Redwood Credit Union is a not-for-profit financial institution that believes in people over profits. Our mission is to passionately serve the best interests of our Members, team members, and communities. Sticking to that vision has made us one of the most loved financial partners in the many communities we serve. In fact, RCU is the 8th largest credit union in California-and growing. Due to this growth, we recently completed construction on our new, 8-acre campus in Napa and are ready to welcome more than 500 valued team members!
Since 1950, Redwood Credit Union has been helping people reach their financial goals and dreams with a focus on helping others. That people-first approach holds true for our employees, too. Our work environment is built on service and trust. It's all possible with a leadership team committed to hiring talented people and helping them develop their careers.
If this sounds like a place you'd like to be, we're eager to meet you!
Redwood Credit Union is looking for a Vendor Contract Manager who will be responsible for the operations of Redwood Credit Union's Vendor Management Program to facilitate strategic sourcing, mitigate the risks presented by third parties, and optimize Redwood Credit Union's use of third parties. Ensure the Credit Union has the support, assistance, and information needed to manage third-party risks to meet key business objectives.
Essential Functions
Vendor Sourcing
•Stay informed on market trends, industry best practices, and regulatory changes through ongoing market analysis.
•Work with internal stakeholders to understand their requirements and provide strategic sourcing support.
•Lead the third-party selection process, including the following: RFP development and scoring, comparisons, pricing, gathering, and performing due diligence reviews, contract approval, and analyzing cost of ownership, ROI and general third-party risks.
•Develop and execute sourcing strategies aligned with business goals, focusing on expense optimization, efficiency, and risk mitigation.
•Analyze vendor costs, identifying areas for reduction, and implement cost-effective strategies without compromising quality.
•Identify and assess potential risky outsourced services, implementing mitigation strategies to manage third-party risks.
Contract Management
•Review and analyze vendor contracts to ensure there are terms designed to manage RCU risks, ensure service and support consistent to Redwood Credit Union objectives, and optimize expenses.
•Lead contract negotiations to secure optimal terms for Redwood Credit Union.
•Monitor and contract renewals and develop termination and renewal recommended designed to support Credit Union objectives.
•Ensure compliance with relevant laws, regulations, and Credit Union policies, upholding ethical standards in all sourcing activities.
Vendor Management
•Develop, implement, and sustain a vendor management vision and direction aligned with business drivers, strategies, service and operating standards, and risk profile.
•Create and manage a vendor management program, policies, and procedures in accordance with all applicable laws, regulations, and Credit Union business needs.
•Create and manage communication strategies and training for roles and responsibilities required for overseeing and managing vendor relationships.
•Oversee and monitor the effectiveness of the program.
•Continuously identify and implement opportunities for improvements in collaboration with senior leadership.
•Interface with Credit Union senior leadership and regulatory representatives regarding program adherence, emerging risks, roadmap, and efficiency initiatives; serve as a key representative for vendor program during exams and audits.
Department Management
•Establish goals, work plans and workflow to ensure quality of work for the department.
•Ensure confidentiality to safeguard sensitive memos, files, and reports.
Minimum Qualifications: Knowledge, Skills and Abilities

• Experience with contract language, review, and negotiation.
• Thorough knowledge of vendor management, strategic sourcing, or procurement management.
• Skilled in developing and implementing strategic sourcing initiatives that result in cost savings, efficiency improvements, and risk mitigation.
• Ability to manage third party contracts to ensure optimal terms and conditions.
• Thorough knowledge of market trends, industry best practices, and regulatory requirements, with a track record of effective market analysis.
• Working knowledge of financial institution operations and regulations pertaining to management of third parties.
• Skill in cost management, including the ability to analyze contracts' total cost of ownership and return on investment.
• Skill in risk management, including the identification and mitigation of potential third-party risks.
• Ability to collaborate with cross-functional teams, including finance, legal, and operations, to align sourcing strategies with overall business objectives.
• Ability to develop and manage key performance indicators (KPIs) to measure the success of sourcing strategies.
• Thorough knowledge of modern managerial principles, practices, and techniques.
• Excellent communication and negotiation skills, with the ability to influence and collaborate at all levels of the organization.
• Ability to communicate effectively both verbally and in writing.
• Ability to establish and maintain effective working relationships with a diverse group of people.
• Ability to travel 5% of the time.

Licenses and Certifications

• Must have a valid California driver's license.
• Paralegal Certificate is beneficial, but not required.

The ideal candidate has a combination of education and experience equivalent to a bachelor's degree in business, pre-law concentration or closely related field, plus a minimum of eight years' experience in vendor management or contract administration.
Compensation: Base starting range: $134,000 to $177,000 annually, commensurate with experience.
Our base salary starting range is based on scope and responsibilities of the position, candidate's work experience, education/training, key skills, and internal peer equity. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.
Redwood Credit Union offers a robust benefits package to our eligible employees including:
•Competitive medical, dental, and vision insurance, mental health offerings
•Employee performance incentive plan
•Salary Advancement- Merit increase based on performance
•401(k) program with employer match
•Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!
RCU Discounts and Perks-
- RCU employees are eligible for a .75% discount off RCU standard collateral auto loans
- RCU employees are eligible for a 1% discount on all recreational or boat loan products
- 2% discount off Visas and LOC Loans through RCU
- 0% interest on garment, fitness, or home office equipment loan of up to $500
- 100% financing for employee purchased homes!
Why work for Redwood Credit Union?
•Local financial institution, providing unparalleled service since 1950
•Recognized by Newsweek as one of "America's Best Credit Unions 2024"
•Top 5 Healthiest Credit Union in the USA, rated by Glatt Consulting
•Voted Best Places to Work in the North Bay 18 years in a row
•World-class employee engagement scores
•Rated Superior in Service by more than 90% of Members, surveyed by SF Gate
•Recognized by Forbes as one of "America's Best Small Employers 2023"
Internal Team Members
If you are a current Team Member, please apply through the internal careers page located in RCUNET.
We are an Equal Opportunity Employer