Vendor Management Officer

River City Bank; Sacramento (CA); On-site; USD 110,000 - 150,000; Full time

Job summary

River City Bank is seeking a Vendor Management Officer to oversee third-party vendor relationships and ensure an effective Vendor Management Program in compliance with applicable laws and regulations. The role collaborates across IT, security, operations, and risk to address vendor-related risks.

Ideal candidates have 2+ years in vendor management, contract negotiation experience, and a degree or equivalent along with relevant certifications.

Qualifications

• Excellent project management and organization required.
• Strong understanding of contract law and risk implications.
• Exceptional communication and negotiation skills with internal and external stakeholders.

Responsibilities

• Maintains a comprehensive inventory of all vendors and contracts.
• Performs vendor risk assessments and due diligence.
• Collaborates with management to ensure regulatory and policy compliance.
• Administers vendor management software and contract lifecycle processes.
• Ensures vendor contracts align with business needs and regulatory standards.

Skills

Project management

Contract law

Communication

Negotiation

Detail orientation

Regulatory knowledge

Education

Bachelor's degree or equivalent

Paralegal certification preferred

CTPRP/CTPRA preferred

Job description

The Vendor Management Officer is responsible for managing third-party vendor and business partner relationships of the Bank throughout their life cycle and ensuring the Bank maintains an effective Vendor Management Program in compliance with all applicable laws, rules, and regulations

Essential Functions

• 1. Maintains a comprehensive inventory of all vendors and their associated contracts, ensuring the accuracy and completeness of the vendor information.
• 2. Performs risk assessments and ongoing due diligence measures, reviews and writes related policies and procedures, makes recommendations to Senior Management when and where appropriate, and submits reports to the Risk Management Committee and the Audit Committee of the Board of Directors detailing the Bank's vendor management risk-related compliance issues.
• 3. Partners with Bank management (Vendor Owners) to ensure that vendor financial, performance, risk, and compliance requirements are being met and remediates any gaps or deficiencies related to third-party service provider's compliance management system or ability to comply with applicable laws, rules, and regulations.
• 4. Works internally with information security, information technology, operations, internal audit, credit, compliance, and accounting to address liability, financial and operational risks that tie to vendor contracts.
• 5. Develops and maintains a strong relationship with Vendor Owners, acting as the primary point of contact for contract-related inquiries and issues.
• 6. Ensures Bank policies, procedures, and processes are updated to reflect changes in law or regulations, and recommends changes to policies, procedures, and processes to minimize risk.
• 7. Ensures contract approval routing and authorization of executed contracts meets Bank policy relative to signature approval as defined in the Bank's purchasing policy.
• 8. Evaluates vendor performance through key performance indicators and service level agreements and works with Vendor Owners to address deficiencies.
• 9. Collaborates with various departments to identify and mitigate vendor-related risks, ensuring that vendors comply with regulatory requirements and Bank policies.
• 10. Conducts regular vendor risk assessments and due diligence reviews to assess vendor stability, security, and compliance, including those related to consumer protection and security of customer information.
• 11. Manages the vendor onboarding and offboarding process, including due diligence, contract negotiation, and termination procedures.
• 12. Coordinates with management to ensure that the vendor contracts align with business requirements and comply with legal and regulatory standards.
• 13. Manages adherence to contract terms and conditions by both the Bank and its vendors.
• 14. Tracks current contract information related to renewal/expiration dates, service level requirements, pricing, and products.
• 15. Maintains a strong working knowledge of contract management guidelines related to supplier contracts and customizes legal contract language within those guidelines to address specific business issues.
• 16. Acts as the administrator of the Bank's vendor management software.
• 17. Assures compliance with all Bank policies, procedures, and processes, and all applicable state and federal banking laws, rules, and regulations, and adheres to Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) responsibilities that are specific to the position.

PI286748101

• Previous contract administration/management experience
• Minimum of 2 years Vendor Management Program experience
• Contract negotiation experience

Education

• Bachelor's degree or equivalent experience
• Paralegal certification preferred
• Certified Third Party Risk Professional (CTPRP) or Certified Third Party Risk Assessor (CTPRA) preferred

Knowledge Skills/Abilities

• Strong project management skills.
• Basic understanding of contract law.
• Exceptional communication and negotiation skills with the ability to build and maintain strong vendor relationships.
• Detail-oriented and organized with the ability to manage multiple vendors and contracts.
• Excellent analytical skills with the ability to access vendor performance and identify areas for improvement.
• Strong understanding of regulatory requirements related to vendor management.

Additional Comments:

River City Bank is an Affiniatitve Action and Equal Opportunity Employer with a commitment to diversity. Individuals seeking employment at River City Bank are considered without regards to ancestry, age, color, physical or mental disability, genetic information, gender, gender identity, gender expression, marital status, medical condition, national origin, race, religion, sex, sexual orientation, protected veteran/military status or any other consideration made unlawful by federal, state or local laws.

Note:

River City Bank does not sponsor applicants for work visas.

For CA residents please read the Notice at Collection - California before applying.