Vendor Manager

Job Overview:

Our operations rely on a robust IT infrastructure supported by our IT vendors. We are seeking a skilled Vendor Manager that will build and manage a comprehensive vendor management framework. The Vendor Manager will be responsible for developing and managing LHV Bank's vendor management framework and associated policies. This includes taking ownership of the Request for Proposal (RFP) , annual review and contract review processes.

The ideal candidate will have strong experience in IT vendor management, contract negotiation, and risk management. In this role, you will establish streamlined processes to collect, consolidate, and communicate vendor agreements, ensuring clarity and transparency across the board. Your responsibilities will include establishing performance metrics to balance quality, timeliness of delivery, and cost-effectiveness, driving strategic improvements through vendor contract integration and cost optimization initiatives

Please note this is a hybrid role but  will require you to come into the office at least 2-3 days a week in either Manchester or London.

Key Responsibilities:

• Working with a contract owner through negotiation to enforcement of contractual obligations and risk management.
• Establish processes to collect, consolidate and communicate vendor agreements.
• Manage the selection, evaluation, and onboarding processes for IT vendors.
• Negotiate contracts and service level agreements (SLAs) to ensure favorable terms and conditions.
• Monitor vendor performance to ensure compliance with SLAs and other contractual obligations.
• Establish performance metrics balancing quality, timeliness of delivery, and cost-effectiveness.
• Drive strategic improvements through vendor contract integration and cost optimization.
• Establish and measure performance levels from vendor onboarding throughout the entire relationship.
• Work with stakeholders within the group to ensure vendor roadmaps align with company strategy.
• Conduct regular vendor performance reviews and audits.
• Identify and mitigate risks associated with vendor relationships.
• Manage vendor-related issues and escalations to resolution.
• Collaborate with internal teams to align vendor management activities with the Bank's strategic objectives.
• Stay updated on industry trends and best practices in vendor management.

Skills & Experience:

• Good experience in vendor management or a related field (e.g., asset management, IT outsource management, sourcing, and procurement).
• A strong grasp of procurement processes and the intricacies of supply chain.
• Evidenced experience in sourcing and category strategies.
• Adept at negotiating contracts with a fundamental understanding of contract terms.
• Excellent analytical, written, and influencing skills.
• Excellent project management skills.
• Confident, credible, persuasive, and a collaborative team-player.
• Ability to work independently using initiative.
• Strong analytical skills, technology, and system knowledge.
• Strong ability to challenge, influence, and direct internal stakeholders.
• Ability to work within tight deadlines and changing priorities.