Job description:

BCS is NETS wholly owned subsidiary, and is an entity within the NETS Group. It manages and operates clearing and payment infrastructure for the Singapore Automated Clearing House, including Fast And Secure Transfers (FAST), Inter-bank GIRO (IBG), Cheque Truncation System (CTS), and provides services for PayNow and SGQR Central Repository, etc.

The IT Vendor Management Lead will be responsible for overall vendor management, including but not limited to vendor contracting and cost management, performance management (e.g., KPIs and SLAs tracking, risk and compliance management in line with regulatory and legal requirements, and continuous improvement), and risk management (e.g., due diligence).

Key Responsibilities include:

Oversee IT vendor management and manages risks associated with IT vendors
Manage contracting processes and costs, ensuring all vendor agreements align with BCS's focus, budget, and regulatory requirements
Track and analyse vendor performance against defined KPIs and SLAs, ensuring vendors fulfil performance standards; conduct period review and proactive improvement of KPIs and SLAs
Continuously monitor vendor security posture to track compliance and performance
Ensure all vendor activities comply with regulatory, security and legal requirements, conducting regular audits and assessments to mitigate risks
Drive initiatives for continuous improvement in vendor management processes, enhancing efficiency and effectiveness to align with evolving security standards, regulatory requirements and emerging risks in third-party ecosystems
Maintain strong relationships with vendors, acting as the primary point of contact to address any issues and foster collaborative partnerships
Conduct thorough due diligence on potential vendors to ensure they meet BCS's standards for reliability, security, and compliance
Prepare and present detailed reports on vendor performance, risks, and compliance to senior management and other stakeholders
Collaborate with internal stakeholders, including Technology division, NETS's shared services in Finance, to align vendor management standards with business objectives and requirements

Requirements:

Degree in Information Technology, Business Administration, or a related field
Minimum 5-7 years of experience in IT vendor management, procurement, or a related area
Proven experience in managing vendor relationships within the payments industry including vendor performance management and dispute resolution
Strong understanding of regulatory and legal requirements related to IT vendor management
Exhibit strong risk mindset, ensuring rigorous execution and adherence to best practices in line with BCS's role as an operator of the national critical payment infrastructure
Excellent analytical skills with the ability to assess vendor performance, track KPIs, and develop improvement plans
Good written and verbal communication skills
Strong problem-solving skills with a proactive approach to identifying issues, developing solutions, and implementing changes to improve vendor management processes
Certifications such as CISA, CISM, CISSP, CRISC or any relevant certification is an advantage

IT Vendor Risk Management Specialist