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How much do vendor management analyst jobs pay per hour?

As of Jul 17, 2026, the average hourly pay for vendor management analyst in the United States is $38.72, according to ZipRecruiter salary data. Most workers in this role earn between $31.01 and $45.91 per hour, depending on experience, location, and employer.

What is the difference between Vendor Management Analyst vs Procurement Specialist?

AspectVendor Management AnalystProcurement Specialist
CredentialsBachelor's degree, certifications like CPSM or C.P.M.Bachelor's degree, certifications like CPSM or C.P.M.
Work EnvironmentCorporate offices, vendor management teamsProcurement departments, supply chain teams
Employer & IndustryVarious industries including tech, manufacturing, servicesManufacturing, retail, government agencies
Search & Comparison IntentUnderstanding vendor relationships, contract managementPurchasing goods/services, supplier negotiations

The Vendor Management Analyst and Procurement Specialist roles share similar credentials and work environments but focus on different aspects of supply chain management. The analyst primarily manages vendor relationships and contracts, while the procurement specialist handles purchasing and supplier negotiations. Both roles are vital in ensuring efficient supply chain operations across industries.

What is a Vendor Management Analyst?

A Vendor Management Analyst is a professional responsible for overseeing and optimizing relationships with third-party suppliers or vendors. They evaluate vendor performance, negotiate contracts, analyze costs, and ensure that vendors meet company standards and compliance requirements. Their role often includes risk management, process improvement, and working closely with internal teams to ensure that vendor services align with business objectives. By maintaining strong vendor relationships, they help organizations reduce costs, increase efficiency, and ensure quality service delivery.

What does a vendor management analyst do?

A vendor management analyst is responsible for overseeing and optimizing relationships with suppliers and service providers. They evaluate vendor performance, negotiate contracts, ensure compliance, and use tools like vendor management systems to improve procurement processes. Strong analytical skills and knowledge of contract management are essential for this role.

What skills are needed for vendor management?

Vendor Management Analysts need strong communication, negotiation, and relationship management skills to effectively coordinate with suppliers and internal teams. They should also have analytical abilities, proficiency with vendor management tools, and a good understanding of contract terms and procurement processes.

What jobs can I get with CIPs level 4?

A Vendor Management Analyst with CIPs Level 4 certification can pursue roles such as vendor risk analyst, compliance specialist, or procurement coordinator. These positions often require knowledge of cybersecurity standards, risk assessment, and vendor relationship management, and may involve working with tools like GRC platforms or audit frameworks.

What are the key skills and qualifications needed to thrive as a Vendor Management Analyst, and why are they important?

To thrive as a Vendor Management Analyst, you need strong analytical skills, attention to detail, and a background in business, supply chain management, or a related field. Familiarity with vendor management systems (VMS), contract management software, and data analysis tools like Excel or Tableau is often required. Excellent negotiation, relationship-building, and communication skills help you effectively collaborate with vendors and internal stakeholders. These skills are crucial for optimizing vendor performance, minimizing risks, and ensuring cost-effective procurement processes.

How much do vendor managers make in the US?

Vendor Management Analysts in the US typically earn between $60,000 and $100,000 annually, with the median salary around $75,000. Salaries vary based on experience, industry, location, and certifications such as Certified Vendor Management Professional (CVMP).

How does a Vendor Management Analyst typically collaborate with internal departments to ensure effective vendor performance?

A Vendor Management Analyst works closely with various internal teams such as procurement, legal, finance, and IT to ensure vendors meet contractual obligations and performance standards. They often facilitate communication between departments and vendors, coordinate regular performance reviews, and address any issues or escalations that arise. This collaboration helps streamline processes, manage risks, and ensure that the organization receives optimal value from its external partnerships.
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Vendor Management Analyst jobs near you
ERP Vendor Management Analyst

ERP Vendor Management Analyst

Federal Reserve Bank of Richmond

Minneapolis, MN • On-site

Full-time

Posted 3 days ago

Job description

CompanyFederal Reserve Bank of Kansas CityWhen you join the Federal Reserve-the nation's central bank-you'll play a key role, collaborating with leading professionals to strengthen and protect our economic, financial and payments systems. We invest in contemporary and emerging technology each year to support the Federal Reserve and our economy, and we're building a dynamic and diverse team for our future.

TheEnterprise Resource Planning Support Office's(ESO)Vendor Manager is a strategic and operational leader responsible for the fullsupplierlifecycleand service deliveryof third-party vendor management across allERPplatforms and services.Thisentailsestablishingand drivingvendor relationship management, contract negotiation, riskand spendmonitoring, and performance measurement practices to ensure alignment withtheFederal ReserveSystemVendorManagementFrameworkand service-level expectations.This individualpartners closely withtheERPbusinessproductteams,System Procurement,and the Richmond Fedprocurement,legal, risk, and financeareastosupport the overall supplier lifecycle and toensure vendors deliver expected value and performance.

Key Activities

  • Performs work under limited supervision with extensive autonomy and discretion; plans and arranges short and long-term workfor the vendor management function in alignment with the organization's overall businessobjectives. Influences timelines, expectations and proactively negotiates within theERP organization.

