Merrick Bank
Director, Vendor Oversight
Merrick Bank, South Jordan, Utah, United States, 84095
Director, Vendor Oversight
Apply locations South Jordan Default Location Time Type: Full time
Posted on: Posted 6 Days Ago
Job Requisition ID: JR100468
Join our team - and take the next step in achieving a fulfilling career!
What We Do
At CardWorks, we aim to help people connect with possibility and opportunity using our financial servicing expertise. Building meaningful, long-term relationships with consumers, our employees, and our clients is what matters most.
Who We Are
CardWorks, Inc. is a diversified consumer finance service provider and parent company of CardWorks Servicing, LLC, Merrick Bank, and Carson Smithfield, LLC.
CardWorks Servicing, LLC provides end-to-end operational servicing functions for credit cards, secured cards, and installment loans. We service consumer and small business loans across the credit spectrum and offer backup servicing and due diligence services to capital providers and trustees.
Merrick Bank is an FDIC-insured Utah Industrial Loan Bank. Merrick operates three main business lines: credit cards, recreational lending, and merchant services.
Carson Smithfield, LLC provides a variety of post-charge-off debt recovery services, including digital self-service, IVR, live agent, and external agency management.
Position Summary:
The Director of Vendor Oversight manages teams and employees and is responsible for vendor management and customer experience. They will also be responsible for the direct management of designated vendors and supporting the contract and relationship management processes related to those vendors. Further, they are responsible for the direct relationships of the affiliate departments that work in the related areas tied to Merrick’s operational areas, to which they are directly accountable. This role will contribute to the overall strategy development, tracking, and reporting of vendor oversight responsibilities. These functions may include but are not limited to, collections, fraud, payments and external communications, credit and disputes, and client accounting and settlement services. The Director manages the teams, vendors, affiliates, and related processes, interactions, and exceptions related to these activities. Individuals must also be able to travel to support the management of assigned vendors and affiliate relations. The Director will be responsible for Affiliate and 3rd party service relationship management, Vendor Relations, and Customer Experience.
Affiliate and 3rd Party Servicing Relationship Management:
Manage and oversee the performance of the bank and CardWorks Servicing LLC (“CWS”) in all areas within the Vendor Relations Department, including Fraud and Disputes, Collections and Recovery, and Payments.
Vendor Relations:
Direct the day-to-day work of the Fraud, Collections, Recovery, and Payments teams by providing direction, prioritizing tasks and duties, and serving as the stakeholder on projects to create efficiencies and enable growth. Build and drive strategic initiatives for the department that enable corporate initiatives and limit exposure to the department.
Customer Experience:
Champion efficient, effective, and positive interactions with cardholders by overseeing the activities tied to completing or assisting in performing the functions tied to the complaint management process.
Tasks:
Responsible as the direct backup relationship manager for the assigned vendors and affiliate departments to build effective relationships that facilitate the organization's growth.
Responsible for holding monthly calibration meetings with vendors and appropriately escalating any concerning trends from the vendor to business partners, risk, and compliance.
Develop and build external relations with vendors that perform service in related areas and participate in institutional roundtables that support these areas to continue building a portfolio of potential vendors that provide services in these areas.
Analyzes performance monthly to ensure that contractual obligations are met, including SLA requirements. Completes annual terms review to ensure the contracts align with the organization's forecast projections.
Responsible for the end-to-end management of the RFP processes, from understanding the upfront stakeholder requirements to going to market, reviewing and evaluating proposals for selection recommendation, implementation, and monitoring post-implementation performance, including site visits.
Ensures terms are managed to ensure the consistent application of the company's policies and minimize risk and exposure to the company.
Vendor Oversight: Building, developing, and presenting reports on vendor compliance with contractual requirements.
Reviews, researches, and investigates issues related to vendors and those supporting those services both internally and externally and approves changes as needed while utilizing company policies based on scope and size.
Tracks, facilitates and ensures a thorough review of vendor concerns through leveraging internal resources to research and report issues related to vendor activity and support vendor teams in resolving customer requests, complaint investigations, and root cause analysis.
Ensures that the regular review of continuity plans, contractual documents, and other supporting documents for assigned vendors and affiliate departments are completed. All activities need to be organized and recorded in Archer Vendor Relations module.
Managed systems, system processes, and change control processes for assigned vendors and affiliate departments.
Addresses interdepartmental work for vendor requests and oversees supporting documentation and reporting creation.
Responsible for the daily execution of various tasks related to report monitoring, business operations, vendor processes, and performance metrics.
Other duties as assigned.
Additional Essential Functions:
Directs resolving accounts/escalations while evaluating processes for continuous improvement to enhance productivity and quality.
Responsible for the affiliate relationships with the CWS teams and ensuring collaboration and communication occur on Bank programs and upcoming initiatives.
