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For Companies At a Glance
- Tasks: Manage vendor relationships, onboarding, offboarding, and contract negotiations.
- Company: Join an international bank in London, a leader in the financial sector.
- Benefits: Enjoy competitive pay, flexible working options, and professional development opportunities.
- Why this job: Be part of a dynamic 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 work on impactful projects and develop your career in banking.
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. Support in drafting, negotiating, and managing contracts with vendors and suppliers, ensuring favourable terms and compliance with regulatory standards. 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.
Interested? Apply in Vendor Management Outsourcing Providers Suppliers Relationships Contract Management.
Vendor Management Specialist - Outsourcing - Banking 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
✨Tip Number 1
Network with professionals in the banking and vendor management sectors. Attend industry events or webinars to connect with people who can provide insights into the role and potentially refer you to opportunities at our company.
✨Tip Number 2
Familiarise yourself with the latest trends and regulations in vendor management and outsourcing within the banking sector. This knowledge will not only help you stand out during interviews but also demonstrate your commitment to staying updated in the field.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed vendor relationships or contracts in the past. Highlighting your experience with onboarding, offboarding, and performance monitoring will show that you're well-equipped for this role.
✨Tip Number 4
Research our company’s values and recent projects related to vendor management. Tailoring your conversation to align with our goals will demonstrate your genuine interest in joining our team and your understanding of our business.
We think you need these skills to ace Vendor Management Specialist - Outsourcing - Banking
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in vendor management, contract management, and outsourcing. Use specific examples that demonstrate your ability to manage vendor relationships and compliance with regulatory standards.
Craft a Compelling Cover Letter: Write a cover letter that clearly outlines your motivation for applying to this role. Emphasise your skills in managing vendor relationships and your understanding of the banking sector's regulatory environment.
Highlight Relevant Skills: In your application, focus on key skills such as risk assessment, performance monitoring, and project management. Provide concrete examples of how you've successfully applied these skills in previous roles.
Showcase Analytical Expertise: Demonstrate your analytical skills by discussing how you've used data to optimise vendor relationships or identify cost-saving opportunities. This will show your potential employer that you can contribute to their strategic goals.
How to prepare for a job interview at Rothstein Recruitment
✨Know Your Vendors
Before the interview, research the vendors and suppliers the bank works with. Understanding their services and how they align with the bank's goals will show your commitment and preparedness.
✨Demonstrate Contract Management Skills
Be ready to discuss your experience with drafting, negotiating, and managing contracts. Prepare examples of how you've ensured compliance and favourable terms in previous roles.
✨Showcase Analytical Expertise
Highlight your ability to analyse vendor performance data. Be prepared to discuss how you've identified trends and made decisions that optimised vendor relationships in the past.
✨Emphasise Problem-Solving Abilities
Prepare to share specific examples of how you've addressed issues in vendor relationships. Discuss proactive measures you've implemented to enhance performance and prevent disruptions.
