Director of Vendor Management (REMOTE OR MA BASED)

The Hanover Insurance Group•Worcester, MA

3d•Hybrid

About The Position

This is a great opportunity to join a newly formed organization in Claims and join hands with a team of dedicated and experienced P&C Claims professionals to drive the strategy of the Organization and improve the Performance Effectiveness across all Lines of Business. This team leverages a diverse array of experiences and skills to support and enhance the broader claims organization, to uphold our commitment to policyholders while simultaneously increasing our overall effectiveness. This is a full time, exempt role.

Requirements

Bachelor's degree in Business Administration, Supply Chain Management, or a related field.
Proven experience as a Vendor Manager or in a similar role, with 7+ years of experience preferred.
Must be eligible to work in the US without requiring sponsorship now or in the future (ie. US Citizen or Greencard holder)
Strong negotiation and contract management skills.
Excellent communication and interpersonal skills.
Ability to analyze data and make informed decisions.
Ability to work collaboratively with cross-functional teams.
Experience with supplier risk management and compliance concepts.
Experience with contract management and supplier performance metrics.

Responsibilities

Build and maintain strong relationships with vendors to ensure high-quality service and support, acting as the primary point of contact between the company and its vendors.
Manage vendor performance by identifying potential issues and implementing mitigation strategies, conducting regular vendor reviews and assessments.
Collaborate with internal departments to understand their vendor needs, create standards and policies to ensure proper utilization, and ensure alignment with business goals.
Coordinate with The Hanover Procurement organization to negotiate favorable pricing and terms, monitor expenses, and identify opportunities for cost savings.
Work in coordination with Procurement on vendor contracts, ensuring compliance with The Hanover’s Procurement and Third-Party Risk Management (TPRM) policies.
Develop, implement, and maintain governance frameworks to manage vendor relationships effectively, ensuring compliance with legal, regulatory, and company-specific requirements.
Prepare and present reports on vendor performance and cost savings to senior management, utilizing data analysis to make informed decisions.