Responsible for managing and enforcing contractual Service Level Agreements between assigned vendors, including CWS and the bank.
Oversees and directs the activities for the compliance management program and Visa and Mastercard bylaws and addresses areas of non-compliance with proper reporting to Bank management.
Directs the activities to ensure engagement with CWS associates and management, allowing feedback and instituting changes to improve the experience of cardholders and associates.
Manages and maintains appropriate documentation for the oversight of vendors as outlined in the Third-Party Risk Management Policy, as well as additional reporting as required.
Directs the team's activities in addressing and supporting CWS audits and managing the resolution of any items requiring remediation.
Conducts periodic on-site visits of affiliate and Third-Party vendors in conjunction with the AVP and VP of Vendor and Process Management to facilitate the proper assessment of risk through the annual review process.
Directs the implementation of the Bank’s policies, procedures, strategies, goals, and values into the operational areas of CWS and assigned vendors.
Oversees adherence to all policies and procedures through managing and directing exception reports and standard monthly operational reports within CWS and Merrick. Escalate any issues for resolution within CWS or the Bank.
Oversees, investigates and participates in complaint processing, handling, and reporting for areas of responsibility.
Directs the team's activities to ensure vendor management activities are tracked and completed related to communication monitoring, escalation management, and process and transaction testing to enhance the customer experience and maintain compliance.
Maintains a thorough knowledge of Bank policies and procedures concerning servicing of cardholders and their accounts.
Builds, drives, leads, and participates in projects or initiatives that improve quality, create efficiency, and reduce cost.
Manages budget activities for the department and makes updates quarterly as needed.
Maintains a thorough knowledge of State and Federal regulations regarding consumer lending and servicing of cardholders and their accounts.
Manages affiliate and third-party providers’ compliance with their policies and applicable laws and demonstrates the reliability and integrity of their data and documentation practices.
Manages and facilitates the relationship and collaboration with the Compliance Department to ensure compliance issues are prioritized, adequately identified, and reported.
Directs the review of both the affiliate and team’s activities that will provide reasonable assurance that controls are designed and operating effectively with a properly established and approved quality process.
All other duties as assigned.
Compliance with Laws & Regulations:
Responsible for complying with the Bank’s internal control policies and procedures.
Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.
Education and Experience:
Bachelors’ degree is required, four (4) years’ experience accepted in lieu of education requirement.
Two (2) years’ experience as a manager with management of external vendors and outsource services is required.
Five (5) years’ experience working with credit card systems and processes, as well as working in a regulated industry is required.
Summary of Qualifications:
Demonstrated ability to investigate and resolve problems that require in-depth analysis independently.
Detail-oriented with strong analytical, communication (verbal and written), problem-solving, organizational skills, and critical thinking.
Communicates effectively both orally and in writing; presents ideas in a clear, concise, understandable and organized manner.
Shows effective planning, organization, time management, and problem-solving skills.
Proven ability to work effectively under pressure. Skill at handling a variety of assignments simultaneously. Flexibility and willingness to work at a rapid pace in strict time frames.
Proficient with Microsoft Office products along with loss mitigation tools and systems.
Our Employee Value Proposition
Competitive Pay, including a Bonus Target or Variable Pay Incentive Program
Benefits Package - Medical, Dental, and Vision (plus much more)
401(k) Plan with Company Match
Short- & Long-Term Disability
Wellness Programs
Group Life and AD&D Insurance
Paid Vacation, Sick Days and Bank Holidays
Employee Engagement Activities including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, Service Recognition
We offer a total rewards package comprised of a competitive base rate of pay, variable pay incentive programs based on the role, and a comprehensive benefit suite. Offered rates of pay are determined based on job-related knowledge, relevant experience, skills, certifications, and geographic location.
We are an equal opportunity employer, and we evaluate qualified applicants without regard to race, color, religion, sex, national origin, disability, veteran status or any other legally protected characteristic. We will conduct a thorough background check for all hires in compliance with applicable laws.
At Merrick Bank, we specialize in credit programs that assist people looking to build or rebuild their credit.
Founded in 1997, Merrick Bank is FDIC insured and recognized as a top 20 credit card issuer in the U.S. In total, we proudly serve nearly 3.4 million cardholders and have extended nearly $6 billion in credit.
We also provide consumer finance options to marine, RV, powersports, horse and utility trailer dealers across the country to help customers find new opportunities to get what they need for recreation.
As a top 12 Merchant Acquirer, Merrick Bank’s merchant business provides support to over 150,000 merchants through approximately 40 independent sales organizations, with over $60B in annual card purchase volume.
We offer a wide range of High-Yield Certificates of Deposit with competitive rates and FDIC insurance up to the maximum allowed by law – as Merrick Bank is extremely well capitalized and poised for continued growth.
