VP, Vendor Manager

Join Triumph Financial!

At Triumph Financial, we’re focused on creating value by driving business and communities of all sizes toward the future. That’s why we’re looking for passionate, solutions-oriented people to join our team. As a values-driven financial service company, our goal is to help our clients succeed and our communities prosper – and that starts with forward-thinking professionals dedicated to our purpose of Helping People Triumph.

Position Summary

Reporting to the Head of Procurement, the VP, Vendor Manager is responsible for (1) overseeing the Vendor Management program (2) implementing Vendor Management processes, policies, standards, and technologies (3) creating mechanisms to monitor and enforce ongoing compliance to those policies and standards (4) risk rating vendors to ensure that they meet the defined standards (5) developing and promoting awareness and training to the Vendor Management program. Strong knowledge of vendor management practices coupled with excellent communication and diplomacy skills are required for success.

Essential Duties & Responsibilities

• Develop and implement a Vendor Management strategic plan that addresses any risk mitigation and efficiency gaps within the existing Vendor Management Program.

• Refine, develop and implement policies, procedures, and controls to ensure compliance with regulatory requirements and internal standards.

• Maintain a vendor risk management framework, including risk assessment methodologies, risk rating criteria, and ongoing monitoring mechanisms.

• Facilitate continuous improvement of the program and risk mitigation efforts – including evaluating and selecting appropriate methods and tools to assist in this endeavor.

• Serve as a subject matter expert on vendor management best practices, regulatory requirements, and industry standards, and provide guidance and training to internal stakeholders.

• Develop Vendor Relationship Management program, monitor and manage the overall performance of vendor products and services purchased by Triumph Financial.  Develop requirements and measurements to monitor and achieve continuous performance improvement for critical vendors.

• Collaborate with internal audit, legal, compliance, risk, and other relevant departments to address vendor-related issues and ensure alignment with organizational goals and objectives.

• Foster a culture of accountability, transparency, and continuous improvement within the vendor management function.

• Engage with and influence senior level stakeholders and business unit leaders to promote excellence in identifying and managing risks present within third party relationships.

• Provide vendor management guidance and expertise to vendor owners in order to promote adoption of vendor management policies and standards – including forming a strong understanding of product and service delivery objectives.

• Develop, prepare and provide ongoing reporting of the vendor program including operational metrics and emerging risks to appropriate committees.

• Monitor contractual and other key vendor documents to ensure vendor owners are aware of key dates associated with vendor oversight (e.g., contract and insurance expiration, etc.).

Experience & Education

• Bachelor’s degree in Business, Management Information Systems or related field or equivalent work experience

• 10 years vendor management experience in a professional environment supporting multi-function business units.

• Strong familiarity with vendor management software tools, methodologies, and best practices

• Strong familiarity with regulatory vendor management requirements and best practices, preferably in the financial services industry including, but not limited to, FFIEC Guidelines and Consumer Compliance requirements.

• Maintain an awareness of all regulatory requirements and risks associated with vendors and the services they perform, including providing recommendations to vendor owners, as appropriate.

• Maintain an awareness of emerging risks related to existing or potential third-party relationship from external sources (e.g., negative news reports, complaints, reports of exams, mergers and acquisitions, independent audit/testing reports, etc.).

• Determine appropriate timelines and deliverables for vendor due diligence documentation and review with the goal of facilitating appropriate reviews by internal risk partners (e.g., financial statement analysis, information security standards, business continuity and disaster recovery standards, consumer compliance standards, legal reviews of contracts, etc.).