Technology & Vendor Risk Specialist

NETS; Singapore; On-site; SGD 80,000 - 120,000; Full time

Job summary

A leading payments services group in Singapore seeks an experienced IT Vendor Risk Manager to oversee vendor management processes and ensure compliance with regulatory requirements. The role involves managing vendor performance, executing contracting processes, and collaborating with stakeholders to align vendor standards with business objectives. Ideal candidates should possess a degree in Information Technology or a related field, along with 7-9 years of relevant experience in vendor management, particularly within the payments sector. Strong analytical, communication, and problem-solving skills are required as well as a risk-minded approach to vendor management.

Qualifications

• 7-9 years of experience in IT vendor management or procurement.
• Experience in the payments industry with vendor performance management.
• Strong understanding of regulatory requirements related to IT.

Responsibilities

• Oversee IT vendor management and associated risks.
• Manage contracting processes for vendor agreements.
• Track vendor performance against KPIs and SLAs.

Skills

Vendor relationship management

Risk management

Regulatory compliance

Analytical skills

Problem-solving

Communication skills

Education

Degree in Information Technology or Business Administration

Tools

Vendor management software

Job description

The NETS Group is a leading payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain.

The Group operates Singapore’s national debit scheme enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 130,000 acceptance points in the country as well as online payments.

The IT Vendor Risk Manager is part of the Risk Management line 1.5 defense, working with IT risk owners to ensure controls are effective and managed. The individual will be primary responsible for overall vendor management, including but not limited to vendor contracting, performance management (e.g., KPIs and SLAs tracking, risk and compliance management in line with regulatory and legal requirements, and continuous improvement), and risk management (e.g., due diligence).

Job Responsibilities:

• Oversee ITvendor managementand manage risks associated with IT vendors
• Managecontracting processes with contract owners and relevant SME, ensuring all vendor agreements align with NETS policies and regulatory requirements
• Track and review vendor performance against defined KPIs and SLAs, ensuring vendorsfulfilperformance standards.
• Continuouslymonitorvendor security posture through due diligence performed by contract owners to track compliance and performance
• Monitor third party activities throughout TPRM lifecycle to ensurecompliance withregulatory and NETS requirements, supporting review conducted by SME and perform assessments to mitigate risks.
• Drive initiatives for continuous improvement in vendor management processes, enhancing efficiency and effectivenessto align with evolving security standards, regulatoryrequirements,and emerging risks in third-party ecosystemsConduct thorough due diligence on potential vendors to ensure they meetNETS standards for reliability, security, and compliance
• Provide periodic reporting on vendor performance, risks, and compliance to senior management and other stakeholders.
• Collaborate with internal stakeholders, including Technology division, Finance, Risk and Compliance, Legal to align vendor management standards with business objectives and requirements.

Requirements:

• Degree in Information Technology, Business Administration, or a related field
• Minimum 7-9 years of experience in IT vendor management, procurement, or a related area
• Proven experience in managing vendor relationships within the payments industry including vendor performance management and dispute resolution
• Strong understanding of regulatory and legal requirements related to IT vendor management
• Exhibit strong risk mindset, ensuring rigorous execution and adherence to best practices in line with industry.
• Excellent analytical skills with the ability to assess vendor performance, track KPIs, and develop improvement plans
• Good written and verbal communication skills
• Strong problem-solving skills with a proactive approach to identifying issues, developing solutions, and implementing changes to improve vendor management processes
• Certifications such as CISA, CISM, CISSP, CRISC or any relevant certification is an advantage

Network for Electronic Transfers (Singapore) Pte Ltd.