Assistant Vice President, IT Vendor Management

Job Purpose:

The Assistant Vice President (AVP), IT Vendor Management is responsible for managing the bank's  IT vendors, ensuring optimal performance, compliance, and value delivery. This role plays a critical part in the governance, negotiation, and lifecycle management of vendor contracts, aligning vendor capabilities with the bank’s technology and business objectives.

Key Responsibilities:

• Vendor Strategy & Relationship Management

  • Develop and execute vendor management strategies aligned with IT and business goals.
  • Build and maintain strong relationships with key vendors and service providers.
  • Act as the primary point of contact for vendor escalations and performance issues.

• Contract Negotiation & Management

  • Overseing contract negotiations to ensure favorable terms, cost-effectiveness, and risk mitigation.
  • Review and manage contractual obligations, SLAs, and KPIs.
  • Ensure compliance with regulatory and internal procurement policies.

• Governance & Performance Monitoring

  • Establish and maintain vendor governance frameworks, including regular performance reviews and audits.
  • Monitor vendor performance against agreed SLAs and KPIs.
  • Drive continuous improvement initiatives with vendors to enhance service delivery.

• Risk & Compliance

  • Identify and manage risks associated with third-party engagements.
  • Ensure vendors adhere to the bank’s security, compliance, and data protection standards.
  • Collaborate with Legal, Risk, and Compliance teams on vendor-related matters.

• Stakeholder Engagement

  • Work closely with internal stakeholders including IT, Procurement, Legal, and Finance to align vendor strategies.
  • Provide regular reporting and insights to senior management on vendor performance and value realization.

Qualifications & Experience:

• Bachelor’s degree in IT, Business Administration, or related field. 
• Minimum 5 years of experience in IT vendor management or a similar role within the banking or financial services industry.
• Proven experience in contract negotiation, vendor governance, and performance management.
• Strong understanding of IT services, outsourcing models, and technology trends.
• Excellent communication, analytical, and stakeholder management skills.
• Familiarity with regulatory requirements and risk management practices in banking.

Preferred Certifications:

• ITIL, PMP, or relevant vendor management certifications.
• Knowledge of Agile and Lean methodologies is an advantage.