Assistant Director, Vendor Risk and Relationship Management

Company: The Federal Home Loan Bank of Chicago
Location: Chicago
Posted on: May 16, 2022

Job Description:

Join the FHLBC team!

At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.

• Medical, dental and vision insurance
• Retirement program (401k and Pension)
• Generous PTO plan
• 11 paid holidays per year
• Hybrid working model (effective February 22, 2022)
• Casual dress codeThe 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, FHLB Chicago 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.Duties:
  • Partner with Director, Strategic Sourcing and Accounting and Bank leadership in establishing and driving the SSVM strategy for the Bank.
  • Manage vendor risk management quality control program for the Bank.
  • 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 ultimately 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 and 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/FHLBs, 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.
  • Act 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 Bankwide management committees.
  • Participate in any required SSVM discussions with the Bank's regulator.Requirements:
    • Bachelor's degree
    • Minimum 8 years of vendor management experience with an emphasis on procurementKnowledge, Skills, Abilities and Behaviors:
      • Results-oriented with strong problem solving skills and 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 Banking industry, and/or IT related concepts, a plus
      • Experience with ServiceNow and/or Workday, a plus
      • May perform other duties as assignedFHLBank Chicago Maintains a Safe Work Environment With A Mandatory Vaccination Policy For All Employees.We are committed to providing a safe work environment for all our employees. The FHLBank Chicago requires all employees, except those who may require accommodations under federal or state civil rights laws, to be fully vaccinated. #LI-Hybrid

Keywords: The Federal Home Loan Bank of Chicago, Chicago , Assistant Director, Vendor Risk and Relationship Management, Executive , Chicago, Illinois