Job Purpose
The Assistant Vice President (AVP), IT Vendor Management is responsible for managing the bank's IT vendors, ensuring optimal performance, compliance, and value delivery. This role plays a critical part in the governance, negotiation, and lifecycle management of vendor contracts, aligning vendor capabilities with the bank's technology and business objectives.
Key Responsibilities- Vendor Strategy & Relationship Management
- Develop and execute vendor management strategies aligned with IT and business goals.
- Build and maintain strong relationships with key vendors and service providers.
- Act as the primary point of contact for vendor escalations and performance issues.
- Contract Negotiation & Management
- Overseing contract negotiations to ensure favorable terms, cost-effectiveness, and risk mitigation.
- Review and manage contractual obligations, SLAs, and KPIs.
- Ensure compliance with regulatory and internal procurement policies.
- Governance & Performance Monitoring
- Establish and maintain vendor governance frameworks, including regular performance reviews and audits.
- Monitor vendor performance against agreed SLAs and KPIs.
- Drive continuous improvement initiatives with vendors to enhance service delivery.
- Risk & Compliance
- Identify and manage risks associated with third-party engagements.
- Ensure vendors adhere to the bank's security, compliance, and data protection standards.
- Collaborate with Legal, Risk, and Compliance teams on vendor-related matters.
- Stakeholder Engagement
- Work closely with internal stakeholders including IT, Procurement, Legal, and Finance to align vendor strategies.
- Provide regular reporting and insights to senior management on vendor performance and value realization.
Qualifications & Experience
- Bachelor's degree in IT, Business Administration, or related field.
- Minimum 5 years of experience in IT vendor management or a similar role within the banking or financial services industry.
- Proven experience in contract negotiation, vendor governance, and performance management.
- Strong understanding of IT services, outsourcing models, and technology trends.
- Excellent communication, analytical, and stakeholder management skills.
- Familiarity with regulatory requirements and risk management practices in banking.
Preferred Certifications
- ITIL, PMP, or relevant vendor management certifications.
- Knowledge of Agile and Lean methodologies is an advantage.
