Contract and Vendor Specialist

Job Details
Job Location
Hamburg - Lexington, KY
Position Type
Full Time
Education Level
High School
Salary Range
$20.00 - $21.28 Hourly
Job Shift
Day
Job Category
Admin - Clerical
Description
UKFCU is an equal employment opportunity employer and is committed to providing employment opportunities to minorities, females, veterans, and disabled individuals. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or status as a protected veteran. UKFCU invites you to review the current "EEO Is the Law" poster as part of the application process. A link to the most current posters is here. Please also see the 2015 Supplemental EEO Poster here.
Applications are only accepted through our online application system. However, if you need assistance with any part of the application process or are unable to apply online because of a medical condition or disability and need an accommodation, please contact recruiting@ukfcu.org to let us know the nature of your request. Please note, UKFCU accepts only employment applications that are complete and received by the Office of Human Resources by the specified deadline for each opening.
This position allows for an optional hybrid work arrangement which includes a combination of both in-office and remote work arrangements. (Maximum of two days remote, three days in-office). To be eligible for the program, employees must complete a minimum of 6 months of continuous, regular employment, be in good standing, and submit a formal hybrid work application prior to being eligible for hybrid work, pending supervisor approval. Work schedules will be established by the employee's supervisor according to business needs. Working locations and schedules may be altered at management discretion.
Title: Contract and Vendor Specialist
Department: Risk Management
Reports to: Compliance and Risk Manager
FLSA: Non-Exempt
Job Grade: 7
Job Purpose: Provides support to members and the University of Kentucky Federal Credit Union by maintaining accurate records on all vendor contracts (new, existing, and terminated), including due diligence throughout the life of a vendor, contract reviews, oversight of the risk assessment process, analysis of vendor trends, vendor management monitoring and training, audit, complaints, and reporting.
Essential Job Results:

• Appropriate due diligence in third-party research and relationship management.
• Appropriate due diligence in the identification of possible fourth parties.
• Nondisclosure agreements regarding the institution's systems and data.

JOB SPECIFIC RESULTS

• Execution of tasks necessary for a risk-based vendor management program encompassing written policies and procedures, formal monitoring practices with periodic reporting.
• Annual training for all existing employees and employee vendor management orientation training for new employees.
• Periodic auditing of vendors for due diligence adequacy and addressing vendor complaints.
• Provide guidance and training to UKFCU employees regarding the policies and procedures to follow in consideration and contracting for a vendors product or service, including the bid process.
• Ensure compliance with the Purchasing Policy by aiding Contract Owners in the solicitation of the necessary bids during the procurement of goods and services (i.e., the Due Diligence Package).
• Collaborate with Contract Owners and Vendor Owners regarding the collection, creation, and execution of contract terms such as cost of the contract, suitability of vendors, background data on products and services, and communication of concerns identified within the due diligence process.
• Maintain all vendor-related information within UKFCUs vendor software platform.
• Monitor pre-award and post-award status of all contracts.
• Identification of potential software program duplicates with reporting to the Compliance and Risk Manager.
• Monitor the status of contracts through the vendor management software tools with notification to Contract Owners and Vendor Owners of any significant changes in contract terms no less than 60 days prior to effective date of change and performs basic analyses on contract terms to determine total cost for the life of the contract.
• Troubleshoot potential vendor issues.
• Updates vendor management software in a timely and effective manner regarding all new due diligence, contract terms, and updates.
• Review and analyze current and proposed agreements for conformity to company policies.
• Collaborate with Vendor Owners on the termination of active vendor contracts, ensuring compliance with contract terms and timing for contract termination and creation of notification letters.
• Present information and analysis of new and existing vendors along with vendors being archived, composes written summary reports for the Compliance and Risk Manager, and drafts updated contract provisions and supporting documents when necessary.
• Annually gathers data on vendors regarding supply sources and analyzes prices, discount rates, delivery dates, transportation charges, previous performance, commitments, and indications of financial responsibility and provides recommendations of the most advantageous offer to be done on an annual basis.
• Serve as the subject matter expert and work with the Learning and Development Team to develop a formal Vendor Management training program for Contract Owners, Vendor Owners, and Collaborators.
• Ensure privacy of member information within the Vendor Management process for third and fourth parties.
• Performs other job-related duties, as needed.

