Director, Vendor Management
Apply NowCompany: Federal Home Loan Bank of Boston
Location: Boston, MA 02115
Description:
The Federal Home Loan Bank of Boston (FHLBank Boston) is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. FHLBank Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 420 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.
Our highly skilled team of 200 is innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.
Position Summary
Reporting to the bank's Chief Information Officer, we are seeking a strategic and detail-focused Director, Vendor Managementto create and lead a new vendor management team at FHLBank Boston. Working within the bank's regulatory environment, this role will define the new department's mission and practices, define department roles, hire staff, and implement the bank's new vendor management model. This is an exciting opportunity to build a vendor management function from the ground up.
The role, and department, will focus on delivering maximum value from our vendor relationships, driving operational efficiency, and ensuring compliance with our regulatory requirements. The ideal candidate will have strong leadership capabilities, excellent negotiation skills, experience working in a regulated industry, and a deep understanding of vendor management practices.
The ideal candidate for this role is someone with current/recent experience with most aspects of this role. Prior vendor management leadership experience is required.
This role will have a hybrid work schedule in our Boston office in accordance with the Bank's Hybrid Work Program. More time will be expected in the office to support onboarding initially, up to 90 days.
Specific Responsibilities
Vendor Management Strategy
Develop and implement a comprehensive vendor management strategy aligned with bank goals, the bank's regulatory framework, and industry best practices.
Establish performance metrics and improve the bank's vendor evaluations to ensure vendors meet contractual obligations and service level agreements.
Orchestrate a risk-based approach to vendor selection, onboarding, and oversight, especially for critical vendors.
Team Leadership
Build the bank's first centralized vendor management team.
Lead and mentor a team of vendor management professionals, fostering a culture of accountability, collaboration, and continuous improvement.
Set team goals and provide regular feedback to ensure high performance and professional development.
Procurement & Cost Optimization
Collaborate with the Legal department and business subject matter experts to negotiate contracts, pricing, and terms that maximize value while minimizing risk.
Identify opportunities to streamline vendor portfolios and reduce costs without compromising quality or service delivery.
Stakeholder Collaboration
Partner with internal stakeholders (e.g., Legal, Compliance, Risk, IT, HR, and other bank departments) to ensure vendor engagements meet operational and regulatory requirements.
For many of the bank's vendors, act as the primary point of contact between the company and its vendors, facilitating clear communication and issue resolution.
Provide support and back-up for vendor-related activities in Legal and Human Resources.
Risk & Compliance Oversight
In collaboration with the bank's Enterprise Risk Management group and the bank's Legal team, monitor compliance with applicable regulations and ensure vendors adhere to company policies.
In collaboration with the bank's vendor management program, managed by the bank's Legal department, orchestrate the bank's program of vendor risk assessments of vendor relationships to identify and mitigate potential risks.
Data Analytics & Reporting
Utilize data and analytics to monitor vendor performance and provide actionable insights to leadership.
Prepare and present regular reports on vendor performance, risk exposure, vendor cost, and vendor management team performance to executive stakeholders and our board of directors.
Knowledge/Skills
Strong knowledge of vendor management frameworks, procurement practices, and
contract negotiation.
Proven ability to build and lead teams.
Exceptional communication, interpersonal, and relationship management skills.
Proficiency in vendor management software and tools.
Ability to analyze complex data and develop strategic insights.
Detail-oriented, with excellent problem-solving and decision-making capabilities.
Experience & Education
10 years of experience in vendor management, procurement, or supply chain, with at
least 3 years in a leadership role.
Preferred, financial services industry experience with knowledge of its regulatory
environment.
A degree in business administration, finance, supply chain, or related field is preferred or relevant experience.
The following Certifications are preferred:
Certified Regulatory Vendor Program Manager (CRVPM) or similar.
Certified Professional in Supply Management (CPSM) or similar.
Certified Third-Party Risk Professional (CTPRP) or similar
As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.
Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
Our highly skilled team of 200 is innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.
Position Summary
Reporting to the bank's Chief Information Officer, we are seeking a strategic and detail-focused Director, Vendor Managementto create and lead a new vendor management team at FHLBank Boston. Working within the bank's regulatory environment, this role will define the new department's mission and practices, define department roles, hire staff, and implement the bank's new vendor management model. This is an exciting opportunity to build a vendor management function from the ground up.
The role, and department, will focus on delivering maximum value from our vendor relationships, driving operational efficiency, and ensuring compliance with our regulatory requirements. The ideal candidate will have strong leadership capabilities, excellent negotiation skills, experience working in a regulated industry, and a deep understanding of vendor management practices.
The ideal candidate for this role is someone with current/recent experience with most aspects of this role. Prior vendor management leadership experience is required.
This role will have a hybrid work schedule in our Boston office in accordance with the Bank's Hybrid Work Program. More time will be expected in the office to support onboarding initially, up to 90 days.
Specific Responsibilities
Vendor Management Strategy
Develop and implement a comprehensive vendor management strategy aligned with bank goals, the bank's regulatory framework, and industry best practices.
Establish performance metrics and improve the bank's vendor evaluations to ensure vendors meet contractual obligations and service level agreements.
Orchestrate a risk-based approach to vendor selection, onboarding, and oversight, especially for critical vendors.
Team Leadership
Build the bank's first centralized vendor management team.
- Develop a plan to migrate the bank's vendor management workflows from its currently decentralized model to this new centralized team.
Lead and mentor a team of vendor management professionals, fostering a culture of accountability, collaboration, and continuous improvement.
Set team goals and provide regular feedback to ensure high performance and professional development.
Procurement & Cost Optimization
Collaborate with the Legal department and business subject matter experts to negotiate contracts, pricing, and terms that maximize value while minimizing risk.
Identify opportunities to streamline vendor portfolios and reduce costs without compromising quality or service delivery.
Stakeholder Collaboration
Partner with internal stakeholders (e.g., Legal, Compliance, Risk, IT, HR, and other bank departments) to ensure vendor engagements meet operational and regulatory requirements.
For many of the bank's vendors, act as the primary point of contact between the company and its vendors, facilitating clear communication and issue resolution.
- Work directly with the bank's regulator, the Federal Housing and Finance Agency, on matters concerning vendor management.
Provide support and back-up for vendor-related activities in Legal and Human Resources.
Risk & Compliance Oversight
In collaboration with the bank's Enterprise Risk Management group and the bank's Legal team, monitor compliance with applicable regulations and ensure vendors adhere to company policies.
In collaboration with the bank's vendor management program, managed by the bank's Legal department, orchestrate the bank's program of vendor risk assessments of vendor relationships to identify and mitigate potential risks.
Data Analytics & Reporting
Utilize data and analytics to monitor vendor performance and provide actionable insights to leadership.
Prepare and present regular reports on vendor performance, risk exposure, vendor cost, and vendor management team performance to executive stakeholders and our board of directors.
- Other duties as assigned.
Knowledge/Skills
Strong knowledge of vendor management frameworks, procurement practices, and
contract negotiation.
Proven ability to build and lead teams.
Exceptional communication, interpersonal, and relationship management skills.
Proficiency in vendor management software and tools.
Ability to analyze complex data and develop strategic insights.
Detail-oriented, with excellent problem-solving and decision-making capabilities.
Experience & Education
10 years of experience in vendor management, procurement, or supply chain, with at
least 3 years in a leadership role.
Preferred, financial services industry experience with knowledge of its regulatory
environment.
A degree in business administration, finance, supply chain, or related field is preferred or relevant experience.
The following Certifications are preferred:
Certified Regulatory Vendor Program Manager (CRVPM) or similar.
Certified Professional in Supply Management (CPSM) or similar.
Certified Third-Party Risk Professional (CTPRP) or similar
As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.
Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.