Role Purpose
The Senior Manager – Vendor & Outsourcing Risk Management owns end-to-end vendor and outsourcing risk management for CapitalXB Finance (CXBF) — an RBI-registered NBFC-Factor — ensuring vendor onboarding, contracting, monitoring and exit are conducted in line with the Board-approved Vendor/Outsourcing Management Policy and the Reserve Bank of India (Non-Banking Financial Companies – Managing Risks in Outsourcing) Directions, 2025. The role runs vendor operations as a first-line function while feeding independent assurance input to Risk and Governance on their dotted-line mandates.
Key Responsibilities
1. Outsourcing Governance & RBI Compliance
- Classify every vendor arrangement as Material or Non-Material Outsourcing under the RBI (NBFC – Managing Risks in Outsourcing) Directions, 2025, and re-assess classification periodically and on trigger events (incident, scope change, ownership change).
- Create, maintain and keep inspection-ready the Central Register of Material Outsourcing Arrangements.
- Ensure every vendor agreement carries the clauses required under the 2025 Directions: regulator/NBFC audit and inspection rights, data confidentiality and security obligations, business continuity/disaster recovery requirements, controls on further sub-contracting, and defined termination/exit and transition-assistance mechanisms.
- Prepare and present the annual outsourcing risk report to the Risk Management Committee/Board, in coordination with the Risk function.
- Act as the primary point of contact for vendor/outsourcing-related items during RBI inspections and internal or statutory audits.
2. Vendor Due Diligence & Risk Tiering
- Own the vendor risk scoring and tiering framework (critical / important / other), setting monitoring frequency by tier.
- Conduct or oversee due diligence on prospective vendors: financial stability, reputation, cybersecurity posture (including the actual scope of SOC 2/ISO certificates, not merely their existence), Udyam/MSME registration status, and conflict-of-interest/related-party declarations.
- Flag related-party vendor arrangements for appropriate Board/Audit Committee visibility per policy.
- Monitor vendor concentration risk across the vendor base and within vendor groups.
- Own exit-management planning for critical/material vendors, including documented alternate-vendor or insourcing paths.
3. Vendor Lifecycle & Contract Management
- Own vendor evaluation, agreement execution, and the periodic review cycle as per the Vendor Management Policy.
- Negotiate and manage contract renewals, SLAs, and commercial terms in partnership with Legal and the requesting department.
- Ensure Business Continuity Plans exist and are periodically tested for critical/material vendors.
4. Compliance Monitoring & Payment Controls
- Monitor outstanding vendor compliance requirements (SOC 2, ISO, insurance, statutory registrations) and enforce timely closure.
- Exercise authority to place vendor payments on hold where compliance requirements are outstanding, per the Vendor Management Policy, and release holds on confirmed compliance.
- Monitor and flag unresolved vendor performance issues; actual escalation ownership remains with the respective Business Unit SPIC/BU Head.
- Oversee MSME-vendor payment compliance (45-day statutory timeline) in partnership with Finance, including data support for MSME-1 disclosure filings.
- Oversee GST reconciliation support (GSTR-2B matching) for vendor invoices affecting input tax credit.
5. VMS & Data Governance
- Own vendor master data governance within the Vendor Management System (VMS) — single source of truth, no duplicate vendor codes, and invoice-to-vendor-master integrity before postings flow to the accounting system (Tally).
- Define and monitor the compliance-document expiry alert workflow within the VMS.
- Supervise the Vendor Management Executive(s)/Coordinator(s) responsible for day-to-day vendor administration and invoice tagging.
6. Stakeholder & Audit Interface
- Partner with Risk on outsourcing-policy interpretation and Material/Non-Material classification sign-off, and with Governance/Compliance on Board-policy adherence.
- Liaise with Internal Audit on outsourcing-related findings and track closure of audit action points.
- Act as the escalation point for department heads and BU SPICs on vendor compliance and documentation matters.
Authority & Decision Rights
- Authority to place and release vendor payment holds for non-compliance, per the Vendor Management Policy.
- Authority to classify vendor arrangements as Material/Non-Material outsourcing, subject to Risk function sign-off for Material classifications.
- No authority over Business Unit-level escalation decisions, which remain with the respective BU SPIC/BU Head.
Pay: ₹40,000.00 - ₹50,000.00 per month
Work Location: In person
