Compliance Officer - Vendor Management

About Us

TBO Bank serves its customers from our hometown location in Orrick, Missouri as well as our newest location in Prairie Village, Kansas. We’ve taken pride in building banking relationships that have spanned decades. Now we’re bringing “the feel” of hometown banking to a broader landscape. Our mission: to connect and empower in a way that is human, relatable and real. As we expand the reach of our relationships, you can feel secure working for a bank that just gets it.

Position Summary/Objective

TBO Bank is seeking a dynamic, self-motivated and knowledgeable Vendor Management specialist to join our team. The ideal candidate should have a strong understanding of banking operations and third-party risk management practices. Under general supervision, this role will perform a broad range of functions related to the bank’s vendor management process while following established policies and procedures and must maintain knowledge of the rules and regulations governing the bank. The main purpose of this role is to execute the bank’s vendor management program and ensuring vendors, service providers, and banking partnerships comply with applicable regulatory requirements, contractual obligations, bank policies, and industry/regulator expectations. This role supports the identification, assessment, monitoring, and ongoing oversight of vendor relationships to minimize operational, compliance, information security, reputational, and financial risks to the bank.

The role works closely with Compliance, Information Technology, Information Security, Operations, Legal, Finance, and business line leaders to ensure vendor relationships align with the bank’s strategic objectives and regulatory expectations.

ESSENTIAL FUNCTIONS

Vendor Oversight & Administration

1. Maintain the bank’s approved vendor inventory and risk rating system.
2. Coordinate onboarding, due diligence, contract review, and approval processes for new vendors.
3. Coordinate ongoing periodic reviews, management, committee and Board level approvals.
4. Monitor vendor performance, service-level agreements (SLAs), and contractual obligations.
5. Ensure appropriate documentation is maintained for all third-party relationships.
6. Track contract renewal dates, termination provisions, and required notices.

Third-Party Risk Management

1. Conduct and document vendor risk assessments based on inherent and residual risk.
2. Review and/or seek subject matter expert opinion on due diligence documents including:
   • SOC reports
   • Financial statements
   • Business continuity and disaster recovery plans
   • Cybersecurity and information security controls
   • Insurance coverage
   • Regulatory compliance documentation
3. Identify elevated-risk vendors and recommend mitigating controls.
4. Coordinate ongoing monitoring activities for critical and high-risk vendors.

Regulatory Compliance

1. Ensure the bank’s vendor management program complies with applicable guidance and regulations, including:
   • FDIC guidance
   • FFIEC third-party risk management guidance
   • Consumer protection regulations
   • Information security requirements
   • Business continuity expectations
2. Prepare reports, summaries, and supporting documentation for auditors and examiners.

Collaboration & Reporting

1. Work with department managers to ensure vendor relationships meet operational needs.
2. Provide periodic reporting to management and committees regarding:
   • Critical vendors
   • High-risk relationships
   • Due diligence status
   • Contract renewals
   • Open risk items
3. Escalate significant vendor issues, control gaps, or performance concerns to management.

Policy & Program Administration

1. Assist with development and maintenance of vendor management policies, procedures, and risk assessment methodologies.
2. Support training initiatives related to third-party risk management.
3. Recommend process improvements to enhance efficiency and regulatory compliance.

Risk Assessment & Monitoring

1. Monitor and assess emerging risks and regulatory developments with timely reporting to stakeholders.
2. Create and maintain control performance, Key Risk Indicators (KRIs), and Key Performance Indicators (KPIs) for senior management and Board review.

Audit & Exam Management

1. Serve as liaison for internal and external audits and regulatory exams in relevant areas.
2. Coordinate document requests, interviews, and response drafting.

Experience and Qualifications

1. Prior experience working in financial services consumer compliance, with emphasis on fintech lending and third-party oversight (BaaS experience).
2. Industry certification (CRCM, CERP, CAMS, etc.) preferred, or a willingness to obtain.
3. Bachelor’s degree in business, Law, Finance, or related field preferred.
4. Experience with third-party risk, operational risk, and/or banking products risk.
5. Proficient in Excel (joining data-sets and reporting).
6. Excellent leadership, communication, and organizational skills.
7. Ability to manage competing priorities in a fast-paced, regulated environment.
8. Strong analytical and data interpretation skills; ability to identify patterns and root causes in complex environments; ability to self-start.

Physical Requirements**

1. Ability to sit or stand for extended periods while working at a desk or computer.
2. Must be able to use a computer and other office equipment (e.g., phone, printer).
3. Ability to communicate effectively in person, via phone, and through written correspondence.
4. Ability to concentrate and focus on tasks for extended periods in a fast-paced environment.

*TBO Bank is proud to have an inclusive culture committed to ensuring equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.

** The physical demands listed are a requirement to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.