The Vendor Governance & Management Manager is responsible for establishing and leading the governance framework for third-party vendor relationships across the organization. This role serves as the central point of coordination between internal business stakeholders, Procurement, Finance, Risk, SOW Owners, Project Managers, and external suppliers to ensure vendors deliver against contractual commitments, service expectations, compliance requirements, and strategic business objectives.
The successful candidate will drive vendor performance management, operational governance, risk oversight, cost optimization, contract compliance, renewals, and supplier relationship management while fostering strong partnerships that support business continuity and organizational goals.
Join us if making your mark in the financial services industry from day one is a challenge you are up for.
What you will be responsible for
As Vendor Governance & Management Manager, you will
Vendor Governance & Operating Model
- Design, implement, and continuously improve vendor governance frameworks, policies, standards, and processes.
- Establish structured engagement models and governance forums to drive vendor accountability and transparency.
- Standardize vendor management practices across the organization to ensure consistency, compliance, and operational efficiency.
- Develop and maintain governance dashboards, performance reporting, and executive-level scorecards.
Vendor Performance Management
- Develop vendor scorecards and performance measurement frameworks aligned to business objectives.
- Monitor and report on vendor performance against established SLAs, KPIs, contractual commitments, and service standards.
- Lead Monthly Business Reviews (MBRs) and Quarterly Business Reviews (QBRs) with strategic suppliers.
- Identify performance gaps, drive remediation plans, and ensure timely execution of corrective actions.
- Conduct trend analysis and provide actionable insights to leadership regarding vendor performance and service delivery.
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- Partner with Procurement and Legal teams to manage vendor contractual obligations and compliance requirements.
- Ensure vendors deliver in accordance with agreed service levels, contract terms, and operational commitments.
- Maintain oversight of contract milestones, renewals, amendments, and termination requirements.
- Support contract negotiations by providing performance, financial, and risk insights.
Workforce Management
- Support the Workforce lead on data collection and insights on Workforce.
- Support on Clarity roll out across Investment Management.
- Support in Clarity Reporting.
Stakeholder & Relationship Management
- Act as the primary liaison between internal stakeholders and external vendors.
- Build and maintain strong partnerships with strategic suppliers to promote collaboration, innovation, and service excellence.
- Facilitate communication, issue resolution, and alignment between vendors and business stakeholders.
- Partner closely with SOW Owners, PMs, Finance, Procurement, BMO, and Risk teams to ensure seamless vendor engagement.
Risk, Compliance & Controls
- Conduct risk-based vendor reviews and due diligence assessments.
- Monitor cybersecurity, operational, financial, regulatory, and compliance-related vendor risks.
- Coordinate risk mitigation activities and remediation efforts with appropriate stakeholders.
- Ensure vendor governance activities comply with internal policies, regulatory requirements, and audit expectations.
- Support internal and external audits related to third-party vendor management.
Financial & Spend Management
- Partner with Finance and BMO teams to support vendor budgeting, forecasting, and financial planning activities.
- Monitor vendor expenditures and track budget performance.
- Analyze spend data to identify optimization opportunities, cost reduction initiatives, and vendor consolidation strategies.
- Review invoice discrepancies and coordinate resolution activities with vendors and internal teams.
Renewal & Lifecycle Management
- Oversee vendor lifecycle management, including onboarding, monitoring, renewal, and offboarding processes.
- Coordinate vendor renewal planning, evaluations, and approval workflows.
- Provide recommendations on contract extensions, renewals, supplier rationalization, and sourcing decisions.
- Ensure onboarding and offboarding activities are completed in accordance with compliance, security, and procurement requirements.
Issue Resolution & Escalation Management
- Serve as the primary escalation point for vendor-related issues and operational concerns.
- Lead resolution efforts for service failures, delivery issues, contractual disputes, invoice discrepancies, and performance concerns.
- Conduct root-cause analysis and implement sustainable corrective actions.
- Track and report on escalations, risks, and issue resolution effectiveness.
Continuous Improvement & Reporting
- Drive continuous improvement initiatives across vendor management processes and governance practices.
- Identify opportunities to improve vendor performance, reduce costs, enhance controls, and increase operational efficiency.
- Develop executive reporting and dashboards to support strategic decision-making.
- Leverage data analytics to improve vendor oversight and supplier performance outcomes.
What we value
These skills will help you succeed in this role
- Strong vendor governance and supplier relationship management expertise.
- Deep understanding of contract management and performance measurement frameworks.
- Experience with KPI, SLA, and scorecard development.
- Strong analytical, financial, and reporting capabilities.
- Excellent stakeholder management and executive communication skills.
- Ability to influence decisions across multiple business functions.
- Strong negotiation, conflict resolution, and escalation management skills.
- Experience with governance dashboards, reporting tools, and data visualization platforms.
- Knowledge of third-party risk management and regulatory compliance practices.
Education & Preferred Qualifications
- Any relevant Bachelor’s Degree.
- 7+ years of experience in Vendor Management, Supplier Governance, Procurement Operations, Business Operations, Third-Party Risk Management, or related functions.
- Experience managing strategic vendor relationships in a complex enterprise environment.
- Demonstrated experience with contract governance, SLA management, performance scorecards, and executive reporting.
- Experience working with cross-functional teams including Procurement, Finance, Legal, Risk, Technology, and Business stakeholders.
About State Street
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
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