  • Communicatesand influences internal and external stakeholdersat an operational and strategic levelregardingpolicies, procedures, and practices.

Vendor Strategy

  • Effectively manage and develop thevendormanagement process and strategiesfor the ESO, aligning withlocal andSystempoliciesand industry best practices.

  • Implement scalable best practicesforvendor management lifecycle activities including onboarding, offboarding, contractoversight, performance monitoring,andrisk management.

Relationship and Performance Management

  • Serve as the primary relationship manager forall ERP vendors.

  • Lead and organizebusinessreviewswith key vendors,business product stakeholders, and leadership.

  • Monitor and evaluate vendor performance against SLAs, KPIs, and business outcomes.

  • Partner with enterprise risk, information security,and compliance teams to supportvendor managementauditsand/or third-party providerrisk assessments and regulatory inquiries.

  • Performand accountable forongoingservice deliveryactivitiesthrough the establishment ofvendor management plans includingrelationship management, risk assessment,mitigation,risk monitoring and control,performance scorecardandimprovementplans,contingencyandcrisis management,andleadership and delivery tracking meetings.

Contractand Financial Management

  • Act as the primary point of contactrepresentingthe business during the sourcing and procurement stages of the supplier lifecycle.In collaboration with the National/Local Procurement Office, ensure adherence to and provide support forcomplying withSystem Procurement standards and Model Acquisition Guidelines.

  • Collaborate withSystemProcurement,legal, information securityandbusiness line(s) stakeholders whenestablishingnew and/orrenewed contract terms and purchase orderstoensure all contractual terms and conditionscomply withFRSstandardsand meet the needs of the business.

  • Establish negotiation strategies that result in cost savings and favorable terms and conditions while minimizing risk.

  • Supportand/or author Statement of Work (SOW)for services agreements. Verifyperformance to each SOW, adherence to timelines, cost management, change control,and corrective actions, as necessary.

  • Manage contract renewals, amendments, and service-level agreements.

  • Monitorthe ESO's software budget,monitorvendor spend and cost effectivenessincluding product usage and cost trend analysis tosupport budgeting and forecasting activities;validateandensurevendor invoicesare processed in alignments withthe applicable contract terms to ensure compliance.

  • Monitor vendors' adherence to agreement terms, commitments, and terms and conditions.

  • Develop, support, and track reporting requirements - Key Performance Indicators (KPIs), Key Risk Indicators (KRIs), andcontractual obligations including entitlement usage and trendanaylsisanalysisfor technology vendors.

LeadershipandOutreach

  • Participate inlocaland Systemworkgroups and communities of practiceto address complex, multi-functionalinitiatives,issues, problems, or opportunities for technology vendors.

  • Supervise and develop Analysts/Specialistssupporting vendor management work; assign workload and provide coaching and development opportunities.

  • Champion a culture of continuous improvement and accountability within the vendor management functionand across the ERP.

Qualifications

Education and Experience

  • Bachelor's degree in Business, Supply Chain, Finance, or related field (Master'spreferred).

  • 7-10 years of relevant experience in vendor management, strategic sourcing, procurement, or supplier governance.

  • Demonstrated experiencemanaginghigh-value, complexthird-party/external vendorportfolios and relationships.

  • Additionalexperience should include subcontracting, e-sourcing systems,understanding ofmarket-based and cost-based pricingstructures and negotiation strategies.

Skills and Competencies

  • Strong understanding ofvendor management best practices, industry trends, andthird-party risk management principles and regulatory considerations.

  • Excellent negotiation, contractmanagement, and vendor relationship management skillsincluding:performance monitoring, problem resolution, and risk management.

  • Proficient inestablishingperformance analyticsand spend management and monitoring practices, with ability to interpret and act on SLAs,KPIs, and trend analysis.

  • Effective communicator with ability to influence senior stakeholders and vendors.

  • Strategic thinker with stronganalytical, organizational, andproject management skills.

  • Prudent judgment and decision-making, as well as a creative approach to problem solving.

  • Strong interpersonal skills and ability to work with and build relationships with individuals at all levels of the organization.

  • Proficient inMicrosoft Office 365 andvendor management or procurement systems.

Additional Information

How We Work:

  • On-site, full-time with 5 days per month remote work flexibility. Requirements vary by district.

  • Locations: Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St Louis, Minneapolis, Kansas City, Dallas, San Francisco

  • Remote Eligible: No

  • Relocation Assistance: No

Salary:

  • $94.600 - 122,400 / Senior Level

  • $108,000 - 139,800 / Advanced Level

  • $127,900 - 165,600 / Expert-Lead Level

  • Final offers are determined by factors including the candidate's qualifications, internal alignment considerations, district assignment, and geographic location.

Screening Requirements: Certain eligibility requirements may apply.

Sponsorship: The Federal Reserve Bank of Kansas City will not sponsor a new applicant for employment authorization for this position. Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future.

About Us

  • Total Rewards & Benefits

  • Who We Are

  • What We Do

Follow us on LinkedIn, Instagram, X (formerly Twitter), and YouTube

Full Time / Part TimeFull timeRegular / TemporaryRegularJob Exempt (Yes / No)YesJob CategoryInformation Technology Family GroupWork ShiftFirst (United States of America)

The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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