Principal Associate, Supplier Management
West Creek 1 (12071), 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. Specific third party relationship responsibilities will be assigned to Principal Associate, Supplier Management based upon the needs of a Business Unit or Staff function.
The Principal Associate, Supplier Management , Located in Richmond or McLean, VA, will work in a collaborative environment with internal business customers, as well as with other appropriate stakeholder groups within Capital One. Key responsibilities include:
• Act as primary point of contact for third party(ies) and manage an effective governance structure to enable the appropriate level of communication and interaction between Capital One and assigned third parties
• Endeavor to deliver year over year cost savings with managed third party relationships • Assist in development and execution of category/supplier strategies
• Partner with internal budget owners to deliver against operating or marketing budgets • Partner with appropriate stakeholders on negotiations for all managed third party relationships
• Responsible for proper invoice review, reconciliation and payment
• Monitor and ensure successful delivery against third party contractual obligations
• Assist in development of, and monitor, SLAs or key performance indicators for third party relationships
• Resolve performance related issues/escalations with third parties
• Produce regular performance related reporting for internal stakeholders
• 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
• Assist in the development of appropriate business continuity/disaster recovery plans for managed third parties
• Responsible for managing all third party-related audits
• 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
• Promote continuous improvement and a culture of innovation with managed third parties
• Manage supplier training, as required
• Bachelor's degree or military experience
• At least 3 years of experience in Supplier Management or Vendor Management.
• Master's Degree
• 5 years of experience in Supplier Management or Vendor Management
• Third Party Management certification
• Project Management certification
• Process management training (e.g. Six Sigma, BPM, etc.)
At this time, Capital One will not sponsor a new applicant for employment authorization for this position.
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