Vendor Manager

This is a fully remote position, open to applicants in Alabama, +28 more states.

📋 Description

• Serve as a liaison among various business lines, operations teams, and vendors to manage third-party relationships.

• Oversee vendor relationships and contracts across diverse service categories.

• Spearhead intricate negotiations and strategic planning initiatives.

• Perform vendor risk assessments and conduct due diligence processes.

• Ensure compliance of vendors with regulatory requirements, industry standards, and Marsh policies.

• Maintain comprehensive vendor databases, risk documentation, scorecards, escalation procedures, SLAs, and performance benchmarks.

• Monitor vendor performance and devise process improvement strategies.

• Facilitate business reviews and performance discussions with primary vendors.

• Act as a point of escalation for dispute resolution and vendor-related business challenges.

• Collaborate with procurement, legal, compliance, risk management, technology, accounts payable, and business teams.

• Identify opportunities for vendor consolidation, cost efficiencies, process standardization, automation, and analytical advancements.

• Develop and manage communication plans and change management controls.

• Review, redline, negotiate, and oversee the entire lifecycle of contracts, MSAs, and SOWs.

• Create and manage contract summaries, risk evaluations, and spend approvals.

• Assist in vendor selection, evaluation, sourcing, and vendor landscape analysis.

• Analyze vendor expenditures, performance, risk status, cost savings, trends, and opportunities.

• Prepare ad-hoc reports and present portfolio metrics and risk trend insights to leadership.

⛳️ Requirements

• A minimum of 3 years of experience in vendor management, procurement, or contract management.

• Proven strong negotiation and contract management capabilities.

• Familiarity with service level agreements (SLAs), performance metrics, and contract lifecycle management.

• Experience in conducting vendor risk assessments and third-party due diligence.

• Understanding of risk analysis methodologies and the ability to assess vendors across various risk dimensions.

• Experience managing vendor portfolios spanning multiple service categories or business functions.

• Knowledge of legal and regulatory requirements pertinent to vendor management, procurement, and third-party risk.

• Proactive, self-motivated mindset with the ability to take initiative and deliver results.

• Capability to research and resolve issues independently.

• Outstanding verbal and written communication skills, with the ability to express ideas clearly to leadership.

• Keen attention to detail and exceptional organizational skills.

• Proficient multitasking abilities with a sense of urgency and effective prioritization skills.

• Proficiency in Microsoft Office and data analysis tools; eagerness to learn vendor management software systems.

• Critical thinking and analytical skills to comprehend complex material, assess risk, and provide strategic recommendations.

• Experience in contract drafting, review, and redlining with a focus on risk mitigation is advantageous, though not mandatory.

• Experience with Contract Lifecycle Management (CLM) platforms is a plus, but not essential.

• Strong understanding of third-party risk management frameworks and lifecycle management is a plus, but not essential.

• Familiarity with risk assessment tools and methodologies is beneficial, but not required.

• Background in managing vendors within technology, professional services, staffing, or business process outsourcing categories is advantageous, but not required.

• Experience in the insurance industry or with insurance-related vendors and service providers is a plus, but not required.

• Willingness to travel as needed for meetings is a plus, but not required.

🏝️ Benefits

• Generous time off, including personal and volunteering days.

• Tuition reimbursement and opportunities for professional development.

• Remote work options with occasional travel required.

• Charitable contribution matching programs.

• Opportunities for stock purchases.

• Comprehensive health and welfare benefits.

• 401K savings plan and other retirement programs.

• Employee assistance programs.

• Competitive total rewards package.