Vendor Management Director
New York, NY, US, 10172
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
The anticipated salary range for this role is between $190,000.00 and $210,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Role Description
SMBC is seeking a strategic and experienced Director of Vendor Management to lead third-party vendor oversight for the Cash Management business. This role is critical in ensuring that vendor relationships align with business goals, regulatory requirements, and risk management standards. The ideal candidate will bring deep expertise in vendor governance, contract negotiation, performance monitoring, and cross-functional collaboration.
Role Objectives: Delivery
Vendor Strategy & Governance
- Develop and implement a comprehensive vendor management strategy for the Cash Management business. - Establish governance frameworks to ensure compliance with internal policies and regulatory requirements. - Serve as the primary point of contact for all third-party vendors supporting Cash Management services.
Relationship Management
- Build and maintain strong relationships with key vendors to ensure service quality, innovation, and value delivery. - Facilitate regular performance reviews, business reviews, and strategic planning sessions with vendors.
Contract & Risk Management
- Lead contract negotiations, renewals, and amendments in collaboration with Legal, Compliance, and Procurement teams. - Monitor vendor risk, including operational, financial, and reputational risks, and implement mitigation strategies. - Ensure vendors meet service level agreements (SLAs), key performance indicators (KPIs), and regulatory obligations.
Cross-Functional Collaboration
- Partner with internal stakeholders including Technology, Operations, Risk, Compliance, and Finance to align vendor services with business needs. - Support audits, regulatory exams, and internal reporting related to vendor oversight.
Continuous Improvement
- Identify opportunities for cost optimization, process improvement, and innovation through vendor partnerships. - Stay abreast of industry trends, regulatory changes, and best practices in vendor management and cash management services.
Qualifications and Skills
- Bachelor’s degree in Business, Finance, Supply Chain, or related field; MBA or relevant certification (e.g., CTP, CPM, CRVPM) preferred. - 10+ years of experience in vendor management, procurement, or third-party risk management, preferably within financial services. - Strong understanding of cash management products and services. - Proven experience in contract negotiation, vendor performance management, and regulatory compliance. - Excellent communication, negotiation, and stakeholder management skills. - Ability to lead cross-functional initiatives and drive strategic outcomes.
Additional Requirements
SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.
Nearest Major Market: New York City