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- Pensacola, FL 32526
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Vendor Management Specialist I/II
Navy Federal Credit Union • Pensacola, FL
Posted 6 days ago
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Why You Will Love Being Part of the Navy Federal Team:
*Competitive compensation with opportunities for annual raises, promotions, and bonus potential
*Best-in-Class Benefits! (7% 401k match / Pension plan / Tuition reimbursement / Great insurance options)
*On-site amenities include fitness center, wellness center, cafeteria, etc. at Pensacola, FL; Vienna, VA and Winchester, VA campuses
*Consistently Awarded Top Workplace
*Nationally recognized training department by TRAINING Magazine
*An employee-focused, diverse, and service-oriented workplace environment
Manages relationships with specific vendors and serves as the organization's point of contact. Researches, analyzes and evaluates vendors and recommends new vendor relationships. Provides support to the organization for problems with vendor products and services.
1. Manages third party vendor relationships and ensures that vendors meet all Navy Federal and regulatory standards.
• Reviews and audits vendor documents to ensure compliance is in accordance with all relevant Investor guidelines/requirements
• Interprets vendor documents to determine acceptability by Navy Federal based on a good understanding of business unit needs and industry standards
• Interacts with internal and external customers, e.g. Navy Federal business units, Vendor Representatives, Industry Professionals, etc. to resolve pertinent issues
• Researches internal requirements and vendor coverage to determine sufficient representation, adding and/or vetting vendors as needed to meet business unit’s production level
2. Performs a detailed review, audit and tracking of vendor documentation.
• Reviews documentation to ensure compliance with Service Level Expectations
• Inspects relevant deliverables, budgets and financial statements/1120s, applicable license requirements, insurance, etc. to ensure vendor maintains Key Service Provider status
• Documents key milestones to ensure documentation is current, updating required documentation and vendor management database as needed
• Consults with internal and external sources to determine if vendor meets expected performance standards
• Maintains records of qualified vendors from whom to solicit bids for services within assigned area of responsibility
3. Serves as subject matter expert on Vendor Management.
• Serves as coach and mentor to the business unit by providing coaching and feedback to aid in the development of new skills and/or refinement of existing skills
• Provides resource and reference materials for production teams to aid in cross functional education
• Serves as a Vendor Management resource and subject matter expert in process or system enhancement projects
• Acts as liaison between Vendor Management team and other business units within Navy Federal
• Resolves contractual and interpretive differences among vendors and business unit by determining variances, discussing with the appropriate channels (management, vendor reps, business unit)
4. Performs other duties as required and/or appropriate.
• Identifies, gathers, and prepares data
• Evaluates submitted documents following industry and business unit standards
• Reviews vendor proposals for necessary documentation requirements
• Performs vendor reviews requiring good knowledge of vendor contractual obligations and the ability to use latitude and creativity to resolve issues
• Follows standard course of action applying strong vendor relationship knowledge but may vary from established policies, procedures, or guidelines
• Assembles and/or indexes relevant documents
• Monitors vendor management performance to ensure service level expectations are maintained
• Updates Vendor Management database; monitors and reviews vendor documents such as insurance, state licenses, sample settlement statements, etc.
• Resolves issues that are uncommon in the business unit
• Uses discretion to modify work practices/processes
• Monitors business unit work to ensure established procedures/guidelines are followed and problems identified
• Researches/clarifies/resolves escalated problems related to vendor performance
• Assists in the completion of monthly metrics reports for management
• Reviews contract terms and conditions, renewal/termination provisions and evaluates vendor performance to make and support recommendations
• Prepares requests for bids and solicits bids for assigned category(ies) of service
• Provides feedback/input (e.g. production/performance statistics) on colleague performance reviews
• Coaches and/or mentors colleagues; serves as supervisor in the incumbent’s absence
QUALIFICATIONS – KNOWLEDGE, SKILLS, AND ABILITIES:
• Familiar with business unit’s concepts, practices, and procedures
• Relies on experience and judgment to plan and accomplish goals
• Strong business unit experience to review and interpret vendor needs
• Good knowledge of federal and state law requirements as they pertain to primary business unit products
• Ability to work independently and as a team while exercising sound business judgment
• Strong oral, written and telephone communication skills
• Developed problem solving skills with good attention to detail and a high degree of accuracy
• Demonstrated ability to interpret and apply regulations, instructions and procedures
• Administrative or technical experience that demonstrates effective customer service skills
• Computer skills including familiarity with word processing and spreadsheets
• Bachelor's degree and/or previous experience in the field of vendor management or procurement
• Strong vendor management or procurement background
• Experience in quality control& auditing demonstrating strong knowledge of contractual standards and reporting metrics
• Highly analytical, able to think critically and take appropriate initiative/actions
• Strong problem solving skills, organizational skills and the ability to prioritize work assignments
• Demonstrated ability to review/analyze with significant attention to detail to resolve and determine complex vendor relationship decisions
• Strong knowledge in the use of word processing and spreadsheet software
• Knowledge of Navy Federal and federal/state policies, instructions and regulations
• Familiarity of NFCU operating systems: Unifi, LotusNotes, eClient, UAD, etc.
BANK SECRECY ACT:
Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
Monday - Friday 8:30AM-5:00PM
Equal Employment Opportunity
Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability