What are the responsibilities and job description for the Vendor Management Specialist position at Merchants Bank of Indiana?
Description
The Vendor Management Specialist is responsible for the ongoing management of the organization’s vendor relationships. This role engages in ongoing risk management of vendors, its analysis, and reporting on those to the Vendor Management Advisor. This position will work closely with Vendor Management Advisor in coordinating all the ongoing and any new vendor relationships.
Expected Outcomes: A successful Vendor Management Specialist will be a part of all the ongoing monitoring of vendors which will then minimize vendor-rated risk and operate with confidence in services rendered for fees paid. The incumbent’s success will mean that Vendor Management Program has evolved managing all its administrative activities.
After one year as a Vendor Management Specialist, you will be able to do the following confidently and independently...
- Manage the annual risk assessment process for critical vendors, including the collection of all due diligence and user entity control documentation.
- Conduct business reviews for critical vendors on a regular basis, enabling respective relationship managers to better manage vendor performance.
- Ensure vendor risk exposures are accurately measured and reported, escalating issues to the relevant internal partner to develop an appropriate remediation plan.
- Communicate vendor responsibilities and findings of vendor reviews to the Vendor Management Advisor.
- Help develop and be a part of evolving Vendor Management Program for the Bank.
- Work toward the standardization of vendor management processes that achieve compliance standards and enable practical, efficient business function.
- Be a part of deploying & managing the Vendor Management Tool at the Bank.
Requirements
What we are looking for...
- Bachelor’s degree in information technology, Computer Science, Business Administration or related field.
- Minimum three years Vendor and/or Account Management, Procurement, or related roles experience required.
- Effective oral/written communication and interpersonal skills required.
- Proficient with Microsoft Office Suite (Excel, Word, PowerPoint, Outlook, Teams, SharePoint) required.
- Experience with vendor management software and tools is an added advantage.
Our Benefits: Health, Vision, Dental, 401K, ESOP, 100% Tuition Assistance, 4 weeks paid time off, plus a few more
About Merchants
Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.
Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.