Transaction Banking, Vendor Management, Associate

Goldman Sachs•Dallas, TX

About The Position

Our mission is simple: provide a global transaction banking platform that is nimble, secure, and easy for clients use. We have delivered a modern, digital-first transaction banking platform to serve GS’ varied client base. Our business combines the strength, heritage, and expertise of a 150-year-old firm with the agility and entrepreneurial spirit of a tech start-up designed to solve some of the most complex operational needs in the industry. We aim to help our clients achieve Working Capital efficiency gains by optimizing their short term liquidity needs and simplifying their Cash Management operations. We do so by delivering a best-in-class digital solution that helps clients manage their liquidity movements, foreign exchange and payments enabling international treasury operations and commerce. We’re a team of diverse Treasury and Payments specialists helping our clients solution and build for the future. The Vendor Manager is responsible for strategically managing the organization's relationships with key vendors, ensuring optimal value, performance, and compliance. This role encompasses the full lifecycle of vendor engagement, from selection and contract negotiation to performance monitoring, risk mitigation, and technology integration. The Vendor Manager will drive cost efficiencies, foster innovation, and safeguard the organization against vendor-related business risks. Responsibilities include but are not limited to:

Requirements

Bachelor's degree in Business Administration, Supply Chain Management, Information Technology, Finance, or a related field.
Minimum of 6 years of progressive experience in vendor management, procurement, contract management, or a related strategic sourcing role.
Proven track record of successful negotiation and contract execution.
Experience managing technology vendors and understanding IT service delivery models.
Demonstrated experience in developing and implementing vendor risk management frameworks.
Exceptional negotiation and communication (written and verbal) skills.
Strong analytical and problem-solving abilities, with a keen eye for detail.
Proficiency in contract law principles and best practices.
Solid understanding of IT infrastructure, software, and service delivery models.
Ability to manage multiple projects and priorities in a fast-paced environment.
Strong leadership and interpersonal skills, with the ability to influence and build consensus.

Nice To Haves

A Master's degree or relevant certifications (e.g., Certified Professional in Supply Management (CPSM), Certified Commercial Contracts Manager (CCCM)) is a plus.

Responsibilities

Contract Management: Oversee the entire contract lifecycle, including drafting, review, negotiation, execution, and renewal of vendor agreements.
Ensure all contracts align with organizational policies, legal requirements, and business objectives.
Monitor contract compliance, terms, and conditions, identifying and addressing any deviations or breaches.
Maintain a centralized repository of vendor contracts and related documentation.
Negotiation & Relationship Management: Lead and execute complex negotiations with vendors to secure favorable terms, pricing, service level agreements (SLAs), and performance metrics.
Develop and maintain strong, collaborative relationships with key vendors, acting as the primary point of contact.
Conduct regular business reviews with vendors to assess performance, discuss strategic initiatives, and address issues.
Drive continuous improvement and innovation through vendor partnerships.
Vendor Technology Management: Evaluate vendor capabilities and technological offerings to ensure alignment with the organization's strategic technology roadmap and business needs.
Collaborate with IT and business units to assess the integration, scalability, and security of vendor technologies.
Stay abreast of market trends and emerging technologies relevant to vendor services, recommending strategic adjustments as needed.
Manage vendor-provided software, hardware, and service solutions, ensuring they meet operational requirements.
Business Risk Management: Identify, assess, and mitigate potential business risks associated with vendor relationships, including operational, financial, security, data privacy, compliance, and reputational risks.
Develop and implement vendor risk assessment frameworks and due diligence processes.
Ensure vendors adhere to the organization's security policies, regulatory requirements, and ethical standards.
Develop contingency plans and exit strategies for critical vendor services.
Performance Monitoring & Reporting: Define, track, and report on key performance indicators (KPIs) and SLAs for all managed vendors.
Analyze vendor performance data to identify trends, areas for improvement, and opportunities for cost savings.
Prepare and present regular reports on vendor performance, risk posture, and strategic initiatives to senior management.
Strategic Sourcing & Procurement Support: Collaborate with procurement teams on vendor selection processes, including RFI/RFP development and evaluation.
Contribute to the development of vendor management strategies and policies.