Director - Vendor Management - BFSI

Key Responsibilities:

General:

- Responsible for managing and developing the overall vendor relationship by proactively influencing such areas as value, performance, risk, compliance and cost.

- Implements the vendor management and control governance framework, including implementing the VRM minimum standards.

- Is the key point of contact on all matters related to the vendor.

- Develops and maintains vendor engagement plans based on business and product needs, vendor market dynamics and changes in technology or business process.

- Is responsible for exit strategy, risks and issues documentation.

- Is responsible for the commercial agenda and the benefits to be driven from the vendor.

Vendor facing:

- Builds relationships with key vendor executives and participates in strategic level forums.

- Chairs vendor governance forums and ensures secretariat is properly conducted.

- Owns and manages the General Framework Agreement (GFA).

- Has decision power to approve or reject commercial changes.

- Oversees vendor performance / action plans across all contracts.

- Ensures that the vendor's strategy is aligned to the company strategy.

- Acts as the first level of escalation for relationship issue resolution.

- Drives benchmarking and continuous improvement initiatives.

- Pushes workload to vendor wherever possible.

Business facing:

- Updates the Executive Sponsor and Responsible Officers on vendor risks and issues.

- Supports sourcing and contract managers on vendor negotiation.

- Manages contract managers and other contributors as a virtual team.

- Monitors internal business function customer satisfaction.

- Communicates vendor engagement strategy to the business functions.

- Reviews with Finance the vendor financial performance.