Facilitates strategic alignment between T. Rowe Price and service provider. Prepares regular reports on the overall status of the relationship and performance against agreed service levels; presents to management and other stakeholder and governing bodies. Participates in contract and fee schedule negotiations for new services, new products, renewals etc.; coordinates support from legal and procurement. Acts as a first point of escalation for operational issues that cannot be solved within the functional teams. Participates in relationship governance reviews and committees.
• Participates in, and can occasionally lead, the negotiation and implementation of detailed service level agreements (SLAs), and monitors ongoing adherence to the terms of such agreements. Coordinates periodic reviews of the SLAs and updates as required. Coordinates, and can lead, regular on-site due diligence, including observation, validation and reperformance of contracted functions following a risk based approach. Performs periodic audits of contracted services. Monitors service delivery trends and evaluates service provider performance issues. Participates in, and can lead, regular service review meetings with senior-level service provider representatives. Serves as an escalation contact for T. Rowe Price service provider concerns raised in regular service review meetings with T. Rowe Price managers and stakeholders. Evaluates errors, service failures, and control exceptions. Escalates remediation concerns and delays to T. Rowe Price management and service provider’s relationship manager. Participates in periodic review of T. Rowe Price service provider oversight activities. Identifies opportunities to strengthen the service provider oversight program.
• Coordinates, and may lead, the request for proposal process for selection of service providers for new and/or existing services when required by firm policy or general business practice. Facilitates participation from multiple internal stakeholders such as legal, compliance, risk, sourcing, product management, investments, etc. Reports on assessment and request for proposal results in an efficient and effective format for management consumption.
• Manages a service provider transition program with the objective of transitioning new or additional scope of products/services to a new or existing relationship. Works with multiple stakeholders across various functions and within numerous work streams, e.g., information technology, human resources, legal, operations, service provider, etc. Produces and communicates transition milestone and issue/risk status to key stakeholders.
• Serves as service provider oversight champion by communicating the benefits and value of vendor management in various forums. Utilizes knowledge and experience to drive continuous improvements to the oversight program, performance management methodology, and stakeholder reporting.

Qualifications

Required:

• Bachelor's degree or the equivalent combination of education and relevant experience AND
• 5+ years of total relevant work experience

Preferred:

• Risk Management experience
• Asset Management experience
• Investment operations and technology knowledge
• Relationship management experience (internal and external)
• Contract management
• Performance management, including KPIs an