About the Role
The Vendor Management Administrator (VMA) is responsible for managing the onboarding process of new vendor products/services assigned to them by the Vendor Program Manager that includes, but is not limited to: a) determining the inherent risk of a vendor product/service, b) identifying the associated controls, (c) facilitating the risk assessment of the controls, and d) applying the risk results of the controls to determine the product/service residual risk. In addition, the VMA will review existing vendor product/service risk assigned to them by the Vendor Program Manager periodically based on the degree of inherent risk.
The position will provide vendor oversight, including periodic risk reviews for evaluating vendor compliancy of products and services relative to their contractual obligation, providing advanced notice of contract expiration to the business unit, reviewing findings with business unit, obtaining risk acceptance and sign off by the appropriate levels of authority according to the degree of risk for both compliant and non-compliant vendors and business units. The VMA will understand regulatory guidelines for third party risk management and the bank's policy on third party risk management and apply them in the course of their work.
Role And Responsibilities
The VMA, in collaboration with the Vendor Program Manager, manages the day-to-day duties associated with the vendor management process. This includes but is not limited to:
Collaborate with multiple vendors and business units to obtain due diligence documents and facilitate / coordinate the risk review process with the bank's subject matter experts.
Identify critical issues and escalate to the Vendor Program Manager.
Provide technical and end-user support and training for the bank's vendor management program.
Manage the alerts and notifications sent to the Vendor Management mailbox and following up on reminders for outstanding items, tracking them to completion in the vendor management software.
Requirements
Qualifications And Skills
- 1+ years’ experience in third party risk management
- 1+ years’ experience reviewing contracts, understanding contract components, and identifying key terms.
- 1+ years working experience in Vendor Management preferred
- Knowledge of related IT controls and auditing practices
- Excellent interpersonal skills, including teamwork, facilitation, and negotiation
- Solid analytical and problem-solving skills combined with the ability to think globally
- Advanced proficiency in Microsoft Excel, Word, Outlook, and PowerPoint.
- Excellent leadership skills with the ability to develop and foster partnerships
Physical Requirements
- Will be completing repetitive tasks, including typing and numerical entries, and using a computer for extended periods of time.
- Must be able to lift 25 pounds at times.
About the Company
Fremont Bank is one of the oldest locally owned banks in the San Francisco Bay Area. It was founded in 1964 and is based in Fremont, California. We know that community banking makes a difference to our customers, our business partners, and our employees. We believe that each success in our community improves the quality of life for us all. That is why we’ve held to an unwavering commitment to providing the communities we serve with financial resources and building professional relationships second-to-none.
Fremont Bank was selected as the seventh “Best Workplace in the Bay Area” in the large company category in 2018. We were also honored by the San Francisco Business Times as one of the “Top 65 Corporate Philanthropists in the Greater Bay Area". The Bank has made it on the coveted list, which is based on total cash contributions paid by companies to Bay Area nonprofits, every year since it entered the survey in 2003.
For more information about our wide array of banking services please visit: www.fremontbank.com
For employment information, and job opportunities please visit: www.fremontbank.com/careers
Find Fremont Bank on Facebook at www.fb.com/FremontBank and Instagram at www.instagram.com/FremontBank