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Principal Associate, Supplier Management

Job ID R86507 Updated date 11/25/2019 Location Richmond, Virginia
West Creek 7 (12077), United States of America, Richmond, Virginia

At Capital One, we’re building a leading information-based technology company. Still founder-led by Chairman and Chief Executive Officer Richard Fairbank, Capital One is on a mission to help our customers succeed by bringing ingenuity, simplicity, and humanity to banking. We measure our efforts by the success our customers enjoy and the advocacy they exhibit. We are succeeding because they are succeeding.                                               

Guided by our shared values, we thrive in an environment where collaboration and openness are valued. We believe that innovation is powered by perspective and that teamwork and respect for each other lead to superior results. We elevate each other and obsess about doing the right thing. Our associates serve with humility and a deep respect for their responsibility in helping our customers achieve their goals and realize their dreams. Together, we are on a quest to change banking for good.

Principal Associate, Supplier Management

A Principal Associate, Supplier Management is responsible for the holistic relationship between Capital One and third parties, ensuring a stable and efficient supply chain. Depending on the nature of the third party relationships, a Principal Associate, Supplier Manager may be responsible for more than one third party. They ensure key cost management, risk management, and performance management-related tasks for each of their assigned third party relationships. Additionally, these associates are responsible for ensuring that all Corporate or Business Unit level policies and procedures are adhered to, as well as maintaining appropriate documentation for their assigned relationships.

Key responsibilities include:

• Act as primary point of contact for third parties and manage an effective governance structure to enable the appropriate level of communication and interaction between Capital One and assigned third parties

• Negotiate contracts for a broad range of services for Capital One, ranging from larger more complex engagements that result from a sourcing event to smaller and less risky transactions that the business engages in directly

• Provide day-to-day operational advice, problem solving, and miscellaneous support for various internal customers

• Endeavor to deliver year-over-year cost savings with managed third party relationships and the applicable spend category

• Assist in development and execution of category/supplier strategies

• Partner with internal budget owners to deliver against operating budgets

• Partner with appropriate stakeholders on negotiations for all managed third party relationships

• Monitor and ensure successful delivery against third party contractual obligations

• Assist in the development of, and subsequently monitor, SLAs or key performance indicators for third party relationships

• Resolve performance-related issues/escalations with third parties

• Manage on-boarding/off-boarding of third parties

• Proactively identify and mitigate third party related risks. Synthesize these risks and performance-related data into a holistic assessment of assigned third parties

• Accountable for policy requirements for all managed third party relationships

• Plan and conduct periodic third party business reviews, including appropriate internal and external stakeholders in such reviews

• Assist in the development of appropriate business continuity/disaster recovery plans for managed third parties

• Partner with internal risk groups to ensure third party relationships are compliant with all relevant requirements

• Partner with appropriate stakeholders on sourcing activities which impact managed third party relationships

• Maintain constant awareness of external marketplace as it relates to third parties and/or relevant internal capabilities

• Identify mutually beneficial opportunities with third parties

• Travel to various third party sites and corporate locations when required

Basic Qualifications:

• Bachelor’s degree or Military experience 

• At least 3 years of experience in Supplier Management or Vendor Management

Preferred Qualifications:

• Master’s Degree in Supply Chain Management, or Business Administration, or Finance

• At least 3 years of experience in Risk Management

• At least 3 years of experience in Sourcing or Contracting review

• At least 3 years of experience in Project Management

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

No agencies please. Capital One is an Equal Opportunity Employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, physical and mental disability, genetic information, marital status, sexual orientation, gender identity/assignment, citizenship, pregnancy or maternity, protected veteran status, or any other status prohibited by applicable national, federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City’s Fair Chance Act; Philadelphia’s Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).