Vendor Management Specialist

This position is part of the Procurement/Vendor Management team and reports to the Sr. Procurement Consultant. The primary responsibilities will focus on implementing controls and compliance activities, day-to-day scheduled processes, new vendor onboarding, and other key initiatives.

Key Responsibilities

Third-Party Risk Management:

• Work closely with the Sr. Procurement Consultant and ISM team to ensure awareness of the Third-Party Risk Management program.
• Onboard third-party engagements, including performing/facilitating/documenting all efforts and results in the company system of record.
• Manage the Third-Party Risk Management intake form.
• Manage Third-Party Risk Management reporting and ensure all communications are sent on a timely basis.
• Ensure that all documentation is properly documented in the Third-Party Management system.
• Recognize the relevance of risk trends, issues, and potential risk exposure, and recommend actions to address/remediate.
• Collaborate with stakeholders in resolving issues discovered during risk assessment or ongoing management of the TPRM relationship.
• Build cooperation and trust between departments, third parties, and other groups.
• Demonstrate general knowledge of the laws and regulations governing vendor management.
• Leverage third-party software to obtain vendor detail for company usage consideration.
• Provide timely responses to inquiries.
• Ensure that risk is managed throughout the third-party life cycle (planning, due diligence, contract transition, ongoing monitoring, and exit).

Procurement:

• Basic understanding of contract management.
• Organize and maintain naming conventions of contracts.
• Read and analyze vendor contracts, including contractual terms that present risk and liability.
• Demonstrate an understanding of the RFx process.
• Communicate vendor business risks in simplified, understandable terms to various parties.
• Provide timely responses to inquiries.
• Establish a business partner relationship with Vendor Managers.
• Coordinate and communicate daily with functional business owners and external vendors.
• Report and track metrics to achieve goals, demonstrating knowledge of spend analytics. Pull reports from various systems and create dashboard reporting.
• Collect and process data, providing managers with all necessary company management data and information.

Qualifications

• Experience in Third-Party Risk Management.
• Understanding of vendor contracts.
• Vendor management or procurement experience.
• Strong written and verbal communication skills.
• Proficiency in Microsoft Office Products, including Word and Excel.
• Excellent reporting skills and proficiency in Excel.
• Critical thinking, problem-solving, and analytical skills.
• Ability to analyze invoices to ensure accuracy of delivered goods.
• Capability to gather data both manually and from systems.
• Ability to analyze current processes and procedures, and partner with appropriate team members on recommendations.
• Attention to detail.
• Ability to document key decisions in system tools and update internal working documents.
• Multi-tasking and prioritizing skills.
• Teamwork and conflict resolution skills.
• Adaptability and flexibility.
• Self-starter with a proven track record of execution and results.
• Ability to plan, schedule, and coordinate work, maintaining high levels of confidentiality and professionalism.
• Ability to complete tasks in an organized manner to meet deadlines.
• Proven ability to work individually, with a team, or cross-functionally.

Essential Duties

• Develop, manage, and maintain relationships with internal team members and vendors in Canada and the United States.
• Ensure on-time execution of projects through close cooperation with vendor contacts, internal stakeholders, and the procurement team.
• Ensure daily operations of procurement run smoothly and efficiently by following policies and procedures.
• Coordinate vendor contracts and new vendor setup documentation.
• Update and maintain CRM with vendor information.
• Prepare and produce reports tracking vendor spend.
• Exhibit strong communication and negotiation skills, and the ability to work effectively and independently.
• Perform other duties as assigned.

Qualifications (Education and Experience)

• Excellent written and verbal communication skills.
• Negotiating and networking experience is a plus.
• Ability to manage multiple priorities in a fast-paced environment.

Skills and Capabilities (Knowledge, Skills, Abilities)

• Proficiency in MS Excel (advanced).
• Strong data analysis and analytical skills.
• Accuracy in required recordkeeping.
• Strong ethical judgment and decision-making skills.

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