The PrivateBank Vendor Risk Management Analyst in Chicago, Illinois
CIBC provides tailored commercial, wealth management, personal, and small business financial solutions in the United States through 46 offices in 18 states, as well as cross-border banking services to clients with North American operations. Learn more at cibc.com/US.
CIBC is a Toronto-based, global financial institution with a 150 year history, serving 11 million personal and business clients. We invest in our businesses, our clients, our people and our communities to deliver consistent and sustainable earnings to our shareholders.
CIBC delivers access to career and development opportunities, safe and healthy workplaces, effective training, and positive work-life balance – so that employees are able to perform at their best, contribute to their communities and focus on cultivating deeper relationships with our clients.
Every year, CIBC is recognized for its business success, community commitment and employee initiatives. We are proud of this success and are committed to creating an inclusive workplace and an environment where all employees can excel.
CIBC Bank USA is an Equal Opportunity Employer M/F/Disability/Veteran
Administer VendorInsight, which is the solution that is used in the U.S. region to collaborate with both Bank employees and vendors. VendorInsight also houses all vendor documentation.
Validate information in VendorInsight to ensure it is both accurate and complete.
Act as the point of contact for assigned vendor relationships, enhancing communication between vendors and internal business owners impacted by the vendor relationship.
Support the expansion of the Vendor Risk Management Program from CIBC Bank USA to the U.S. region.
Analyze and consolidate data to adhere to requests from Canada related to reporting for the U.S. region.
Maintain a clear understanding of how all internal business owners are impacted by the executed contract.
Support updating of the internal governance framework to ensure effective oversight of the vendor relationship.
Provide guidance to the internal business owners and other key stakeholders to ensure responsibilities outlined within the Vendor Risk Management Program are fully understood.
Help ensure strong oversight of all risks related to the vendor and provide internal business owners with visibility of existing and emerging risks.
Participate in the assessment of vendor risk, develop mitigation plans and assign monitoring responsibilities.
Complete all risk and performance assessments, as well as other due diligence requirements, after collecting input from internal business owners.
Organize required meetings between internal business owners and vendors.
Ensure all contracts (Addenda or Statements of Work, for example) that become part of the Master Agreement are fully reviewed and receive appropriate signatures.
Work with internal stakeholders to obtain Service Level Agreements (SLA) from vendors and ensure they are appropriately reviewed.
Participate in issue escalation and issue resolution through root cause analysis and preventative actions.
Analyze vendor performance issues that are resulting in additional risk to the organization.
Create and maintain dashboards and reporting.
Participate in conversations with regulators, Internal Audit and Compliance, as appropriate.
Conduct required reviews of SOC reports, as necessary.
Ensure the products provided by the vendor comply with regulatory guidelines.
Identify training needs related to the products or services provided by the vendor.
Create and oversee Change Management requests.
Five (5) to Seven (7) Years of Experience
Financial Services Background
Experience Managing Vendor Relationships
Knowledge of Vendor Risk Management
Analytical and Conceptual Thinking – Creative and Strategic
Strong Communication Skills – Interpersonal, Presentation and Written
Integration – Joining People, Processes or Systems
Influencing and Negotiation Skills
Analytical and Problem Solving
Resource Management – Able to Work Independently
Contract Review and Management
Technologically Adept – Microsoft Office
External Company Name: CIBC US
External Company URL: https://us.cibc.com
Street: 70 West Madison