Principal Associate, Supplier ManagementApply now Job ID R86507 Updated date 11/25/2019 Location 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.
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
• Bachelor’s degree or Military experience
• At least 3 years of experience in Supplier Management or Vendor Management
• 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.
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 RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.
For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com
Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.
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).