#J-18808-Ljbffr
Apply locations South Jordan Default Location Time Type: Full time
Posted on: Posted 6 Days Ago
Job Requisition ID: JR100468
Join our team - and take the next step in achieving a fulfilling career!
What We Do
At CardWorks, we aim to help people connect with possibility and opportunity using our financial servicing expertise. Building meaningful, long-term relationships with consumers, our employees, and our clients is what matters most.
Who We Are
CardWorks, Inc. is a diversified consumer finance service provider and parent company of CardWorks Servicing, LLC, Merrick Bank, and Carson Smithfield, LLC.
CardWorks Servicing, LLC provides end-to-end operational servicing functions for credit cards, secured cards, and installment loans. We service consumer and small business loans across the credit spectrum and offer backup servicing and due diligence services to capital providers and trustees.
Merrick Bank is an FDIC-insured Utah Industrial Loan Bank. Merrick operates three main business lines: credit cards, recreational lending, and merchant services.
Carson Smithfield, LLC provides a variety of post-charge-off debt recovery services, including digital self-service, IVR, live agent, and external agency management.
Position Summary:
The Director of Vendor Oversight manages teams and employees and is responsible for vendor management and customer experience. They will also be responsible for the direct management of designated vendors and supporting the contract and relationship management processes related to those vendors. Further, they are responsible for the direct relationships of the affiliate departments that work in the related areas tied to Merrick’s operational areas, to which they are directly accountable. This role will contribute to the overall strategy development, tracking, and reporting of vendor oversight responsibilities. These functions may include but are not limited to, collections, fraud, payments and external communications, credit and disputes, and client accounting and settlement services. The Director manages the teams, vendors, affiliates, and related processes, interactions, and exceptions related to these activities. Individuals must also be able to travel to support the management of assigned vendors and affiliate relations. The Director will be responsible for Affiliate and 3rd party service relationship management, Vendor Relations, and Customer Experience.
Affiliate and 3rd Party Servicing Relationship Management:
Manage and oversee the performance of the bank and CardWorks Servicing LLC (“CWS”) in all areas within the Vendor Relations Department, including Fraud and Disputes, Collections and Recovery, and Payments.
Vendor Relations:
Direct the day-to-day work of the Fraud, Collections, Recovery, and Payments teams by providing direction, prioritizing tasks and duties, and serving as the stakeholder on projects to create efficiencies and enable growth. Build and drive strategic initiatives for the department that enable corporate initiatives and limit exposure to the department.
Customer Experience:
Champion efficient, effective, and positive interactions with cardholders by overseeing the activities tied to completing or assisting in performing the functions tied to the complaint management process.
Tasks:
Responsible as the direct backup relationship manager for the assigned vendors and affiliate departments to build effective relationships that facilitate the organization's growth.
Responsible for holding monthly calibration meetings with vendors and appropriately escalating any concerning trends from the vendor to business partners, risk, and compliance.
Develop and build external relations with vendors that perform service in related areas and participate in institutional roundtables that support these areas to continue building a portfolio of potential vendors that provide services in these areas.
Analyzes performance monthly to ensure that contractual obligations are met, including SLA requirements. Completes annual terms review to ensure the contracts align with the organization's forecast projections.
Responsible for the end-to-end management of the RFP processes, from understanding the upfront stakeholder requirements to going to market, reviewing and evaluating proposals for selection recommendation, implementation, and monitoring post-implementation performance, including site visits.
Ensures terms are managed to ensure the consistent application of the company's policies and minimize risk and exposure to the company.
Vendor Oversight: Building, developing, and presenting reports on vendor compliance with contractual requirements.
Reviews, researches, and investigates issues related to vendors and those supporting those services both internally and externally and approves changes as needed while utilizing company policies based on scope and size.
Tracks, facilitates and ensures a thorough review of vendor concerns through leveraging internal resources to research and report issues related to vendor activity and support vendor teams in resolving customer requests, complaint investigations, and root cause analysis.
Ensures that the regular review of continuity plans, contractual documents, and other supporting documents for assigned vendors and affiliate departments are completed. All activities need to be organized and recorded in Archer Vendor Relations module.
Managed systems, system processes, and change control processes for assigned vendors and affiliate departments.
Addresses interdepartmental work for vendor requests and oversees supporting documentation and reporting creation.
Responsible for the daily execution of various tasks related to report monitoring, business operations, vendor processes, and performance metrics.
Other duties as assigned.
Additional Essential Functions:
Directs resolving accounts/escalations while evaluating processes for continuous improvement to enhance productivity and quality.
Responsible for the affiliate relationships with the CWS teams and ensuring collaboration and communication occur on Bank programs and upcoming initiatives.
