This position is part of CNB's Vendor Management Office and is responsible for managing vendor relationships across the vendor life cycle phases. This role will ensure all third parties are on-boarded, contracted, managed and terminated according to the third party risk management policy. Additionally, this role will have responsibility for designing and implementing data visualization and reporting capabilities for vendor management activities. This role will also maintain procedural documents and provide reporting for the team.
- An experienced, fully proficient professional with full understanding and in-depth knowledge of discipline or areas of specialization
- Resolves a wide range of issues in creative ways
- Works on problems of diverse scope where analysis of situations or data requires an evaluation of identifiable factors
- Solves complex problems, takes a new perspective on using existing solutions
Judgement and Decision Making
- Receives minimal instruction and guidance on day to day work and general instructions on new assignments
- Works independently
- Exercises judgment in selecting methods and techniques for obtaining solutions
WHAT WILL YOU DO?
- Manage vendors within the enterprise vendor portfolio; ensure proper governance of vendors
- Support the implementation of monitoring and tracking vendor service level agreements, contracts, and performance for vendors
- Establish good partnership with vendor risk owners and coordinate closely with the vendor risk assessment team to ensure proper engagement and governance is being followed during the onboarding, due diligence phase of vendor management, as well as all phases of the vendor life cycle
- Work closely with vendor risk owners to ensure required artifacts for vendors, such as vendor onboarding process, ongoing monitoring artifacts, vendor business reviews, vendor scorecards, etc. are completed
- Maintain proper information/documentation and records related to the Bank's vendors for both internal and external audits using OCC and FFIEC guidelines as a reference
- Assist with the development and communication of vendor management standards, processes, and procedures in alignment with VMO policy and goals
- Maintain and update policies, procedures and best practices for vendor management of vendor performance and associated risk
- Drive collaborative efforts with cross functional subject matter experts (businesses/stakeholders) such as Legal, Compliance, Risk Management, Info Sec, Procurement/Sourcing, BCP/DR, RBC to support vendor Management office and third party support services ensuring compliance with bank policy and regulatory compliance
- Facilitate service delivery meetings to ensure delivery against objectives are being met. Develop regular reports on contract milestones, execution and risk, and inform internal business partners, vendors and management of activities and progress through regular written and verbal communication.
- Support, track and report on vendor management milestones, activities, and all incoming requests for vendor related assistance
- Support monthly and quarterly vendor status reporting, key supplier metrics, key risk indicators, performance metrics and periodic updates to key business stakeholders
- Help lead in the development efforts to automate and prepare management analytics reporting including monthly, quarterly updates enterprise wide. Additionally help provide reporting for the Bank's Vendor Relationship Owners and delegates and vendor management related working groups, forums and committees
- Support resolution of vendor activities, inquiries, issues, incidents, service requests, and escalations, etc…
- Maintain vendor and contract data in systems
- Champion the enterprise Vendor Management and risk awareness purpose throughout the organization; train and advice colleagues on the vendor management processes in support of the CNB's Third Party Risk Management Policies and Procedures
- Experience working with large sets of data to analyze and develop reports; experience with data visualization and reporting tools such as Tableau and Alteryx
- Provide guidance to colleagues on the vendor management processes
- Support various adhoc projects supporting program enhancements, process improvements, and other functions
- Build, support, and implement a framework for monitoring and tracking vendor service level agreements, contracts, and performance for vendors
- Prepare Monthly Enterprise Vendor Management Service reporting (leveraging ServiceNow) - focusing on service levels, risks, issues, proactively identified opportunities and ideas for improvements
- All City National products, financial solutions and services are to be provided ethically and with integrity in a manner that is consistent with the client-first culture and values embodied in City National's PRIDE statement.
- Working knowledge and understanding of Risk Management, Governance and Vendor Management processes, techniques and systems
- Working knowledge and understanding of current business acumen
- Excellent customer services skills, and Strong knowledge and understanding of customer service and intrapersonal best practices
- Strong leadership skills
- Ability to forecast, Apply both strategic and critical thinking to help pro-actively solution and plan for the long run.
- Escalate vendor issues and support the resolution of issues
- Monitor vendor risk indicators including risks and incidents for escalation to management Second line Risk Management team and reporting
- Knowledge of third party and information risk management processes and methodologies
- Ability to work well in a time-sensitive environment and handle a variety of matters or projects simultaneously
- Ability to analyze diverse business functions and processes to identify key risks
- Preferred knowledge of and experience in designing and operating governance, frameworks and processes to comply with vendor management policies
- Knowledge in MS Office applications such as Word, Excel, Outlook, PowerPoint, MS Visio preferred
- Strong organizational and analytical skills
- Excellent oral and written communication skills; ability to communicate with all levels of management; experience performing both detailed and management-level documentation, including the ability to explain solutions in business terms, establish rapport and persuade others
- Excellent time management skills and be accustomed to working with deadlines
- Strong analytical skills, working with data and drawing conclusions; ability to aggregate information into meaningful solutions/summaries
- Ability to effectively respond to shifting priorities and assignments
- Preferred experience using service managements tools/systems to track and measure SLAs, preferably Service Now
- BA/BS Degree or equivalent combination of training and experience
- 4 - 6 years of relevant experience/ area of expertise
- 2 years of experience working in IT Vendor Management or working in IT
ADDITIONAL REQUIREMENTS/WORK EXPERIENCE
- Required basic knowledge of MS Word and Excel
- Preferred Industry recognized third party risk management or vendor management certification
- Preferred basic knowledge of Microsoft Office tools; specifically, Excel, PowerPoint and SharePoint
- Preferred Six Sigma certification
- Recommended two (2) years of focused experience in Vendor Governance, Risk Management, IT, Finance, QA, Audit, and/or equivalent business experience
- Excellent analytical, problem solving, and organizational skills required
- Excellent written and verbal communication skills
- Preferred Project Management Experience
- Preferred experience or training IT Management
- Experience working with technical teams and having familiarity of technical environments. Understanding what each area of IT is responsible for is key.
- Good understanding of technical licensing for both Hardware and software and the different options for consolidation or co-termination.
- Familiarity of technical vendors that provide Infrastructure and cloud services like Hewlett Packard, Microsoft Azure and Amazon Web Services.
- Familiarity of technical Data Center and Co-Location providers and the services that they offer.
- Good understanding of Business Continuity and Disaster Recovery.
- Familiarity of IT Information Security and how Vendor Management plays a role in Data Breaches
- Minimum of 4 years, preferred 6 years of vendor management, managing vendor contracts and service levels and monitoring vendor performance
- Demonstrated experience researching information, problem solving, and making solid business decisions
- Demonstrated experience reporting, analyzing, interpreting, and critical thinking
- Demonstrated experience producing accurate and detailed work on multiple projects under time pressure
- Demonstrated experience effectively managing relationships with internal and external partners
- Demonstrated experience working in a fast paced and changing environment
- Demonstrated experience with attention to detail, time management, written and oral communication, multi-tasking, and working in a team atmosphere adhering to tight deadlines
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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