Vendor Management Specialist

Job Description

Job Description

JOB SUMMARY

We are seeking a detail-oriented and strategic Vendor Management Specialist to own the full lifecycle of Vermont Mutual’s contracting and vendor procurement - drafting, reviewing, and negotiating agreements with vendors and partners, building scalable contracting processes, executing third-party risk management processes, and acting as the connective tissue between Legal, Finance, IT Security, and every team that relies on outside vendors to get their work done. The ideal candidate brings hands-on experience with procurement contracts, thrives in a fast-paced environment where priorities shift quickly, and is energized by building process and structure from the ground up.

DUTIES & RESPONSIBILITIES

• Develop and implement procurement strategies aligned with company goals and regulatory requirements.
• Work in conjunction with each department to own the end-to-end procurement process from initial requisition through vendor selection, negotiation, diligence, security assessment, and invoice payment.

• Analyze the cost structure of vendor bids and proposals to ensure competitive, favorable terms

• Hold responsibility for vendor governance, including performance tracking, third party risk assessment, and renewal or offboarding decisions, including vendor due diligence and ongoing monitoring.

• Collaborate with business units and Legal to streamline contract management processes, identify potential risks, and drive continuous improvement in contract handling
• Track contract renewals, key dates, and obligations, and maintain a clean, current contract repository

• Work cross-functionally to identify and mitigate risks associated with third-party relationships, including data security, financial stability, and regulatory compliance.
• Monitor market trends and pricing to identify cost-saving opportunities.
• Support budgeting and forecasting efforts by providing procurement data and insights.
• Coordinate with Facilities and IT, utilize Oracle, to create purchase orders and monitor status of supplies and deliveries 
• Assist the Director of Finance, Controller and Treasurer with special projects, such as testing applications to automate, accounting systems, compiling information for special reports, and the like.
• Performs other duties or special projects as required or as assigned.

SUPERVISION RECEIVED

Minimal supervision is required from the Director of Finance, Controller or Treasurer, or other senior executives. Receives assignments and is monitored on a weekly or several times a month basis. Performs many routine duties without specific direction. Follows overall standard policies and procedures.

QUALIFICATIONS

• Bachelor’s degree in Business, Finance or related field.
• 3–5 years of experience in vendor or contract management, preferably within the insurance or financial services industry.
• Strong negotiation, organization, and communication skills.
• Experience managing contract databases and third-party risk frameworks.
• Excellent interpersonal skills providing the ability to work effectively with other company personnel, as well as vendors and others outside the company.
• Proficient with PC applications, including Microsoft Outlook, Word and Excel

PHYSCIAL DEMANDS/WORKING CONDITIONS

• Predominately sedentary office position with high frequency of keyboarding/computer work required.
• The physical demands are minimal and typical of similar jobs in comparable organizations.
• The work environment is representative and typical of similar jobs in comparable organizations.

The salary range reflected is a good faith estimate of base pay for the position. In addition to base salary, this role is incentive compensation and benefits eligible, and individual salary will ultimately be determined based on individual experience, skills, qualifications and geographic location.