We are currently seeking a Senior Contracts Manager in Third Party Risk Management Department (TPRM).
TPRM establishes the bank-wide program guidelines and policies on third party risk management and supports all business units on sourcing and contracting related activities in order to minimize risk and maximize value. The Senior Contracts Manager serves as a Subject Matter Expert (SME) on sourcing and third party contracts and is accountable for the related deliverables and targets.
- Leads the execution and continuous improvement of sourcing and contracting processes to support the Bank's strategic goals and initiatives.
- Advises as Subject Matter Expert on sourcing and contract activities, with the support from other SMEs and business stakeholders to remediate/reduce contract risks and generate savings.
- Collaborates with business units, assists and/or leads vendor selection and competitive bidding processes, including analyzing proposals, reviewing corresponding business cases (including financial reports), and leveraging business experiences and expertise in contracting to help business units to accurately assimilate key financial aspects in evaluating outcomes.
- Manages contract workflow from inception through closure by leveraging templates and vendor management system per the Bank policies and requirements, including maintaining and monitoring sourcing and contract records and contract compliance and managing vendor exits, etc.
- Ensures all terms and conditions of agreements are appropriate and contractual constructs are fit for purpose and mitigate risk exposures.
- Drafts legal language and capture complex business requirements in writing as needed, and manages day to day deliverables relating to sourcing projects, contract review and negotiation of complex MSAs, MLSSA, ASP/SaaS/PaaS, SOWs, SLAs, and facility contracts.
- Deploys excellent negotiation skills to negotiate mutually beneficial compromises, with the goal of maximizing contract value and reducing contract risks for the Bank.
- Facilitates timely problem resolution and escalation of contractual issues to minimize the impact of service disruptions on the organization during contract review.
- Responds to business stakeholder inquires, concerns, complaints and assist in resolving elevated and more complex provider service issues.
- Works with business units to resolve inquires, concerns, complaints or issues related to third party contracts, assists in interpreting contracts and works on resolutions as needed.
- Responsible for contract improvement projects identifying contract gaps in existing critical contracts and working on the relevant remediation effort.
- Supports improvement initiatives both at enterprise level and department level for efficiency by deploying the best practices in sourcing and contracting, procure to pay and category management.
- Assists in development or updating of the RFP and contract templates, job aids, and process documentation.
- Assists in implementing category strategy and tracking saving and improvement lists.
- Routinely shares knowledge with team members to support the continuous growth and development of all team members, particularly as it relates to contract terms and changes in the marketplace.
- Trains others in the Bank on TPRM policies, sourcing and contracting related best practices.
- Manages other projects and ah-hoc duties as assigned.
- Must have 8 - 12 years of vendor management, contract negotiations or similar vendor relationship management/sourcing experience, including five years of experience drafting and negotiating third party contracts.
- Must have experience working in Banking/Financial or technology types of contracts (buyer side especially preferred).
- Must have experience with competitive bidding (RFI, RFP, RFQ), vendor selection, and vendor risk assessment process.
Knowledge, Skills and Abilities
- Superior problem solving, decision-making and negotiating skills.
- Thorough, detail oriented and demonstrated analytical skills.
- Solid track record of identifying and capturing sustainable savings.
- Proven ability to develop strong working relationships and networks both within and outside the organization with all levels of stakeholders including senior leaders and peers.
- Excellent organizational skills with ability to prioritize workload in high volume, fast paced environment.
- Flexible but disciplined and able to work unsupervised on own initiative while recognizing when to escalate issues to management.
- Effectively use of personal influence skills rather than direct authority to persuade others and to gain consensus.
- Strong written and verbal communication skills and experience with formal presentations.
- Able to use PC software and multiple vendor and contract management programs.
- JD or MBA preferred.
- Undergraduate degree in Supply Chain, Business, Finance or equivalent experience.
- Legal/Paralegal credentials, CSP, PMP or Contract Management Certification.