Product Vendor Management- Assistant Vice President

1 week ago

Bengaluru, Karnataka, India State Street Full time US$ 1,00,000 - US$ 1,50,000 per year

Job Description – Assistant Vice President Vendor Lifecycle Management

Who we are looking for

As a member of the Product Enablement Team supporting the Asset Servicing Product Organization, the incumbent will support Third Party Vendor lifecycle management activities. This includes but is not limited to vendor onboarding, continuous monitoring, risk management and offboarding related activities. The incumbent will partner with Product managers and collaborate with multiple internal stakeholders including  Third Party Risk Management (TPRM), Procurement, Legal, Information Security Officer, Accounts Payable and other internal governance boards.

The ideal candidate should have strong analytical and interpersonal skills to effectively communicate with diverse stakeholders, including senior executives and external parties/vendor executives as required.

What you will be responsible for

As an Assistant Vice President on the Vendor Lifecycle Team:

  • Support and perform the role of Engagement Manager carrying the responsibility of a Vendor relationship across its lifespan
  • Support Product Engagement Managers and BU Executive Sponsors as a liaison between TPRM and Product while ensuring compliance with TPRM program requirements 
  • Focus on the accuracy of vendor book of record (such as findings and engagements trackers, Inherent Risk Questionnaire(IRQ) Calendar, etc.)
  • Maintains accurate, up to date information in Engagement Profile and IR
  • Work with vendor and Architecture Review Board (ARB) to complete review for new and existing vendors
  • Assist in obtaining vendor responses related to Due Diligence Questionnaire(DDQ) and open remediations for TPRM findings 
  • Work with Legal, procurement and TPRM to formulate exit plan as required
  • Monitor and discuss Service Level Agreements(SLAs) and Key Performance Indicators (KPIs) agreed with vendor in contract through periodic performance monitoring
  • Provide ownership and resolution of TPRM findings for vendors, such as preliminary finding negotiation, timeframe to remediate, risk acceptance and ongoing monitoring activities
  • Liaise with Procurement and Legal for contract negotiations, signing and extension
  • Offboard vendor once contract is over and discontinue billing and release accruals
  • Raise Purchase Orders(POs), extending and closing as per contract requirements
  • Monitor and track vendor budgets and invoices
  • Develop reporting/ presentations for Stakeholders and BU Leads as required

What we value

These skills will help you succeed in this role

  • Strong verbal and written communication skills
  • Strong Microsoft Office skills including developing compelling PowerPoint presentations and complex data analysis using Excel
  • Critical thinking, problem solving, and decision making skills with the ability to execute independently
  • Highly motivated individual with the ability to multi-task and operate in a fast paced, deadline-oriented environment
  • Demonstrated ability to work with cross functional teams
  • Understanding of fund accounting, custody, transfer agency and digital asset services a plus

Education & Preferred Qualifications

  • 10+ years in financial services, either in front office, back office and/or Project management
  • Experience in managing third party vendor relationships or a passion to learn the process
  • Excellent presentation, communications, collaboration and influencing skills
  • Ability to build relationships with internal and external partners and stakeholders

Preferred location: Bangalore

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