Case Study: First Citizens Bank gains compliance and workforce visibility with VectorVMS

First Citizens Bank Gains Visibility into Growing Contingent Workforce

First Citizens Bank, a large financial services institution, faced challenges scaling its manual systems for managing a growing contingent workforce. Their decentralized, spreadsheet-based processes lacked the visibility needed for strategic headcount and spend planning and could not efficiently handle complex compliance requirements. To address this, the bank engaged VectorVMS to implement its vendor management system (VMS) and shared managed services.

By deploying the VectorVMS platform, the bank automated compliance and centralized its contingent labor data, gaining granular visibility into spend across positions, locations, and suppliers. This enabled strategic decisions, such as implementing a tiered supplier system, which led to faster hiring at more competitive rates. The dedicated program manager from VectorVMS provides ongoing support, conducts vendor audits, and develops key performance indicators, ensuring the program remains efficient, cost-controlled, and compliant as the bank continues to grow.

First Citizens Bank

Chuck Lotz

SVP, Director of Talent Acquisition