Overview
VENDOR RISK SPECIALIST II
WHAT IS THE OPPORTUNITY?
The Vendor Program Manager will be responsible for managing vendor relationships across the vendor life cycle phases. This role will be responsible for Vendor performance improvement methodologies that support world class Service Delivery Organization. The Vendor Program Manager will provide governance and oversight for the enterprise-wide third party management program. This role will ensure all third parties are on-boarded, contracted, managed and terminated according to the third party risk management policy. This role will also maintain procedural documents and provide reporting for the team.
Finance Division
This is a great opportunity to grow your career with a stable and expanding organization as a member of City National's Finance team. This group records, analyzes, reports and optimizes to maintain the bank's financial health, while following principles and legislation to ensure we're doing what's right.
What you will do

• Manage vendors within the vendor portfolio; ensure proper governance of vendors
• Support the implementation of monitoring and tracking vendor service level agreements, contracts, and performance for vendors
• Establish good partnership with vendor risk owners and coordinate closely with the vendor risk assessment team to ensure proper engagement and governance is being followed during the onboarding, due diligence phase of vendor management, as well as all phases of the vendor life cycle
• Work closely with vendor risk owners to ensure required artifacts for vendors, such as vendor onboarding process, ongoing monitoring artifacts, vendor business reviews, vendor scorecards, etc. are completed
• Play a key role in VMO brainstorming sessions cross-functionally to provide better efficiency through automation of existing and manual processes.
• Maintain proper information/documentation and records related to the Bank's vendors for both internal and external audits using OCC and FFIEC guidelines as a reference.
• Assist with the development and communication of vendor management standards, processes, and procedures in alignment with VMO policy and goals.
• Lead the development and communication of standards, processes, and procedures; Maintain and update policies, procedures and best practices for vendor management of vendor performance and associated risk
• Lead collaborative efforts with cross functional subject matter experts (businesses/stakeholders) such as Legal, Compliance, Risk Management, Info Sec, Procurement/Sourcing, BCP/DR, RBC to support vendor Management office and third party support services ensuring compliance with bank policy and regulatory compliance
• Facilitate service delivery meetings to ensure delivery against objectives are being met. Develop regular reports on contract milestones, execution and risk, and inform internal business partners, vendors and management of activities and progress through regular written and verbal communication.
• Support, track and report on vendor management milestones, activities, and all incoming requests for vendor related assistance
• Support monthly and quarterly vendor status reporting, key supplier metrics, key risk indicators, performance metrics and periodic updates to key business stakeholders
• Help lead in the development efforts to automate and prepare management analytics reporting including monthly, quarterly updates enterprise wide. Additionally help provide reporting for the Bank's Vendor Relationship Owners and delegates and vendor management related working groups, forums and committees.
• Support resolution of vendor activities, inquiries, issues, incidents, service requests, and escalations, etc...
• Maintain vendor and contract data in systems
• Champion the enterprise Vendor Management and risk awareness purpose throughout the organization; train and advise colleagues on the vendor management processes in support of the CNB's Third Party Risk Management Policies and Procedures
• Experience working with large sets of data to analyze and develop reports; experience with data visualization and reporting tools such as Tableau and Alteryx
• Provide guidance to colleagues on the vendor management processes
• Support various adhoc projects supporting program enhancements, process improvements, and other functions
• Build, support, and implement the development of vendor SLAs, as required; Document and track SLAs and SLOs for third party services; Assess contractual SLAs and determine adequacy; develop SLAs, as required
• Prepare Monthly Enterprise Vendor Management Service reporting (leveraging ServiceNow) - focusing on service levels, risks, issues, proactively identified opportunities and ideas for improvements
• Conduct targeted quality assurance reviews to ensure vendor and vendor relationship owner/s compliance with Bank policies, requirements and contractual provisions.
• Escalate vendor issues and support the resolution of issues
• Monitor vendor risk indicators including risks and incidents for escalation to management Second line Risk Management team and reporting

Must-Have*

• Bachelor's Degree or equivalent combination of training and experience
• Minimum of 6 years of vendor management, managing vendor contracts and service levels and monitoring vendor performance
• Minimum of 6 years working knowledge of third party and information risk management processes and methodologies

Skills and Knowledge

• Advanced senior professional with wide ranging experience uses professional concepts and to resolve complex issues in creative and effective ways
• Requires specialized depth and or breadth of expertise
• Working knowledge and understanding of Risk Management, Governance and Vendor Management processes, techniques and systems
• Working knowledge and understanding of current business acumen
• Excellent customer services skills, and Strong knowledge and understanding of customer service and intrapersonal best practices
• Proactive, takes action and anticipates opportunities.
• Strong leadership skills
• Ability to forecast, Apply both strategic and critical thinking to help pro-actively solution and plan for the long run.
• Knowledge of third party and information risk management processes and methodologies
• Ability to work well in a time-sensitive environment and handle a variety of matters or projects simultaneously
• Ability to analyze diverse business functions and processes to identify key risks
• Knowledge of and experience in designing and operating governance, frameworks and processes to comply with vendor management policies
• Knowledge in MS Office applications such as Word, Excel, Outlook, PowerPoint, MS Visio preferred
• Strong organizational and analytical skills
• Excellent oral and written communication skills; ability to communicate with all levels of management; experience performing both detailed and management-level documentation, including the ability to explain solutions in business terms,establish rapport and persuade others
• Excellent time management skills and be accustomed to working with deadlines
• Strong analytical skills, working with data and drawing conclusions; ability to aggregate information into meaningful solutions/summaries
• Ability to effectively respond to shifting priorities and assignments
• Preferred experience using service managements tools/systems to track and measure SLAs, preferably Service Now
• Experience working with technical teams and having familiarity of technical environments. Understanding what each area of IT is responsible for is key.
• Good understanding of technical licensing for both Hardware and software and the different options for consolidation or co-termination.
• Familiarity of technical vendors that provide Infrastructure and cloud services like Hewlett Packard, Microsoft Azure and Amazon Web Services.
• Familiarity of technical Data Center and Co-Location providers and the services that they offer.
• Good understanding of Business Continuity and Disaster Recovery.
• Familiarity of IT Information Security and how Vendor Management plays a role in Data Breaches
• Required basic knowledge of MS Word and Excel
• Preferred Industry recognized third party risk management or vendor management certification
• Preferred Intermediate knowledge of Microsoft Office tools; specifically, Excel, PowerPoint and SharePoint
• Preferred Six Sigma certification
• Recommended two (4) years of focused experience in Vendor Governance, Risk Management, IT, Finance, QA, Audit, and/or equivalent business experience
• Excellent analytical, problem solving, and organizational skills required
• Excellent written and verbal communication skills
• Keep up to date with relevant regulatory guidance, industry practices and Bank policies by attending outside forums or staying connected with peer groups industry-wide.
• Preferred Project Management Experience

Compensation
Starting base salary: $92,114 - $156,880 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks .
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.