Vendor Management Risk Analyst

John Marshall Bank is looking for a Vendor Management Risk Analyst who will assist in the assessment and monitoring of risks associated with third-party vendors. This person will facilitate risk classification, the due diligence process and promote overall regulation compliance. Additionally, this person will provide support to vendor relationship owners, as needed.

Primary Responsibilities:

Vendor Management:

• Support contract owners in establishing and maintaining strong relationships with vendors.
• Evaluate vendor performance based on quality, price, delivery, and responsiveness.
• Assist contract owners in developing and implementing strategies for selecting and managing vendors to optimize cost-effectiveness and efficiency.
• Support contract owners in researching and negotiating favorable terms, pricing, and agreements with vendors.
• Monitor vendor activities and ensure compliance with contract terms, policies, and procedures.

Contract Management:

• Assist contract owners in negotiating and reviewing contracts.
• Maintain a database of all vendor contracts and related documentation.
• Ensure contracts are compliant with internal company policies.
• Track key contract dates (renewals, terminations, etc.) and take proactive action.
• Collaborate with finance, accounting and risk management teams to review terms and conditions for compliance and risk management.
• Ensure timely and accurate execution of contracts, including renewals and amendments.

Compliance and Risk Management:

• Ensure all vendor activities are aligned with regulatory, legal, and organizational requirements.
• Conduct vendor audits and performance evaluations to mitigate risks and identify areas of improvement.
• Develop and enforce policies and procedures for vendor selection, monitoring, and termination.
• Manage contract-related risks, ensuring liabilities are minimized.

Reporting and Analytics:

• Provide regular reports on vendor performance and contract status to senior management.
• Analyze vendor data to identify trends, risks, and opportunities for improvement.
• Maintain accurate records and documentation of all vendor interactions, negotiations, and contract activities.
• Collaboration and Coordination:
• Work closely with contract owners, finance, accounting, risk management, and other relevant departments to ensure smooth vendor operations.
• Communicate vendor performance issues and potential contract risks to appropriate stakeholders.

Required:

• Bachelor's degree
• Proven experience in vendor management, procurement, and contract administration.
• Strong negotiation and communication skills.
• Knowledge of vendor regulations, and industry best practices.
• Ability to manage multiple projects and prioritize tasks effectively.
• Proficiency in Microsoft Office Suite.

Preferred:

• Bachelor's degree in Business, Banking, Supply Chain Management or a related field
• Experience with N-Contracts Platform
• Attention to detail and a high level of organizational skills.
• Ability to build and maintain positive relationships with vendors and internal stakeholders.
• Strong analytical and problem-solving skills.

At this time, John Marshall Bank will not sponsor a new applicant for employment authorization for this position.

John Marshall Bank is an Equal Opportunity Employer