Vendor Management Specialist - Outsourcing - Third Party Management - Financial Services

ZipRecruiter; London; On-site; GBP 45,000 - 75,000; Full time

Job summary

An established industry player is seeking a Vendor Management Specialist to enhance vendor relationships within their London office. This pivotal role involves overseeing the onboarding and offboarding of vendors, conducting thorough risk assessments, and ensuring compliance with financial regulations. The ideal candidate will leverage analytical skills to optimize vendor performance and identify cost-saving opportunities. Join a dynamic team where your contributions will directly impact the efficiency and success of vendor management strategies. If you are passionate about driving excellence in vendor relations, this opportunity is perfect for you.

Qualifications

• Strong experience in managing vendor relationships and contract compliance.
• Proven ability to conduct risk assessments and implement vendor management strategies.

Responsibilities

• Manage onboarding and offboarding processes for vendors and suppliers.
• Analyze vendor performance and ensure compliance with contractual obligations.

Skills

Contract Management

Vendor Management

Risk Assessment

Data Analysis

Compliance Knowledge

Education

Bachelor's Degree in Business or Finance

Job description

Job Description

Vendor Management Specialist - Outsourcing – Third Party Management – Financial Services

Excellent opportunity opens for a Senior Outsourcing & Vendor Officer with strong Contract Management experience to join a leading Financial Services entity’s Bank's London office. This role will manage the onboarding & offboarding of Vendors/Suppliers and successfully maintain relationships with them.

Key Responsibilities & Accountabilities

Vendor/Supplier Relations:

• Support in overseeing and managing external vendor/supplier relationships to ensure effective collaboration and communication.
• Facilitate the onboarding and offboarding processes for vendors and suppliers, ensuring smooth transitions and adherence to policies.
• Conduct thorough due diligence and risk assessments for all vendors and suppliers to ensure compliance with enterprise-wide standards.
• Implement and monitor ongoing vendor risk management practices to mitigate potential risks associated with outsourcing.
• Track and oversee renewal and expiry dates of all contractual agreements, ensuring timely renewals and adherence to contractual obligations.

Performance Monitoring and Reporting:

• Coordinate, track, measure, and report vendor/supplier performance against contractual obligations and costs.
• Analyse data to identify trends, track performance, and make informed decisions to optimise vendor relationships.
• Identify commercial sourcing opportunities and support the tendering process to ensure quality of service and value for money.
• Continuously review and assess the best routes to market to meet business needs and drive cost efficiencies.
• Ensure compliance with relevant regulations and standards governing outsourcing and vendor management in the financial sector.
• Stay updated on regulatory changes and implement necessary adjustments to vendor management practices.
• Utilize analytical expertise to identify savings opportunities and deliver measurable cost savings.

Strategic Alignment and Problem Solving:

• Align vendor management strategies with the bank’s overall business goals and objectives, ensuring strategic coherence.
• Collaborate with internal stakeholders to integrate vendor management practices into broader organizational strategies.
• Address and resolve issues that arise in vendor relationships, ensuring smooth operations and minimal disruptions.
• Implement proactive measures to prevent potential issues and enhance vendor performance.

Interested? Please Apply!

TPM Third Party Management Outsourcing Manager Outsourcing Officer Vendor Manager Vendor Management Onboarding Offboarding Supplier TPRM VM Financial Services Bank Banking Third-Party Vendor Management