Vendor Governance & Management, Vice President
State Street · Posted Oct 7
Investment servicing, custody, asset management, and trading solutions for institutional investors
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About the role
State Street is a global financial services firm serving institutional investors in managing risk and driving performance. The Vendor Governance & Management function establishes and leads the governance framework for third-party vendor relationships, coordinating between internal stakeholders, Procurement, Finance, Risk, SOW Owners, Project Managers, and external suppliers. This Vice President role drives vendor performance management, contract and lifecycle governance, risk and compliance oversight, spend optimization, and supplier relationship management, and supports the Clarity roll out and reporting across Investment Management.
What you will do
- Design, implement, and continuously improve vendor governance frameworks, policies, standards, and processes.
- Establish structured engagement models and governance forums to drive vendor accountability and transparency.
- Standardize vendor management practices across the organization to ensure consistency, compliance, and operational efficiency.
- Develop and maintain governance dashboards, performance reporting, and executive-level scorecards.
- Develop vendor scorecards and performance measurement frameworks aligned to business objectives.
- Monitor and report on vendor performance against established SLAs, KPIs, contractual commitments, and service standards.
- Lead Monthly Business Reviews (MBRs) and Quarterly Business Reviews (QBRs) with strategic suppliers.
- Identify performance gaps, drive remediation plans, and ensure timely execution of corrective actions.
- Conduct trend analysis and provide actionable insights to leadership regarding vendor performance and service delivery.
- Partner with Procurement and Legal teams to manage vendor contractual obligations and compliance requirements.
- Ensure vendors deliver in accordance with agreed service levels, contract terms, and operational commitments.
- Maintain oversight of contract milestones, renewals, amendments, and termination requirements.
- Support contract negotiations by providing performance, financial, and risk insights.
- Support the Workforce lead on data collection and insights on Workforce.
- Support on Clarity roll out across Investment Management.
- Support in Clarity Reporting.
- Act as the primary liaison between internal stakeholders and external vendors.
- Build and maintain strong partnerships with strategic suppliers to promote collaboration, innovation, and service excellence.
- Facilitate communication, issue resolution, and alignment between vendors and business stakeholders.
- Partner closely with SOW Owners, PMs, Finance, Procurement, BMO, and Risk teams to ensure seamless vendor engagement.
- Conduct risk-based vendor reviews and due diligence assessments.
- Monitor cybersecurity, operational, financial, regulatory, and compliance-related vendor risks.
- Coordinate risk mitigation activities and remediation efforts with appropriate stakeholders.
- Ensure vendor governance activities comply with internal policies, regulatory requirements, and audit expectations.
- Support internal and external audits related to third-party vendor management.
- Partner with Finance and BMO teams to support vendor budgeting, forecasting, and financial planning activities.
- Monitor vendor expenditures and track budget performance.
- Analyze spend data to identify optimization opportunities, cost reduction initiatives, and vendor consolidation strategies.
- Review invoice discrepancies and coordinate resolution activities with vendors and internal teams.
- Oversee vendor lifecycle management, including onboarding, monitoring, renewal, and offboarding processes.
- Coordinate vendor renewal planning, evaluations, and approval workflows.
- Provide recommendations on contract extensions, renewals, supplier rationalization, and sourcing decisions.
- Ensure onboarding and offboarding activities are completed in accordance with compliance, security, and procurement requirements.
- Serve as the primary escalation point for vendor-related issues and operational concerns.
- Lead resolution efforts for service failures, delivery issues, contractual disputes, invoice discrepancies, and performance concerns.
- Conduct root-cause analysis and implement sustainable corrective actions.
- Track and report on escalations, risks, and issue resolution effectiveness.
- Drive continuous improvement initiatives across vendor management processes and governance practices.
- Identify opportunities to improve vendor performance, reduce costs, enhance controls, and increase operational efficiency.
- Develop executive reporting and dashboards to support strategic decision-making.
- Leverage data analytics to improve vendor oversight and supplier performance outcomes.
Skills used in this role
What the employer is looking for
- Strong vendor governance and supplier relationship management expertise.
- Deep understanding of contract management and performance measurement frameworks.
- Experience with KPI, SLA, and scorecard development.
- Strong analytical, financial, and reporting capabilities.
- Excellent stakeholder management and executive communication skills.
- Ability to influence decisions across multiple business functions.
- Strong negotiation, conflict resolution, and escalation management skills.
- Experience with governance dashboards, reporting tools, and data visualization platforms.
- Knowledge of third-party risk management and regulatory compliance practices.
- Any relevant Bachelor’s Degree.
- 7+ years of experience in Vendor Management, Supplier Governance, Procurement Operations, Business Operations, Third-Party Risk Management, or related functions.
- Experience managing strategic vendor relationships in a complex enterprise environment.
- Demonstrated experience with contract governance, SLA management, performance scorecards, and executive reporting.
- Experience working with cross-functional teams including Procurement, Finance, Legal, Risk, Technology, and Business stakeholders.
Benefits and support
- inclusive development opportunities
- flexible work-life support
- paid volunteer days
- employee networks
About State Street
State Street Corporation is a leading global financial services holding company providing institutional investors with investment servicing, investment management, and investment research and trading. Operating in more than 100 geographic markets worldwide, the company manages and administers trillions of dollars in assets through its core divisions like State Street Global Advisors and State Street Alpha. Headquartered in Boston, Massachusetts, it traces its origins back to 1792.
- Industry
- Financial Services
- Company size
- 51000+ employees
- Founded
- 1792-06-25
- Location
- Boston, Massachusetts, USA
- Funding stage
- Public Company
Leadership
Chairman and Chief Executive Officer
John Woods
Chief Financial Officer
Mostapha Tahiri
President of State Street Alpha & Chairman of Asia Pacific
Ann Fogarty
Enterprise Chief Operating Officer
President and Chief Executive Officer of State Street Investment Management
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