McCann Partners is supporting a financial institution in Chicago’s loop by onboarding an Assistant Director, Vendor Risk, and Relationship Management. Due to COVID-19, initially, the employee will work remotely; eventually, she/he will need to be onsite two days weekly in their Chicago, IL office location with proximity to both Ogilvie Transportation Center and Union Station.
The Assistant Director, Vendor Risk, and Relationship Management will be responsible for leading and managing a team of Strategic Sourcing and Vendor Management (“SSVM”) professionals to support the management of vendor risk and vendor relationships with internal and external business partners, organization’s operating departments, and managing vendor performance programs to strike an appropriate and sustainable balance between service quality levels and operating costs. Provide guidance, instruction, direction, and leadership to the team for the purpose of achieving a group of aligned results.
- Partner with Director, Strategic Sourcing and Accounting and leadership in establishing and driving the SSVM strategy for the organization.
- Manage vendor risk management quality control program for the organization.
- Ensure agreed-upon business objectives and service levels are met and are consistent with business expectations.
- Develop, promote, and maintain collaborative relationships with new and existing suppliers/service providers. Collaborate with suppliers and business owners to identify and exercise opportunities for more disciplined and systematic operations and continued performance improvement; balancing immediate, short- and long-term needs to achieve goals.
- Ensure that escalations and resolutions regarding vendor performance issues are appropriately understood, followed up on, and addressed in a timely manner.
- Remain current on supplier relationship management trends, especially performance management, and help to identify critical success factors aligning to the vendor services and support models for key strategic suppliers.
- Support the management of key strategic supplier relationships within business operations to enable innovation, cost containment, and support future requirements to ensure supplier relationship management procedures are followed.
- Assist with cost management, ensuring that sourcing targets for benefits are agreed to and consistently met or exceeded.
- Assist in the development, evaluation, and reporting of supplier performance tools relative to key performance indicators (KPIs) and standards.
- Ensure timely and complete vendor governance/oversight activities and reporting.
- Support communication and coordination of requests for proposal/quotes, bids, and contract negotiations with suppliers. Ensure that the SSVM team provides continuous communication, detailed instruction, and follow-up to support to the business team through vendor selection and onboarding.
- Provide guidance on, and ensure compliance with, sourcing and contracting policies and procedures as required by the business owner.
- Assist in leading supplier performance review meetings; managing supplier scorecards, contract compliance and the overall performance of service obligations.
- Oversee the processing and maintenance of purchase orders, contracts, and proposals for vendors.
- Proactively manage internal and external customer expectations.
- Assist in the development of a management reporting package of critical business vendor management metrics.
- Support periodic risk assessments with business owners.
- Assist in the development and management of a consistent vendor management processes with business owners, including development of checklists and standards to support the process.
- Establish strong relationships with staff, conduct coaching, promote career growth, manage performance, and participate in recruiting and other line supervision activities. Interact and collaborate with all levels of staff to include active participation and involvement in vendor management.
- Function as a key communication liaison between business stakeholders and the Manager, Strategic Sourcing. Communicate status and progress to upper-level management.
- Present vendor management information as needed to various management committees.
- Participate in any required SSVM discussions with the organization’s regulator.
- Bachelor’s degree
- Minimum 8 years of vendor management experience with an emphasis on procurement
Knowledge, Skills, Abilities, and Behaviors:
- Results-oriented with strong problem-solving skills and the ability to demonstrate strategic thinking
- Strong communication skills, written and verbal
- Strong organizational and analytical skills with the ability to multi-task
- Skilled manager with confirmed ability to motivate and develop a dynamic and diverse workforce
- High level of integrity, self-motivation, and ability to work effectively in a rapidly changing environment with changing priorities. Work well in a team environment
- Ability to influence others across the organization without authority
- Ability to deal with sensitive and confidential issues appropriately
- Experience managing or leading a team.
- Experience in the banking/financial services industry, and/or IT related concepts, a plus
- Experience with ServiceNow and/or Workday, a plus
- May perform other duties as assigned
Conditions of employment include the successful completion of required background screens, as well as verification of full Coronavirus (COVID-19) vaccination.
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