At Newrez, we bring big thinkers and caring doers together to make home happen. We’re a team built on heart and hustle, united by a commitment to show up for our customers, our communities, and each other. We believe that when our people thrive, homeowners thrive - and that’s why we invest in your growth, wellbeing, and ability to make an impact.
Every day, we work to exceed the expectations of our residential mortgage borrowers and business partners through superior service, simple processes, and clear communication. We do this by empowering our employees, encouraging innovative solutions and recognizing great performance.
The Director Vendor Management will report directly to Vice President of VMO and will be responsible for managing reviews of company’s high risk and critical vendors.
Oversee the monitoring of vendors and partnering with the Line of Business (LOBs) to minimize the inherent risk of outsourcing services to third parties. Ensure scorecards are structured to allow proper oversight and monitoring of the third party that commensurate with the level of risk and complexity of the relationship. This position will work with LOB leaders across Loss Mitigation, Claims, Foreclosure, Escrow, Cashiering, Document Management, Customer Relations, Investor Servicing, Investor Relations, Post Closing, and other Servicing units as identified, to ensure vendor performance and compliance of key performance and risk indicators.
This individual will also be the liaison between VMO and functional leaders, including Compliance, Risk, Legal, IT, IT Risks and Controls, HR, Marketing, Finance, Originations, Servicing and Transformation to foster cooperative working relationships and to assist these leaders in meeting their goals.
Essential Functions, Duties, and Responsibilities
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Prepares, analyzes, and negotiates, under supervision, with suppliers for efficient delivery of products and services.
- Analysis, identification, and communication of information regarding vendor orders; identifies, researches, and resolves problems relating to vendor issues.
- Verification of vendor data, development of reports to track vendors.
- Tracking, management and maintenance of vendor issues.
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Ensure strong oversight of vendor risks and provide insight on existing and potential risks.
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Partners with Business Units and Vendor partners on corrective action or remediation efforts including Performance Improvement Plans
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Ensure performance measures do not incentivize undesirable performance, such as encouraging processing volume or speed without regard for accuracy, compliance requirements, or adverse effects on customers.
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Research industry standards for service-level agreements to ensure vendors are operating withing acceptable parameters for standardized services, e.g., such as payroll processing.
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Draft, maintain and administor Vendor Management policies and procedures, training materials, job aids and other tools as it relates to vendor scorecards.
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Perform ongoing LOB training and support.
- Develop domain knowledge of company business to gain an understanding of short-term goals and long-term strategies for the organization.
- Collaborate with LOB managers and prospective vendors to fully understand products and/or services being provided; offer recommendations to the LOB for improved performance tracking of vendors.
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Maintain broad influence through ongoing development of relationships across the organization; manage business relationships and cultivate a collaborative environment.
- Timely identify critical issues and work to resolution.
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Key stake holder in the oversight of Visuant, the vendor scorecard system.
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Assist the VP of VMO with special projects as required.
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Ability to effectively and accurately convey information to others.
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Performs related duties as assigned by management.
Qualifications and Education Requirements:
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Bachelor’s degree in economics or finance highly preferred.
- 8+ years’ experience in vendor auditing experience, preferably in the mortgage industry.
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5+ years of experience in one or more of the following: Audit, Information Security, Business Continuity/Disaster Recovery, Mortgage Banking, Operational or Vendor Risk with an understanding of Vendor Risk Management.
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MBA and Certified Auditor designation is highly preferred.
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Strong background in managing teams and measuring work production.
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Knowledge of risk management frameworks and regulatory requirements
- Thorough understanding of the mortgage or financial industry's regulatory requirements for managing third party vendors (CFPB, FNMA, HUD, OCC, etc.).
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Advanced proficiency in general computer use (MS Word, Excel, Visio and Outlook) and with enterprise contract management and/or administrative systems
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Strong project management skills with experience leading initiatives across a distributed organization structure.
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Advanced working knowledge of Microsoft Office Suite, including Word, Excel, PowerPoint, DocuSign, Visio, Adobe PRO and contract management applications
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General understanding of systems and their application to advance the efficiency of operation.
Skills, Abilities, and Knowledge:
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Knowledge of risk management frameworks and regulatory requirements
- Thorough understanding of the mortgage or financial industry's regulatory requirements for managing third party vendors (CFPB, FNMA, HUD, OCC, etc.).
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Advanced proficiency in general computer use (MS Word, Excel, Visio and Outlook) and with enterprise contract management and/or administrative systems
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Strong project management skills with experience leading initiatives across a distributed organization structure.
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Advanced working knowledge of Microsoft Office Suite, including Word, Excel, PowerPoint, DocuSign, Visio, Adobe PRO and contract management applications
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Strong verbal communication skills; strong writing and composition abilities.
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Strong interpersonal skills with the ability to develop and maintain effective and professional relationships across the organization and with customers.
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Strong influencing and negotiation skills; consultative and collaborative work style.
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High learning agility with the ability to learn and integrate business variables and learn new systems and platforms.
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Strong analytical skills & problem-solving abilities; solid decision-making abilities coupled with sound judgment.
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Effective at managing multiple priorities under tight deadlines in a fast-paced, dynamic environment.
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Self-directed and comfortable working with ambiguity and uncertainty.
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High degree of professional maturity, integrity, ability to maintain confidential data and information.
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High degree of business acumen; strong technical aptitude.
Work Environment and Physical Requirements:
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Working on-site at assigned office location.
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Regular and punctual attendance adhering to schedule established by leadership.
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Flexibility to work occasional adjusted work schedules, overtime, and evening and/or weekend hours to meet deadlines or as business needs demand.
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Working in a cubicle hub, maintaining focus on phone calls in a noisy environment within earshot of multiple other conversations.
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Sedentary work in a stationary position at a cubicle for prolonged periods of time.
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Constant repetitive motions required for operating a computer, such as typing and managing phone calls.
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Constantly communicating effectively verbally in English, including accurately exchanging information with others following identification of correct procedures.
Additional Information:
While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.
All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Microsoft Authenticator. Employment will be contingent on this requirement.
Why Newrez
We’re a great place to work because we invest in what matters: your career, your community, your wellbeing, and your future. Our total rewards package is designed to support your whole self.
Company Benefits:
We offer benefits, programs, and perks that support you in every aspect of your life.
Medical, dental, and vision insurance
Health Savings Account with employer contribution
401(k) Retirement plan with employer match
Paid Maternity Leave/Parental Bonding Leave/Caregiver Leave
Adoption Assistance
Tuition & Certification reimbursement
Employee Mortgage Loan Program
The Newrez Employee Emergency and Disaster Fund is a program to support our team members experiencing hardships
Newrez NOW:
Through Newrez NOW, our Corporate Social Responsibility program, you’ll have opportunities to give back, lead, and make a difference.
1 company-paid Volunteer Time Off day (with over 40,000 volunteer hours contributed since our inception)
Matching Gifts Program - dollar-for-dollar up to $1,000
Access to grants, nonprofit resources, and volunteer opportunities
More than $6,000,000 donated since 2020
1 in 5 employees participates in at least one Employee Resource Group (ERG)
Equal Employment Opportunity
We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.
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