Vendor Relationship Manager

and performance measurement that align with organization policies and standards.

• Collaborate with business unit and risk SMEs during the drafting, negotiation, and execution of contracts with vendors to ensure terms are favorable and compliant with organizational policies.

• Conduct thorough reviews of contracts to mitigate risks and identify opportunities for improvement in terms and conditions.

• Establish and manage Vendor Management Plans and Vendor Scorecards in accordance with organizational policies and practices

• Monitor vendor performance through key performance indicators (KPIs) and service level agreements (SLAs), providing regular reports to senior management

• Facilitate vendor meetings to review performance metrics, resolve issues, and identify opportunities for innovation and improvement.

• Identify, assess, and monitor risks associated with third-party vendors, developing risk management strategies and mitigation plans

• Collaborate with cross-functional teams to ensure compliance with legal, regulatory, and internal policy requirements

• Work closely with internal stakeholders to understand business needs and ensure alignment between vendor services and organizational objectives

• Engage with procurement, legal, information security and compliance teams, as necessary, to ensure contracts align with regulatory requirements

• Drive continuous improvement initiatives within the Vendor Management Program to enhance efficiency, effectiveness, and vendor relationship management

• Stay current with industry trends and best practices in vendor management, third-party risk assessment, and contract negotiations.

• Analyze vendor utilization, goods and services provided and provide recommendations to higher level staff and/or leadership for contract modifications; provide recommendations for potential new vendor relationships based on analysis

• Perform other duties as assigned

Qualifications

• A minimum of 5 years of experience in vendor management, procurement, contract management, or third-party risk management

• Prior experience in building and/or contributing to Vendor and Third-Party Risk Management program artifacts

• Knowledge of applicable federal and state laws, rules and regulations, especially related to Financial Services industry and Human Resources domain

• Familiarity with Human Resources industry trends, products and services

• Experience collaborating across organizational boundaries and building partnerships across various functions

• Experience evaluating and examining policies, procedures, business documents, IT Security, and regulatory compliance controls

• Excellent communication and interpersonal skills, with the ability to build and maintain relationships across all levels of the organization

• Strong problem-solving skills and a strategic mindset

Desired Qualifications

• Familiarity with Navy Federal products, services, programs, policies and procedures

• Familiarity with Navy Federal operating systems: VenDoor (P2P, SharePoint, Outlook, Power BI/Tableau

• Bachelor's degree in Business Administration, Supply Chain Management, or a related field (Master's degree preferred)

Hours: Monday - Friday, 8:00AM - 4:30PM

Locations: 820 Follin Lane, Vienna, VA 22180 | 5550 Heritage Oaks Drive, Pensacola, FL 32526 | 141 Security Drive, Winchester, VA 22602

About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.

Our approach to careers is simple yet powerful: Make our mission your passion.

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• Ripplematch Recruiting Choice Award

• Yello and WayUp Top 100 Internship Programs

From Fortune . ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union.

Equal Employment Opportunity: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected Veteran.

Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.

Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position

Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.