VP, Vendor Management Leader
Jersey City, NJ, USA | Leading Insurance - General Company
Industry:Insurance - General
Functions:Financial Services Professional
Job Description:55 people have viewed this job
Leading Insurance - General Company Claims manages over $1 Billion in annual allocated loss adjustment expense, primarily in the areas of legal and non-legal services.The VP, Vendor Management Leader will be responsible for defining and executing upon the Leading Insurance - General Company Claims Vendor Management global strategy. This includes establishing the optimal vendor management structure, setting key priorities, and designing and managing critical vendor management initiatives. The key objectives are to establish a best-in-class vendor management program including significant cost reduction, improved quality and service levels, disciplined vendor performance management, and decreased risk through vendor agreements and programs. This global position will report to the Senior Vice President, Chief Services & Operations Officer.
This role will:
Drive strategic planning and execution for vendor management initiatives across Leading Insurance - General Company, including vendor performance management, vendor compliance and cost optimization.
Define and execute on the vendor management structure and team that enables a cost effective program that maximizes performance and savings without compromising service levels and customer experience.
Effectively lead teams and drive execution; cultivate a work environment that promotes strong performance, diversity and inclusion.
Bring strategic thought leadership to the business to drive continuous improvement and identify additional cost and vendor performance opportunities.
Drive innovative thinking and non-traditional approaches to enhance vendor management capabilities and results.
Lead development and execution of all claims vendor related functions including spend analysis, RFP development and execution, contract execution and vendor transitions.
Partner with Corporate Procurement, Legal, Finance and business partners to leverage Leading Insurance - General Company’s scale, ensure compliance, and optimize service terms and cost.
Conduct annual review, analysis, and refinement of legal and non-legal vendor panels to optimize utilization, performance and expense.
Develop standardized metric reporting enables monitoring performance against goals.
Enhance, lead and execute vendor performance management program including vendor reviews, scorecard management, contract compliance, issue resolution and service delivery.
Utilize technology, analytics and digital capabilities to lower the cost of doing business and enhance the user experience for Leading Insurance - General Company, their customers, and business partners.
Provide market insights to drive both short and long-term vendor management strategies.
Provide oversight, communication and lead change management with multiple levels of staff and departments.
Bachelor's Degree in related field - advanced degree a plus.
7+ years of management and leadership experience including the ability to drive high performing teams and execution of complex strategic initiatives.
Minimum of five years of experience in strategic sourcing, building a vendor management program, or managing large, complex vendor relationships; preferably for a financial services/insurance company.
Experience in managing service provider relationships and large contracts.
Excellent verbal and written communication skills with the ability to interact with senior executives and articulate complex ideas in easy to understand business terms.
Proven ability to create and implement strategic planning and direction while delivering on results.
Strong analytical and interpersonal skills, proven ability to navigate, influence, and negotiate matrix reporting relationships
Strong negotiation and problem resolution skills.
Interact effectively with stakeholders and executives across business and functional operations.