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For Companies At a Glance
- Tasks: Manage vendor relationships, onboarding, offboarding, and performance monitoring.
- Company: Join an international bank in London, known for its dynamic work environment.
- Benefits: Enjoy hybrid work options, competitive salary, and professional development opportunities.
- Why this job: Be part of a team that drives strategic vendor management and enhances business efficiency.
- Qualifications: Strong contract management skills and experience in vendor relations are essential.
- Other info: Opportunity to contribute to business continuity planning and compliance in the financial sector.
The predicted salary is between 48000 - 72000 £ per year.
Excellent opportunity opens for a Senior Outsourcing & Vendor Officer with strong Contract Management to join an International Bank's London office. This role will manage the onboarding & offboarding of Vendors/Suppliers and maintain relationships with them.
Key Responsibilities & Accountabilities
- Vendor/Supplier Relations: Support in overseeing and managing external vendor/supplier relationships to ensure effective collaboration and communication. Facilitate the onboarding and offboarding processes for vendors and suppliers, ensuring smooth transitions and adherence to policies. Conduct thorough due diligence and risk assessments for all vendors and suppliers to ensure compliance with enterprise-wide standards. Implement and monitor ongoing vendor risk management practices to mitigate potential risks associated with outsourcing. Track and oversee renewal and expiry dates of all contractual agreements, ensuring timely renewals and adherence to contractual obligations.
- Performance Monitoring and Reporting: Coordinate, track, measure, and report vendor/supplier performance against contractual obligations and costs. Analyse data to identify trends, track performance, and make informed decisions to optimise vendor relationships. Identify commercial sourcing opportunities and support the tendering process to ensure quality of service and value for money. Continuously review and assess the best routes to market to meet business needs and drive cost efficiencies. Ensure compliance with relevant regulations and standards governing outsourcing and vendor management in the financial sector. Stay updated on regulatory changes and implement necessary adjustments to vendor management practices. Utilize analytical expertise to identify savings opportunities and deliver measurable cost savings.
- Strategic Alignment and Problem Solving: Align vendor management strategies with the bank’s overall business goals and objectives, ensuring strategic coherence. Collaborate with internal stakeholders to integrate vendor management practices into broader organizational strategies. Address and resolve issues that arise in vendor relationships, ensuring smooth operations and minimal disruptions. Implement proactive measures to prevent potential issues and enhance vendor performance.
- Project Management: Support projects related to vendor onboarding, offboarding, and performance monitoring, ensuring timely and efficient execution. Apply project management methodologies to streamline processes and improve overall efficiency.
- Business Continuity: Assist in developing and maintaining a corporate-wide Business Continuity Plan (BCP) program, policies, and framework documents. Support the line manager in aligning BCP planning, initiatives, and goals with bank’s goals and infrastructure capabilities.
Vendor Management Specialist - Outsourcing - Banking | London, UK | Hybrid employer: Rothstein Recruitment
Contact Detail:
Rothstein Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Vendor Management Specialist - Outsourcing - Banking | London, UK | Hybrid
✨Tip Number 1
Familiarise yourself with the latest trends in vendor management and outsourcing within the banking sector. Understanding the specific challenges and regulations that banks face will help you demonstrate your knowledge during interviews.
✨Tip Number 2
Network with professionals in the banking and vendor management fields. Attend industry events or join relevant online forums to connect with others who can provide insights or even refer you to opportunities at StudySmarter.
✨Tip Number 3
Prepare to discuss your experience with contract management and risk assessments in detail. Be ready to share specific examples of how you've successfully managed vendor relationships and mitigated risks in previous roles.
✨Tip Number 4
Showcase your analytical skills by being prepared to discuss how you've used data to improve vendor performance or identify cost-saving opportunities. This will highlight your ability to contribute to the bank's strategic goals.
We think you need these skills to ace Vendor Management Specialist - Outsourcing - Banking | London, UK | Hybrid
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in vendor management, contract management, and any specific skills mentioned in the job description. Use keywords from the job posting to ensure your application stands out.
Craft a Compelling Cover Letter: Write a cover letter that addresses your motivation for applying to this role specifically. Mention how your previous experiences align with the responsibilities outlined, such as managing vendor relationships and conducting risk assessments.
Showcase Analytical Skills: In your application, provide examples of how you've used analytical skills to track performance or identify cost-saving opportunities in past roles. This will demonstrate your ability to meet the expectations of the position.
Highlight Project Management Experience: If you have experience in project management, be sure to include it in your application. Discuss any relevant projects you've managed, particularly those related to vendor onboarding or performance monitoring, to show your capability in this area.
How to prepare for a job interview at Rothstein Recruitment
✨Understand Vendor Management Fundamentals
Make sure you have a solid grasp of vendor management principles, especially in the banking sector. Be prepared to discuss your experience with onboarding and offboarding vendors, as well as how you've maintained relationships in previous roles.
✨Showcase Your Analytical Skills
Since the role involves performance monitoring and reporting, be ready to demonstrate your analytical abilities. Bring examples of how you've used data to track vendor performance and make informed decisions that led to cost savings or improved service quality.
✨Familiarise Yourself with Compliance Standards
Given the importance of compliance in this role, brush up on relevant regulations governing outsourcing and vendor management in the financial sector. Be prepared to discuss how you've ensured compliance in past positions and how you stay updated on regulatory changes.
✨Prepare for Problem-Solving Scenarios
Expect questions that assess your problem-solving skills, particularly in managing vendor relationships. Think of specific instances where you've successfully resolved issues or implemented proactive measures to enhance vendor performance.
