VP, Supplier Sourcing Manager, Risk Management

April 9

Forbright Bank

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A Bank for a Brighter Future Member FDIC - Equal Housing Lender

Personal & Business Banking • Consumer & Commercial Lending • Residential Mortgage Lending • Sustainable Finance • Healthcare Lending

201 - 500

Description

• Assist with the third party selection process as a service offered to the business in finding the best-fit vendor based on research and review of existing vendors • Enhance requirements and oversee competitive bid processes, including RFPs, RFIs, and RFQs • Lead internal business groups and teams through the vendor evaluation and selection process • Negotiate with new and existing suppliers on price, quality, and delivery terms regarding services and products • Review and negotiate contracts with terms and conditions to comply with industry standards and manage the company’s risks and obligations • Build relationships with existing and new vendors to optimize cost and value • Identify opportunities for consolidation or expansion through a review of vendors used by multiple business groups • Collaborate with the finance department for on-going supplier spend monitoring: Partner with the finance team to develop reporting to track contracted amounts against invoices • Manage controls around invoices vs contract status • Align on the categorization of vendors, tracking spending against targets by category • Execute operational components of contract management: Develop processes and procedures for accurate and complete contract inventory • Manage the process of contract renewals to ensure minimal contract requirements are met, value is maximized, and the cost is reviewed • Introduce sourcing analytics to offer insights into spending by category and the correlation between spend vs benefits/goals reached

Requirements

• Bachelor's Degree or equivalent education and experience required • 5+ years of proven work experience in a sourcing or procurement function required • Ability to negotiate, develop relationships, resolve conflicts with suppliers, and build strong partnerships • Strong project management skills • Mid- to-large bank experience • Working knowledge and comfort with third party banking regulations

Benefits

• Comprehensive health, dental, and vision plans • 4 weeks PTO • 401k + company match • Metro SmartTrip benefits ($50/mo) • Remote or hybrid work schedules for most positions • Bonuses for purchasing solar panels, electric vehicles, biking to work, etc. • Paid subscriptions to Veterans Compost, Imperfect Foods, and more! • Best Workplaces for Commuters 2023 & 2024 winner • The Washington Post Top Workplaces 2023 winner • American Banker Best Banks to Work For 2023 winner