Greensboro, North Carolina

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Regular or Temporary:

Regular

Language Fluency:  English (Required)

Work Shift:

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.

1. Manage low, moderate and high risk vendors utilized by the entity.

2. Identify and manage vendor risks per the Truist Third Party Risk Management Policy and guidelines.

3. 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.

4. Implement vendor performance management framework (e.g. scorecards, improvement plans).

5. Perform ongoing vendor monitoring such as  Service Levels Tracking and issue remediation.

6. 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.

7. Coordinate vendor risk reviews across second line of defense, IT Risk management functions.

8. Monitor and track vendor remediation plans in accordance with vendor action plans or contractual obligations; Facilitate Risk Acceptance process as needed.

9. Develop and effectively execute on vendor contingency and termination/transition plans.

10. Lead and participate in Vendor Business Continuity planning and testing.

11. Serve as vendor escalation point for vendor issues and risks.

12. Participate in vendor onsite inspections.

13. Communicate overall relationship health and vendor performance to entity leaders and Truist Insurance Holdings Senior Leadership.

14. Facilitate sourcing and contract requests to Truist Sourcing & Supply Management on behalf of the entity.

15. Initiate and manage contract renewal and execution activities.

16. Assist with negotiations and decision making on contracts, Master Agreements, and/or Statements of Work.

17. Coordinate financial and business approval activities including business case development, tracking and governance. 18. Ensure contract compliance for documented terms and conditions.

19. Identify and implement cost optimization opportunities.

QUALIFICATIONS
Required Qualifications:
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.

1. Bachelor's degree in business or equivalent training in supply chain operations

2. Five years of experience in business functions or relevant experience in vendor management, procurement, project management, or equivalent

3. Strong understanding of business processes and integration of third party relationships

4. Ability to work under heavy workloads and meet critical deadlines

5. Strong analytical skills (statistics and forecast modeling)

6. Strong relationship management skills
7. Presentation skills
8. Strong communication skills, both written and verbal; experience communicating frequently with executive management
9. Negotiation and consulting experience
10. Procurement and vendor management experience
11. Demonstrated proficiency in basic computer application, such as Microsoft Office software products
12. Ability to travel, occasionally overnight

Preferred Qualifications:
1. Master's degree in Business Administration or Supply Chain Management

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.

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See Job Description

Greensboro, North Carolina

BB&T and SunTrust formed Truist with a shared purpose—to inspire and build better lives and communities. With our combined resources, collective passion, and commitment to innovation, we’re creating a better financial experience to help people and businesses achieve more. With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million households with leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. Truist Bank, Member FDIC.

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