We study Hecke operators on vector-valued modular forms for the Weil
representation ρL of a lattice L. We first construct Hecke operators
Tr that map vector-valued modular forms of type ρL into
vector-valued modular forms of type ρL(r), where L(r) is the lattice
L with rescaled bilinear form (⋅,⋅)r=r(⋅,⋅), by
lifting standard Hecke operators for scalar-valued modular forms using Siegel
theta functions. The components of the vector-valued Hecke operators
Tr have appeared in [Comm. Math. Phys. 350 (2017), 1069-1121] as
generating functions for D4-D2-D0 bound states on K3-fibered Calabi-Yau
threefolds. We study algebraic relations satisfied by the Hecke operators
Tr. In the particular case when r=n2 for some positive integer
n, we compose Tn2 with a projection operator to construct new
Hecke operators Hn2 that map vector-valued modular forms of
type ρL into vector-valued modular forms of the same type. We study
algebraic relations satisfied by the operators Hn2, and compare
our operators with the alternative construction of Bruinier-Stein [Math. Z. 264
(2010), 249-270] and Stein [Funct. Approx. Comment. Math. 52 (2015), 229-252]