1+ months

Principal Associate, Supplier Management

Capital One
Richmond, VA 23219
West Creek 7 (12077), United States of America, Richmond, Virginia

At Capital One, were 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.

Key responsibilities include:

Act as primary point of contact for third parties and manage an effective governance structure to enable the appropriate level of communication and interaction between Capital One and assigned third parties

Negotiate contracts for a broad range of services for Capital One, ranging from larger more complex engagements that result from a sourcing event to smaller and less risky transactions that the business engages in directly

Provide day-to-day operational advice, problem solving, and miscellaneous support for various internal customers

Endeavor to deliver year-over-year cost savings with managed third party relationships and the applicable spend category

Assist in development and execution of category/supplier strategies

Partner with internal budget owners to deliver against operating budgets

Partner with appropriate stakeholders on negotiations for all managed third party relationships

Monitor and ensure successful delivery against third party contractual obligations

Assist in the development of, and subsequently monitor, SLAs or key performance indicators for third party relationships

Resolve performance-related issues/escalations with third parties

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 in such reviews

Assist in the development of appropriate business continuity/disaster recovery plans for managed third parties

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

Basic Qualifications:

Bachelors degree or Military experience

At least 3 years of experience in Supplier Management or Vendor Management

Preferred Qualifications:

Masters Degree in Supply Chain Management, or Business Administration, or Finance

At least 3 years of experience in Risk Management

At least 3 years of experience in Sourcing or Contracting review

At least 3 years of experience in Project Management

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.


Posted: 2019-11-27 Expires: 2020-01-26

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Principal Associate, Supplier Management

Capital One
Richmond, VA 23219

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