Vendor Management Officer

OVERVIEW
The Vendor Management Officer is responsible for overseeing key strategic third-party vendor and business partner relationships of the Bank throughout their life cycle thereby ensuring that the Bank maintains an effective Vendor Management Program in compliance with all applicable laws, rules and regulations. In addition, responsible for the development, communication, education and maintenance of the Bank's Vendor Management process. Prepares analyses and evaluations to ensure compliance with bank policies and regulations. Evaluates, recommends and implements changes to Vendor Management procedures throughout the bank.

ESSENTIAL FUNCTIONS
Vendor Management
* Provides support and guidance to the Bank's risk management compliance efforts; assists regulatory agencies and/or auditors inquiries; performs risk assessments and ongoing due diligence measures; reviews and writes related policies and procedures; makes recommendations to Operation Risk Manager when and where appropriate; creates reports for the Board of Directors detailing the Bank's vendor management risk related compliance.
* Manages key strategic third-party vendor and business partner relationships of the Bank throughout their life cycle thereby ensuring that the Bank maintains an effective Vendor Management Program in compliance with all applicable laws, rules and regulations; ensures the program is scalable to support vendors managed by other Bank management personnel.
* Maintains and understands the complete breadth of professional services and related risks provided by vendors, business partners, and current support services for relevant business unit.
* Assists Bank management personnel in evaluating and supporting business cases for new products or services or the renewal and/or improvement of existing products or services; assists in the search for appropriate and qualified vendors; assists business units with preparing request for proposals (RFPs); leads efforts of rationalization and optimization; conducts supplier research and provides information to stakeholders; performs cost benefit and risk analysis recommendations.
* Partners with key Bank personnel and others to ensure that financial, performance, risk, and compliance requirements are being met; remediates any gaps or deficiencies related to third-party service provider's compliance management system or ability to comply with applicable laws, rules and regulations.
* Works with procurement, information security, audit, risk, compliance, legal, and finance management personnel to address liability, financial and operational risk that tie to related issues.
* Ensures Bank policies, procedures and processes are updated to reflect changes in law or regulations; recommends changes to policies, procedures and processes to minimize risk.
* Assists all areas of the Bank to coordinate inter and intra-departmental activities; resolves inquiries or issues relating to vendor management functions; participates in various internal committees assigned by Operational Risk Manager.
* Performs basic contract review and upload contracts to Vendor Management tracking application based on bank standards.
* Coordinates with the business units on contract negotiations.
* Performance invoice audits regarding payments and contract terms.
* Develop annual bankwide, contract owner, SME, and vendor administration training modules.

Operations/Risk Management
* Supports and directs assigned complex Operational Risk functions including ensuring data integrity, compliance requirements and reporting needs.
* In conjunction with Director of Risk Management, develops and maintains standards for team activities to ensure compliance with regulatory agencies, Bank policy, audits, and investors.
* Maintains accurate statistical records of assigned team's activity and relevant information.
* Reviews and recommend new methods and procedures to make daily operations in the assigned work group more efficient and effective.
* Serves as subject matter expert to test and implement new products, systems and procedures.
* Coordinates the distribution of external/internal policy and procedures.
* Provides support in problem resolution relative to policies, procedures, compliance, technical and operational issues, as well as business and legal document interpretation.
* Actively attends Bank training/meetings, external Webinar/seminars, and promotes professional relationships with all areas of the Bank.
* Perform compliance and risk management duties as required or assigned.

Process Improvement/Special Projects
* Assists with the development and implementation of new risk operation systems and upgrades in assigned area of responsibility.
* Analyzes current operation and plans for future needs for assigned team.
* Tracks information on production levels for monthly management reporting; analyze information to make recommendations to manage growth and improve effectiveness.
* Compiles and/or responds to miscellaneous management and compliance reports.
* Ensures proper documentation of procedures are current for training purposes; assists in the development of Business Continuity process and testing.
* As assigned by Director of Risk Management, participates in, or coordinates projects designed to enhance efficiencies, introduce new products or services or implementation of new software or procedures.
* Proactively recommends process, service, or technology improvements that will result in cost reduction, improved productivity, and service performance.
* Promotes professional relationships within all areas of the Bank

Problem Solving/Research
* Uses good judgment, experience, and job knowledge to assist staff in resolving complex daily problems affecting workflow and goal achievement.
* Works with Senior Leadership, peers and other Business units on testing, implementing regulation/procedure changes or enhancements to ensure quality service.
* Tracks and reports outstanding issues and communicates results to end-user.
* Assists in coordinating with outside departments to solve technical problems.

KNOWLEDGE/SKILLS/EXPERIENCE REQUIRED
* Preferred bachelor's degree in business administration, risk management, MIS, Finance or related field or an equivalent combination of education and experience.
* Advanced knowledge of vendor management process and third-party risk.
* Demonstrated organizational and analytical skills, strategic thinking and ability to work collaboratively and independently.
* Ability to perform or distribute tasks as needed or required to ensure department objectives are met.
* Demonstrated ability to train and mentor staff.
* Strong system and process analysis skills of bank products, services and systems.
* Strong customer service skills and oral/written communication skills.
* Expert knowledge of Bank's systems as applicable.
* Strong knowledge of Bank, Federal and State policies, regulations and requirements as applicable.
* Proficient PC skills to navigate Bank software, including Microsoft Suite and other related applications.
* Ability to prioritize work projects to meet deadlines as well organized work habits.
* Hours need to be flexible to accommodate a variety of shifts,
* Regular, reliable attendance is required.

Compensation: $74,806 - $112,209 Annually

The compensation range represents the low and high end of the base compensation range for this position located in Spokane, WA. Actual compensation will vary and may be above or below the range based on various factors including but not limited to location, experience, and performance. This position is also eligible to participate in an applicable annual bonus.

What Our Culture Can Offer You:

Our benefit philosophy is to provide you with a comprehensive package to secure your overall wellness and help you become and remain a fulfilled and productive employee. Our benefits include Health, Financial, Retirement and Work/Life Benefits. We are proud to share an overview of our benefits HERE as part of your total compensation.

Washington Trust Bank celebrates diversity in the workplace and actively recruits talent to help reflect the unique communities where we live and work. We are proud to be an equal opportunity employer and prohibit discrimination or harassment based on race, religion, sex, gender identity, sexual orientation, national origin, age, pregnancy, disability, genetic information and any other protected characteristics outlined by state, federal and local laws. We believe strength comes from the diverse backgrounds and experiences of our team, and we are dedicated to fostering a supportive and inclusive work environment.