GENERAL STAFF RESULTS

1. Maintains member and employee confidence and protects operations by keeping information confidential and sharing on a business-related, as-needed basis only.
2. Complies with UKFCU policies and procedures by enforcing and adhering to internal UKFCU procedures and Board-established policies.
3. Engages in problem resolution by clarifying complaints; researching and determining the root cause of the issues/complaint; selecting and explaining the best solution to solve the complaint; expediting correction or adjustment; following up to ensure timely and appropriate resolutions; and informing the senior management of problems and solutions.
4. Complies with federal, state and local regulations and legal requirements by enforcing and adhering to requirements.
5. Complies with federal regulatory guidelines on third-party oversight.
6. Maintains professional and technical knowledge by maintaining an awareness of competitors rates and terms, industry trends and technology; attending staff meetings; identifying opportunities to attend seminars that enhance skills and maintain knowledge of new products that could assist in improving operational effectiveness; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; and participating in professional societies.
7. Contributes to a team effort by accomplishing corporate and individual goals and other related results as needed.

KEY COMPETENCIES

• Professionalism in all communications, internal and external.
• Commitment to the Credit Union movement and philosophy.
• Integrity in all actions.
• Ability to identify the needs of UKFCU and provide services to meet those needs in regard to vendor management due diligence and ongoing monitoring.
• Accountability to established metrics and performance goals.
• Demonstrate the following key leadership attributes: Collaboration and Teamwork, Professional Responsibility, Planning for the Future, Development of the Team, Courage and Respect.

Qualifications
MINIMUM REQUIREMENTS

• High school diploma or equivalent.
• Two to five years of third-party oversight or related experience.
• Vendor Management certifications preferred.
• Ability to organize and prioritize job responsibilities.
• Ability to complete vendor and contract reviews in a timely and efficient manner.
• Ability to analyze, explain, and communicate information regarding vendors and contracts concisely and effectively to all levels of the organization with format and structure to match audience.
• Ability to create PowerPoint presentations along with ability to provide in-person training sessions in a professional and understandable manner.
• Ability to interpret and apply regulations or guidelines to current situations and provide guidance on best practices.
• Ability to create and maintain spreadsheets using PC spreadsheet proficiency, general word processing, and computer keyboarding experience including Word and Excel skills; ability to learn new technological skills, as needed.
• Ability to communicate with others one-on-one and in groups, fielding vendor-related questions, and responding to potential complaints.
• Ability to motivate and influence others, foster sound relationships, present a trustworthy and diplomatic image, and deal effectively with others
• Ability to define problems, collect data, establish facts and draw conclusions while dealing with a variety of abstract and concrete variables.
• Ability to write reports, correspondence, procedures, and work instructions while exhibiting grammatically correct documents.
• Ability to work independently.

PHYSICAL DEMANDS:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and stand; use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee occasionally is required to walk and stand. The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception, and the ability to adjust focus.
WORK ENVIRONMENT:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The employee will be required to work indoors in a climate-controlled office setting. The noise level in the work environment is usually moderate.
MENTAL DEMANDS:
The mental characteristics necessary to competently perform this job include the ability to focus and concentrate on tasks, to be persuasive, use good judgment; and, the continuous need to use auditory perception, memory, and reasoning ability.
*The intent of this job description is to provide a representative summary of the types of results that will be required of the positions given this title and shall not be construed as a declaration of the specific responsibilities of any particular position. Employees may be requested to perform job-related tasks other than those specifically outlined in this description.