Strategic Digital Vendor & Contracts Manager

Bank of Montreal; Chicago (IL); On-site; USD 112,000 - 209,000; Full time

Benefits offered by this job

Health insurance

Tuition reimbursement

Accident and life insurance

Retirement savings plans

Job summary

Bank of Montreal in Chicago seeks an Digital Account Manager to own the end-to-end vendor and contract lifecycle, ensuring regulatory and SLA compliance while optimizing commercial terms. You’ll manage budgets, forecasts, and invoices, collaborating with Procurement, Legal, Finance, and business teams to drive value.

The role emphasizes cross-functional governance, risk management, and performance reviews with key vendors to sustain service quality and cost efficiency.

Responsibilities

• Own the end-to-end management of vendor and partner contracts to ensure commercial compliance, operational effectiveness, and business continuity.
• Manage the complete contract lifecycle from onboarding, execution, amendments, renewals, and termination.
• Maintain a centralized repository of vendor contracts and associated documentation.
• Track key contract milestones, renewal dates, notice periods, and contractual obligations.
• Coordinate with Procurement, Legal, Finance, and business stakeholders during contract negotiations and renewals.
• Ensure vendors comply with contractual SLAs, KPIs, security requirements, and regulatory obligations.
• Identify contractual risks and develop mitigation plans.
• Drive contract optimization opportunities to improve commercial terms and service levels.
• Serve as the financial steward for vendor engagements by ensuring accurate budgeting, forecasting, cost control, and invoice management.
• Manage vendor budgets and monitor spend against approved allocations.
• Develop monthly, quarterly, and annual financial forecasts.
• Review vendor invoices for accuracy and contractual compliance.
• Resolve billing discrepancies and payment disputes.
• Track financial commitments, accrued liabilities, and purchase orders.
• Analyze spending trends and identify opportunities for cost optimization.
• Support annual budget planning and financial reviews with leadership.
• Ensure compliance with internal financial controls and procurement policies.
• Drive accountability and business value realization from strategic vendor relationships.
• Monitor vendor performance against agreed SLAs and operational KPIs.
• Conduct regular business reviews with vendors and internal stakeholders.
• Track service quality, delivery performance, issue resolution, and customer satisfaction metrics.
• Escalate performance concerns and coordinate corrective action plans.
• Identify opportunities to improve productivity, service quality, and cost efficiency.
• Support vendor scorecard development and executive reporting.
• Act as the primary liaison between internal business teams and external vendors.
• Build strong working relationships with vendor account teams and key internal stakeholders.
• Coordinate cross-functional discussions involving Procurement, Finance, Legal, Operations, Security, and Delivery teams.
• Communicate contract status, financial performance, risks, and recommendations to leadership.
• Facilitate governance meetings, business reviews, and executive discussions.
• Ensure alignment between vendor capabilities and business objectives.
• Monitor compliance with corporate policies and contract terms.
• Support vendor audits, assessments, and governance reviews.
• Identify operational, financial, legal, and delivery risks.
• Maintain risk registers and remediation plans.
• Ensure vendors meet data privacy, security, and regulatory standards.
• Track and manage contractual obligations, penalties, and service credits.
• Partner with procurement teams during RFP, RFQ, and vendor selection processes.
• Evaluate vendor proposals and commercial terms.
• Develop business cases for renewals and vendor investments.
• Lead renewal planning and negotiations to achieve favorable commercial outcomes.
• Benchmark pricing and market conditions to maximize value.
• Provide visibility into vendor performance, contract health, and financial outcomes.
• Develop executive dashboards and financial reports.
• Track contract utilization, spend, forecasts, savings, and vendor performance metrics.
• Present insights and recommendations to senior leadership.
• Support strategic planning through financial and operational analysis.

Job description

Bank of Montreal in Chicago seeks an Digital Account Manager to own the end-to-end vendor and contract lifecycle, ensuring regulatory and SLA compliance while optimizing commercial terms. You’ll manage budgets, forecasts, and invoices, collaborating with Procurement, Legal, Finance, and business teams to drive value.

The role emphasizes cross-functional governance, risk management, and performance reviews with key vendors to sustain service quality and cost efficiency.