Specialist, Vendor Management

Make banking a Fifth Third better

We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.

GENERAL FUNCTION: As first line of defense, this function provides holistic strategy for outsourcing activities and manages assigned vendor relationships for third party services that are utilized within a particular line of business or division. The role supports the achievement of Fifth Third Bank's objectives by addressing the full life-cycle of a vendor relationship.

Supports the management of vendor onboarding, measurement and recertification. Maintains reporting that validates vendor performance alignment with the stated guidelines and controls as outlined in contractual terms. Works in conjunction with impacted parties to resolve project or performance issues and assists to ensure solution requirements are met. The primary goal of this function is to adhere to and to ensure vendor governance so that Fifth Third Bank receives the expected value from the vendor engagement.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Plan:

• In partnership with the Vendor Relationship Manager, Vendor Risk Management (VRM), and other Risk disciplines, the role assists in developing/maintaining LOB or division-specific vendor policies.

Source:

• Support the development of monitoring plans for critical vendors, and review monitoring plans for all other vendors.

Manage:

• Gather, aggregate, and report on risk data to assist in developing solutions to analytical, implementation, and/or execution issues.

• Provide analytics for Internal Working Groups for critical vendors, periodic business reviews, quarterly business reviews, and monthly performance meetings for all other applicable vendors.

• Maintain scorecards for individual vendors, ensuring that Key Performance Indicators (KPIs) are in alignment with vendor contracts and LOB requirements.

• Document vendor correspondence, provide quality vendor feedback, respond to and resolve internal complaints regarding vendor services, and ensure safe and sound management of vendors.

• Identify and communicate issues and risks, escalating as necessary to Management.

• Investigate vendor issues and monitor action plans to ensure timeliness of resolution.

• Monitor and assist with execution of exit strategy and contingency plans for all vendors.

• Maintain log of vendor contacts, escalation lists, and historical scorecard performance and data.

• Administer vendor questionnaires, verify associated vendor documentation, track audit findings, areas of concern, and review best practices.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Bachelor's degree or equivalent experience required (related field preferred).

• 1- 3 years of related business experience required. Expertise in Sourcing/Supplier leadership and program management preferred.

• Professional verbal and written communication skills and the ability to communicate with discretion and understanding when confidentiality is needed.

• Must be analytical and possess ability to interpret and apply policies and regulations across a complex business.

• Build trusting strategic internal and external relationships and networks.

• Must be approachable, collaborative, and have the ability to influence others through interpersonal skills, thrive in a fast-paced dynamic environment, and be comfortable quickly shifting priorities on short notice.

• Working knowledge of Microsoft Office products required.

• Ability to work with minimal supervision.

#LI-EG1

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.