banking jobs in UAE | RAKBANK careers

 banking jobs in UAE | RAKBANK careers

RAKBANK announced, through its Linkedin account, a bank job in UAE (Vice President – Vendor Management) according to the following:

• Responsible for effective coordination between the vendors, procurement sourcing team and the business units ensuring a 360-degree view of supplier relationship helping stakeholders make timely and accurate business decisions. 
• This would include for matters related to vendor performance, third party risk management and procurement contract risk management
• Establish and maintain strong relationships with vendors and partners
• Oversee the vendor selection process, ensuring that all vendors and third parties meet the bank’s risk management criteria
• Develop and maintain a comprehensive vendor management program that includes vendor selection, onboarding, monitoring, and termination processes
• Contract negotiation and review: Collaborate with legal and procurement teams to ensure appropriate risk mitigation measures are included in vendor contracts
• Review contractual terms, service level agreements, and insurance provisions to protect the organization's interests and minimize potential risks
• Conduct risk assessments: Evaluate potential risks associated with third-party vendors, such as financial stability, regulatory compliance, cybersecurity, data privacy, and operational resilience. 
• Assess the impact and likelihood of these risks and develop strategies to mitigate and manage them effectively. 
• Collaborate with legal, compliance and information security teams to ensure vendor compliance with data protection and security requirements
• Stay informed about regulatory changes and industry best practices: Stay up to date with relevant laws, regulations, and industry standards related to vendor management, outsourcing and third-party risk management. 
• Continuously assess and enhance the organization's risk management practices to align with evolving regulatory requirements and industry best practices
• Develop and deliver training programs for internal stakeholders on vendor management policies and procedures
• Establish and maintain effective vendor governance structures and updates to stakeholders and committees
• Develop a vendor scoring system to evaluate and rank vendors based on performance metrics
• Ensure timely and accurate reporting on vendor performance and compliance to senior management and regulators
• Lead cross-functional vendor management projects to drive process improvements and cost efficiencies
• Continuously monitor market trends and vendor landscape to identify opportunities for innovation and optimization
• Act as a subject matter expert on vendor management practices and provide guidance to internal teams
• Foster a culture of transparency and accountability in vendor relationships to uphold the bank's reputation and integrity
• Excellent negotiation and contracting skills
• Strong analytical and problem-solving abilities
• Excellent communication and interpersonal skills
• Proficient in assessing vendor costs, financial risks, and understanding contracts
• Minimum of 10 years of experience in vendor management or procurement, preferably in the banking industry
• Strong knowledge of vendor management best practices and regulatory requirements.

To know more details about the vacancy and how to apply kindly check the link below:

apply from here

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