Vendor Management Specialist

Title: Vendor Management Specialist Location: Remote

Reports to: Chief Compliance Officer

Description

Vendor Management is responsible for overseeing the full lifecycle of third-party relationships to ensure compliance with regulatory requirements, compliance policies, and risk management standards. Reporting directly to the Chief Compliance Officer, this role supports the organization in identifying, assessing, monitoring, and mitigating risks associated with vendors, service providers, and strategic partners.

Job Duties

• Manage and conduct the vendor risk assessment, vetting/due diligence, ongoing approval /profile maintenance, including contract management, as well as the vendor exclusionary list to support compliance with the company’s Vendor Management Program (“VMP”).
• Serve as the primary point of contact for initial vendor vetting, periodic reviews, and overall vendor profile maintenance.
• Review and assess documentation to complete vendor review in accordance with regulatory compliance and the company’s VMP.
• Setup new vendors in accordance with the company's VMP through a formalized process, ensure ongoing compliance through evaluating and reviewing vendor's policies and procedures and other required documentation.
• Manage Vendor Change Request oversight and system administration (change of coverage, status, terminations etc.)
• Manage the vendor periodic reviews and annual contract obligations.
• Update internal system of record with most up to date records upon receipt.
• Be the first point of contact for vendor approval/periodic reviews and provide updates and on-going communication by running status reports and/or communicating with vendors through various means to follow up on required compliance items.
• Work closely with applicable department(s)/responsible parties on the vendor approval/periodic review process and ongoing compliance monitoring
• Provide consistent communication to applicable department(s)/responsible parties regarding vendor’s status.
• Responsible for escalating any identified risks, material change in business operations, or privacy issues with any potential or approved vendor.
• Escalate matters to leadership timely if unable to resolve issues.
• Work closely with Marketing Compliance to ensure all expense reimbursements are for vendors properly vetted and approved.
• Push to achieve the overall goals of the company to include leveraging technology used for vendor management.
• Proactively look for ways to create efficiencies in the VMP while maintaining compliance with regulatory guidelines and company policy
• Proactively look for ways to make the VMP process efficient for responsible parties involved.
• Maintain internal compliance with regulatory guidelines
• Monitor and work closely with the Chief Compliance Officer regarding annual reviews for potential updates to VMP policy and/or procedures
• Assist with questions or requests for information from internal audit or any agency, investor, federal/state regulatory body, or other third-party regarding vendor management.
• Monitor and track documents needed from third-party vendors to ensure compliance.
• Contact third-party vendors by various means for required documents as needed.
• Conduct annual company Branch reviews in accordance with company policy.
• Perform other duties and special projects as assigned by management.

Qualifications

• Strong attention to detail to maintain our quality and compliance standards related to our vendor management functions.
• Demonstrated ability to communicate at all levels
• Clear and Concise communication skills are a must
• Strong ability to analyze, read, and write
• Previous experience in mortgage compliance
• Previous experience in vendor management preferred
• Demonstrated ability to excel in a high-impact position with fast-paced, deadline driven environment is necessary
• Must embrace change and have a positive attitude
• Demonstrated proficiency in PC skills, typing, and Microsoft Office applications such as Word, Excel and Outlook
• High School diploma or equivalent, Bachelor’s degree preferred