Enterprise Vendor Mgmt Performance Analyst Job Listing at Valley Bank in Morristown, NJ (Job ID 24-621)

Description

Responsibilities include, but are not limited to:

• Monitor and report on vendor performance to contract (e.g., service level agreement (SLA) attainment or deliverable schedule adherence), proactively identifying areas for correction or enhancement of value-add (such as where a vendor continuously meets service levels).
• Coordinate with business partners and Vendor Management Office (VMO) staff to aggregate vendor contract performance data and, as requested, collaborate and follow-through with business partners in obtaining contractual remedies, developing a remediation plan with the vendor, or developing a vendor exit strategy.
• On an annual basis, monitor and report on vendor due diligence, including certificates of insurance, securitization (e.g., performance bonds), conflicts, financial viability (based on input from VMO staff), operational stability, IT security and data privacy, and disaster recovery and business continuity capabilities. Identify areas of risk and deficiencies for correction and
  collaborate and follow-through with business partners and vendors for resolution.
• Develop and maintain a program to measure customer satisfaction with vendors (e.g., internal surveys). Coordinate with business areas on deficiencies / possible improvements and assist in working with vendors on corrective action programs or in implementing value-add items.
• Identify and track vendor issue escalations and resolutions. Participate with business partners in resolving escalations.
• Conduct and / or participate in account reviews with strategic and other selected vendors to ensure business relationships are fostered and maintained. Formulate and implement strategies to improve customer / vendor relationships with strategic and other selected vendors. Determine opportunities where such vendors can improve performance and / or lower cost.
• In consultation with business partners and VMO staff, develop annual objectives for selected vendors with the goals of reducing costs, improving performance, and driving efficiencies.
• Review vendor assignment or work suspension / termination protocols developed by business partners, providing input to improve or strengthen the protocols. As requested, participate with business partners in the development of such protocols.
• Conduct SLA reviews and ensure that liquidated damages have been correctly calculated.
• Assist, as requested, with the negotiation of any scope changes to contracts.
• Serve as a point of escalation to resolve contract or vendor performance issues and serve as a liaison between the business and Legal to come to agreement on any legal action to be taken.
• Develop reporting to identify areas of opportunity and objectives for efficiency or productivity gains such as vendor consolidation.
• Participate with business partners in offboarding selected vendors and conducting contract close-out reviews to ensure that the vendor relationship is appropriately terminated.
• With input from VMO management, develop standard and ad hoc reports for the Senior Management Team, Executive Leadership Team, and Board of Governors to support compliance validation and operational oversight.
• Provide training, as appropriate, to business partners on VMO policies, standards, processes, and procedures.
• Design and maintain documented policies, standards, processes, and procedures necessary to accomplish the functions of the position.