Vendor Manager

Company Federal Reserve Bank of Richmond

• Develop, monitor, and manage relationships with vendors and National IT/FRS teams to leverage and engage vendors. Facilitate and participate in meetings and discussions between vendors and the appropriate FRS or customer resources.
• Measure vendor performance, including vendors' ability to define issues, respond and escalate appropriately, engage relevant executives when required, and solve issues efficiently. Ensure thorough account management by reviewing established quality metrics, validating vendor resource allocations are as defined and required, and ensuring vendors are providing the services and obligations in accordance with contracted terms outlined in their vendor agreement.
• Establish and implement quantifiable measures to monitor quality and on time delivery of vendor services, products, and deliverables, and maintain third-party vendor and service provider information.
• Facilitate bi-directional knowledge exchange between vendors and National IT/FRS parties by coordinating trainings and providing appropriate documentation.
• Develop and maintain a repository of vendor documentation, key resources, and partnership strategy.
• Actively promote and execute actions to support and advance third-party risk management practices.
• Provide vendor management support during problem or outage situations, including management of follow up activities through root cause analysis. Monitor and evaluate processes and work with vendors, National IT, and Federal Reserve sources to streamline effective crisis management and on-going support.
• Work with procurement and contract personnel to negotiate vendor agreement terms varying in size, scope, and type.
• Facilitate roadmap sessions and executive discussions with vendor and FRS teams to promote an understanding of vendor roadmaps and strategic direction.

• Bachelor's Degree or equivalent experience.
• 3+ years of relevant work experience; proven experience with vendor or project negotiation; experience in IT preferred.
• Thorough understanding of vendor management principles and best practices, project management methodologies, and a high degree of proficiency in diplomacy to ensure effective working relationships.
• Knowledge of vendor risk management practices.
• Knowledge of IT systems and service level data and management requirements.
• Excellent problem-solving, financial management and contract negotiation skills.
• Working knowledge of audit and control procedures to maintain proper vendor service level quality control.
• Demonstrated verbal and written communication skills, with the ability to coordinate vendor relationships, support service level agreements, and resolve complex contract issues affecting vendor management related projects.

• Great medical benefits
• Pension and 401(k) with employer match
• Paid time off
• Tuition reimbursement
• Employee resource networks
• Paid volunteer leave
• Flexible work options
• Onsite amenities that make working here fun!

• A requirement of this position is that the employee must be fully vaccinated against COVID-19; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.
• Candidates should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
• Sponsorship is not available for this role. The selected candidate will be subject to a government security investigation and must meet eligibility requirements for access to classified information. Eligibility for this specific position requires U.S. Citizenship.
• This Richmond, VA hiring range for the:
  • Vendor Manager- Experienced (Business Advisor- Experienced) is $84,100 - $105,100 annually.
  • Vendor Manager- Senior (Business Advisor- Senior) is $101,600 - $127,000 annually.
• The full Richmond, VA salary range for the:
  • Vendor Manager- Experienced (Business Advisor- Experienced) is $84,100 - $136,600 annually.
  • Vendor Manager- Senior (Business Advisor- Senior) is $101,600 - $165,600 annually.
• For candidates located outside of Richmond, VA, the salary range may be adjusted for your geographic location. Salary offered will be based on the job responsibilities and the individual's knowledge, skills, and experience as defined in the job qualifications/experience.
• Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply by November 5, 2021.