Vendor Management, Sourcing Specialist

This is a fully remote position, open to applicants in United States.

📋 Description

• Oversee the complete sourcing process, encompassing needs assessment, market analysis, RFx creation and management, bid evaluation, and vendor selection recommendation documentation.

• Perform spend analysis and competitive benchmarking to uncover opportunities for cost savings, consolidation, and renegotiation.

• Create comparison matrices, analyses of commercial terms, and summaries for leadership recommendations.

• Assist in contract negotiations by conducting pre-negotiation research, identifying risks, analyzing historical contracts, and advising on advantageous positions.

• Review operational expense invoices, flagging discrepancies, out-of-scope charges, and potential savings.

• Keep precise vendor tracking records, including spending data, pipeline information, and vendor details.

• Develop sourcing templates, standard operating procedures, and playbooks.

• Act as the main point of contact for active Claims vendors on a daily basis.

• Organize quarterly stewardship meetings, which include preparing agendas, performance metrics, and tracking follow-ups.

• Monitor vendor scorecard performance and report any gaps to the Senior Manager.

• Maintain the Issues & Escalations log from identification to resolution.

• Manage vendor onboarding paperwork, including W-9 forms, insurance certificates, compliance certifications, and NDAs.

• Collaborate with Claims leadership and the Legal team on contract compliance, regulatory audit coordination, and enforcement of billing guidelines.

• Support the oversight of defense counsel panels, including tracking expenditures and coordinating stewardship meetings.

⛳️ Requirements

• A high school diploma or GED is mandatory.

• A Bachelor’s degree in business, finance, supply chain, or a related field is preferred.

• At least 4 years of combined experience in vendor management, strategic sourcing, procurement, or a similar role.

• Proven capability in both sourcing execution and managing vendor relationships.

• Direct experience in workers’ compensation or commercial lines insurance is essential.

• Familiarity with the claims lifecycle, vendor ecosystem, and cost drivers is required.

• Demonstrated ability to independently execute RFx development, spend analysis, bid evaluation, and vendor selection.

• Experience in managing vendor relationships and performance, including stewardship meetings, scorecard monitoring, and escalation handling.

• Knowledge of contract review, analysis of commercial terms, and negotiation assistance.

• Must reside and work within the United States (excluding territories).

• Access to reliable, high-speed internet is necessary.

🏝️ Benefits

• Competitive cash compensation.

• Comprehensive health plans.

• Generous paid time off (PTO).

• Future-oriented 401k matching.

• Generous parental and caregiver leave.

• Potential discretionary bonuses for eligible team members.