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Central Pacific Bank · 1 month ago

Risk Analyst - Vendor Management

HONOLULU, HI, US

Full-time

Onsite

Entry, Mid, Senior Level

$44K/yr - $71K/yr

3+ years exp

Central Pacific Bank is seeking a Risk Analyst - Vendor Management to support the execution and maintenance of the Bank's Vendor Management Program. The role involves conducting due diligence, ensuring compliance, and providing guidance to junior team members and product managers in vendor management activities.

BankingFinancial Services

Responsibilities

Ensures compliance with the requirements of the Vendor Management Program

Works closely with Product Managers to communicate the requirements of the Program, providing appropriate training, tools, and guidance

Collaborates with Product Managers in the completion of Due Diligence Review Forms, Risk Assessments, and on-going monitoring of vendor services

Follows-up with Product Managers and Subject Matter Experts (SMEs) for the timely completion of all types of reviews of the Bank’s potential and existing vendors

Collaborates with Product Managers for collecting current/updated due diligence documents (e.g., SOC, COI, etc.) from vendors

Manages day-to-day responsibilities associated with Venminder, Dun & Bradstreet, and other VM-related systems, to include:

Manages users in the Venminder system to ensure users are current and access levels are appropriate

Collaborates with Product Managers to ensure the information on the Venminder systems are accurate and current and that due diligence and other program documents are filed and linked for future access

Adds and maintains vendors in the Dun & Bradstreet system for monitoring and reporting purposes

Participates in Vendor Management related web meetings and trainings. Uses information learned from these meetings to enhance the Bank’s Program

Ensures timely and accurate input of vendor information (new vendors, changes to vendor information, ACH information, etc.) to the Bank’s accounts payable system in accordance with current procedures

Works with Product Managers to ensure timely completion of requirements for IT SOX vendors with a material impact on the Bank’s financial reporting

Conducts review of Bank’s Directors and Officers for any payments associated with related parties

Keeps abreast of relevant regulatory changes and updates the Program to ensure compliance with regulatory requirements

Identifies and implements improvements and efficiencies in the Vendor Management Program’s processes, policies, and procedures

Performs and completes the responsibilities of the VMP and serves as a backup to the Manager

Creates the status update and overview report of the VMP identifying significant vendor issues or concerns

Participates in Audits and Exams related to Vendor Management by helping to provide complete supporting material responses and remediation activities when applicable

Participates in training and coaching of junior level Risk Analysts in their role with the VMP

Trains Product Managers and SMEs on the VM policy, VMP manual requirements and VM systems

Organizes and leads meetings with Product Managers, Subject Matter Experts and other stakeholders for onboarding vendors and additional vendor reviews

Reviews vendor contracts through the entire life cycle for familiarity with items such as terms and conditions, renewals, terminations and notice requirements, etc

Monitors agreements in the Program to ensure accurate and current information exists for effective contract management

Documents out-of-cycle third-party alerts, impacts to the Bank, and mitigations performed by the Bank

Performs quality assurance checks on all reviews to ensure compliance with the requirements of the VMP

Contributes to a review and enhancement of existing VM procedures, implementing and training of new procedures, and monitors successful adoption of new procedures

Creates and/or maintains VM reports provided to Bank management such as missing, expired and overdue contracts. Communicates action requests and updates in a timely manner

Contributes to vendor risk assessments including but not limited to reviewing the vendor for the appropriate number of resources, necessary qualifications, resource oversight, insurance coverage, business experience, history, verifying vendor’s responses, vendor’s performance, the use of fourth parties, vendor’s strategies and practices, and philosophy alignment

Ensures compliance with the requirements of the VMP

Manages day-to-day responsibilities associated with Venminder, Dun & Bradstreet, and other VM-related systems

Ensure timely and accurate input of vendor information (new vendors, changes to vendor information, ACH information, etc.) to the Bank’s accounts payable system in accordance with current procedures

Works with Product Managers to ensure timely completion of requirements for IT SOX vendors with a material impact on the Bank’s financial reporting

Conducts review of Bank’s Directors and Officers for any payments associated with related parties

Qualification

Vendor Management CertificationBusiness/Financial ExperienceContract ManagementRisk AssessmentFinancial ReportingEffective CommunicationActive ListeningTeam LeadershipProblem Solving

Required

High School Diploma or GED equivalency required

3+ years of Business/Financial experience required (vendor relations, contract management or procurement management preferred). A relevant Bachelor's degree can be substituted for 2 years of experience

4+ years of Business/Financial experience required (vendor relations, contract management or procurement management preferred). A relevant Bachelor's degree can be substituted for 2 years of experience

5+ years of Business/Financial experience required (vendor relations, contract management or procurement management preferred). A relevant Bachelor's degree can be substituted for 2 years of experience

5+ years of reviewing and assessing financial reports/statements, identifying and investigating financial risks or other relevant work required. A relevant Bachelor's degree can be substituted for 2 years of experience