Sourcing & Vendor Manager

About Reserv

Reserv is an insurtech creating and incubating cutting-edge AI and automation technology to bring efficiency and simplicity to claims. Founded by insurtech veterans with deep experience in SaaS and digital claims, Reserv is venture-backed by Bain Capital and Altai Ventures and began operations in May 2022. We are focused on automating highly manual tasks to tackle long-standing problems in claims and set a new standard for TPAs, insurance technology providers, and adjusters alike. We have ambitious (but attainable!) goals and need people who can work in an evolving environment. If building a leading TPA and the prospect of tackling the long-standing challenges of the claims role sounds exciting, we can't wait to meet you.

About the role

As a Vendor Manager at Reserv, you will play a pivotal role in building and managing relationships with key vendors, ensuring seamless delivery of services that align with our operational goals and customer expectations. You'll oversee the end-to-end vendor lifecycle, including selection, negotiation, performance monitoring, and compliance management. Collaborating across teams, you'll drive value by optimizing vendor partnerships, streamlining processes, and maintaining high standards of service. This role offers a unique opportunity to shape how we engage with our vendor ecosystem in support of delivering innovative insurance solutions.

Who you are
• Experienced in vendor management, procurement, or operational roles, preferably within the insurance, technology, or TPA sectors.
• Skilled in negotiating contracts and securing mutually beneficial agreements with vendors.
• Proficient in analyzing data to evaluate vendor performance and inform strategic decisions.
• Adept at building and maintaining strong relationships with vendors and internal stakeholders.
• Knowledgeable about regulatory and compliance standards to ensure vendor adherence.
• Highly organized, with the ability to manage multiple vendors and complex projects efficiently.
• Focused on delivering exceptional service and ensuring vendors meet customer-centric objectives.
• Flexible and adaptable to thrive in a fast-paced, evolving environment.

What you'll do

We need you to do all the things typical to the role:
• Lead the execution of the vendor strategy, including vendor selection, onboarding, and ongoing management
• Ensure compliance with licensing, contracts, credentials, and performance standards for multiple vendors
• Maintain robust vendor documentation to track critical information and standard operating procedures (SOPs)
• Collaborate with claims leadership and clients to develop, refine, and implement comprehensive standard operating procedures (SOPs) for vendors; update SOPs to meet evolving business and customer needs
• Partner with business stakeholders to formulate a cohesive vendor strategy aligning with company objectives
• Proactively engage with internal stakeholders, particularly Claims leadership, to gather feedback on claims processes as they relate to vendor engagement by adjusters
• Continuously evaluate and enhance vendor engagement processes, making them as seamless and efficient as possible for the adjusting team.
• Implement automation and technology solutions to streamline workflows
• Conduct comprehensive assessments of potential new vendors, including due diligence and risk analysis.
• Provide data-driven recommendations to Claims leadership for vendor selection and contract negotiation.
• Develop, implement, and manage a Vendor Quality Assurance (QA) program to ensure vendors meet or exceed contractual SLAs and KPIs; conduct audits, and hold vendors accountable for service delivery
• Own the vendor billing process, ensuring accurate and timely payments to partners; reconcile vendor invoices and claim expenses
• Monitor vendor costs and recommend cost-saving measures
• Stay up-to-date with industry regulations and ensure vendor activities align with compliance requirements

Qualifications
• Bachelor's degree in business administration, supply chain management, or a related field preferred
• Minimum of 5 years of experience in vendor management, procurement, or operations, preferably within the insurance, technology, or TPA sectors.
• Proven expertise in negotiating vendor contracts and managing supplier relationships to drive value and efficiency.
• Strong understanding of regulatory and compliance requirements within the insurance and TPA industries.
• Proficiency in vendor management systems and related technologies, with an aptitude for leveraging data to evaluate performance.
• Exceptional project management skills to coordinate multiple vendors and ensure timely and quality service delivery.
• Effective communication and interpersonal skills to collaborate with internal teams and external partners.
• Results-driven and adaptable, with the ability to thrive in a fast-paced, evolving environment.

Benefits

• Generous health-insurance package with nationwide coverage, vision, & dental
• 401(k) retirement plan with employer matching
• Competitive PTO policy - we want our employees fresh, healthy, happy, and energized!
• Generous family leave policy after 8 months of continuous work
• Work from anywhere to facilitate your work life balance
• Apple laptop, large second monitor, and other quality-of-life equipment you may want. Technology is something that should make your life easier, not harder!

Additionally, we will

• Listen to your feedback to enhance and improve upon the long-standing challenges of an adjuster and the claims role
• Work toward reducing and eliminating all the administrative work from an adjuster role
• Foster a culture of empathy, transparency, and empowerment in a remote-first environment

At Reserv, we value diversity in backgrounds, perspectives, and life experiences and believe that diversity in viewpoints and critical thinking drives innovation, first-principles thinking, and success. We welcome applicants from all backgrounds and encourage those from all walks of life to apply. If you believe you are a good fit for this role, we would love to hear from you!