Responsible for managing and enforcing contractual Service Level Agreements between assigned vendors, including CWS and the bank.
Oversees and directs the activities for the compliance management program and Visa and Mastercard bylaws and addresses areas of non-compliance with proper reporting to Bank management.
Directs the activities to ensure engagement with CWS associates and management, allowing feedback and instituting changes to improve the experience of cardholders and associates.
Manages and maintains appropriate documentation for the oversight of vendors as outlined in the Third-Party Risk Management Policy, as well as additional reporting as required.
Directs the team's activities in addressing and supporting CWS audits and managing the resolution of any items requiring remediation.
Conducts periodic on-site visits of affiliate and Third-Party vendors in conjunction with the AVP and VP of Vendor and Process Management to facilitate the proper assessment of risk through the annual review process.
Directs the implementation of the Bank’s policies, procedures, strategies, goals, and values into the operational areas of CWS and assigned vendors.
Oversees adherence to all policies and procedures through managing and directing exception reports and standard monthly operational reports within CWS and Merrick. Escalate any issues for resolution within CWS or the Bank.
Oversees, investigates and participates in complaint processing, handling, and reporting for areas of responsibility.
Directs the team's activities to ensure vendor management activities are tracked and completed related to communication monitoring, escalation management, and process and transaction testing to enhance the customer experience and maintain compliance.
Maintains a thorough knowledge of Bank policies and procedures concerning servicing of cardholders and their accounts.
Builds, drives, leads, and participates in projects or initiatives that improve quality, create efficiency, and reduce cost.
Manages budget activities for the department and makes updates quarterly as needed.
Maintains a thorough knowledge of State and Federal regulations regarding consumer lending and servicing of cardholders and their accounts.
Manages affiliate and third-party providers’ compliance with their policies and applicable laws and demonstrates the reliability and integrity of their data and documentation practices.
Manages and facilitates the relationship and collaboration with the Compliance Department to ensure compliance issues are prioritized, adequately identified, and reported.
Directs the review of both the affiliate and team’s activities that will provide reasonable assurance that controls are designed and operating effectively with a properly established and approved quality process.
All other duties as assigned.
Compliance with Laws & Regulations:
Responsible for complying with the Bank’s internal control policies and procedures.
Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.
Education and Experience:
Bachelors’ degree is required, four (4) years’ experience accepted in lieu of education requirement.
Two (2) years’ experience as a manager with management of external vendors and outsource services is required.
Five (5) years’ experience working with credit card systems and processes, as well as working in a regulated industry is required.
Summary of Qualifications:
Demonstrated ability to investigate and resolve problems that require in-depth analysis independently.
Detail-oriented with strong analytical, communication (verbal and written), problem-solving, organizational skills, and critical thinking.
Communicates effectively both orally and in writing; presents ideas in a clear, concise, understandable and organized manner.
Shows effective planning, organization, time management, and problem-solving skills.
Proven ability to work effectively under pressure. Skill at handling a variety of assignments simultaneously. Flexibility and willingness to work at a rapid pace in strict time frames.
Proficient with Microsoft Office products along with loss mitigation tools and systems.
Our Employee Value Proposition
Competitive Pay, including a Bonus Target or Variable Pay Incentive Program
Benefits Package - Medical, Dental, and Vision (plus much more)
401(k) Plan with Company Match
Short- & Long-Term Disability
Wellness Programs
Group Life and AD&D Insurance
Paid Vacation, Sick Days and Bank Holidays
Employee Engagement Activities including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, Service Recognition
We offer a total rewards package comprised of a competitive base rate of pay, variable pay incentive programs based on the role, and a comprehensive benefit suite. Offered rates of pay are determined based on job-related knowledge, relevant experience, skills, certifications, and geographic location.
We are an equal opportunity employer, and we evaluate qualified applicants without regard to race, color, religion, sex, national origin, disability, veteran status or any other legally protected characteristic. We will conduct a thorough background check for all hires in compliance with applicable laws.
At Merrick Bank, we specialize in credit programs that assist people looking to build or rebuild their credit.
Founded in 1997, Merrick Bank is FDIC insured and recognized as a top 20 credit card issuer in the U.S. In total, we proudly serve nearly 3.4 million cardholders and have extended nearly $6 billion in credit.
We also provide consumer finance options to marine, RV, powersports, horse and utility trailer dealers across the country to help customers find new opportunities to get what they need for recreation.
As a top 12 Merchant Acquirer, Merrick Bank’s merchant business provides support to over 150,000 merchants through approximately 40 independent sales organizations, with over $60B in annual card purchase volume.
We offer a wide range of High-Yield Certificates of Deposit with competitive rates and FDIC insurance up to the maximum allowed by law – as Merrick Bank is extremely well capitalized and poised for continued growth.
#J-18808-Ljbffr