Truist Vendor Advisor (Hybrid) in Wilmington, North Carolina
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Regular or Temporary:
Language Fluency: English (Required)
1st shift (United States of America)
Please review the following job description:
Oversight of vendor relationships within Truist Insurance Holdings. Serve as the primary focal point for assigned low, moderate and high risk vendor relationships within Truist Insurance Holdings. Serve as a liaison between internal business unit functions and external supporting organizations to ensure Truist Insurance Holdings is meeting its strategic objectives, as described in our approved initiatives. Serve as the subject matter expert to manage the relationship within the entity and vendor to improve risk, cost, quality, and ease of doing business across the entity. Collaborate with Truist Third Party Risk Management and Truist Sourcing & Supply Management to ensure all vendors' are in compliance with the Third Party Risk Management Policy.
This is a hybrid position
ESSENTIAL DUTIES AND RESPONSIBILITIES
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Manage low, moderate and high risk vendors utilized by the entity.
Identify and manage vendor risks per the Truist Third Party Risk Management Policy and guidelines.
Create, streamline and document Truist Insurance Holdings specific processes, compliance reports and standard operating procedures, as required, to support the Truist Third Party Risk Management Program.
Implement vendor performance management framework (e.g. scorecards, improvement plans).
Perform ongoing vendor monitoring such as Service Levels Tracking and issue remediation.
Work with the second line of defense (e.g. Operational Risk Management (ORM), Compliance to ensure corresponding risks are being managed and mitigated per second line expectations.
Coordinate vendor risk reviews across second line of defense, IT Risk management functions.
Monitor and track vendor remediation plans in accordance with vendor action plans or contractual obligations; Facilitate Risk Acceptance process as needed.
Develop and effectively execute on vendor contingency and termination/transition plans.
Lead and participate in Vendor Business Continuity planning and testing.
Serve as vendor escalation point for vendor issues and risks.
Participate in vendor onsite inspections.
Communicate overall relationship health and vendor performance to entity leaders and Truist Insurance Holdings Senior Leadership.
Facilitate sourcing and contract requests to Truist Sourcing & Supply Management on behalf of the entity.
Initiate and manage contract renewal and execution activities.
Assist with negotiations and decision making on contracts, Master Agreements, and/or Statements of Work.
Coordinate financial and business approval activities including business case development, tracking and governance. 18. Ensure contract compliance for documented terms and conditions.
Identify and implement cost optimization opportunities.
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Bachelor's degree in business or equivalent training in supply chain operations
Five years of experience in business functions or relevant experience in vendor management, procurement, project management, or equivalent
Strong understanding of business processes and integration of third party relationships
Ability to work under heavy workloads and meet critical deadlines
Strong analytical skills (statistics and forecast modeling)
Strong relationship management skills
Strong communication skills, both written and verbal; experience communicating frequently with executive management
Negotiation and consulting experience
Procurement and vendor management experience
Demonstrated proficiency in basic computer application, such as Microsoft Office software products
Ability to travel, occasionally overnight
- Master's degree in Business Administration or Supply Chain Management
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site (https://benefits.truist.com/)
. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
Truist supports a diverse workforce and is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Truist is a Drug Free Workplace.
EEO is the Law (https://www.eeoc.gov/sites/default/files/2022-10/EEOC_KnowYourRights_screen_reader_10_20.pdf)
Pay Transparency Nondiscrimination Provision (https://www.dol.gov/sites/dolgov/files/OFCCP/pdf/pay-transp_%20English_formattedESQA508c.pdf)