Procurement Analyst

Arch Insurance Group Inc. • Jersey City, NJ

3d • $80,000 - $107,000 • Hybrid

About The Position

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠. Job Profile Summary We are seeking a self-motivated individual to join our corporate procurement team. This position follows a hybrid work model, combining remote work with an in-office presence. The candidates should be located within a reasonable commuting distance of the following locations Greensboro, NC; Raleigh, NC; White Plains, NY; Jersey City, New Jersey. Regular on-site attendance will be required as part of the role. This position is best suited for an individual with the ability to lead a variety of tasks and to support business units across Arch. Job Description Reporting directly to the Director of Procurement, the Procurement Analyst will work as part of the team assisting with all aspects of the end-to-end procurement process supporting the strategic sourcing and vendor management functions by providing data-driven insights, market analysis, and commercial evaluation to optimize procurement performance. This role partners with internal stakeholders to drive cost efficiency and ensure compliance with procurement policies.

Requirements

• Sourcing and procuring experience with a broad variety of suppliers, including IT, software, professional services, and insurance specific data/service providers
• Proficient in Microsoft Office Suite with advanced knowledge of Excel
• Strong oral and written communication skills
• Exceptional customer service and communication skills, strong organizational and problem-solving skills
• A high degree of personal and professional integrity; be customer focused (internal and external); takes initiative; can quickly grasp new concepts; is organized and thorough; can multi-task and manage workload; pays close attention to detail; proactive
• The ability to prioritize, follow through with assigned tasks efficiently and accurately
• 3+ Years experience in procurement or related field
• Bachelor’s degree preferred or 5+ years’ experience sourcing and procuring

Nice To Haves

• Experience with a multi-national insurance company or similar financial services business
• Experience supporting internal investment teams and/or IT teams
• Experience with data privacy and/or information security requirements

Responsibilities

• Assisting with the sourcing and onboarding of new vendors, ensuring adherence of all policies and procedures
• Working collaboratively across business units and entities to gather requirements and prepare Requests for Proposals or Information
• Identifying, evaluating, and selecting reliable suppliers while negotiating contracts and pricing to secure optimal commercial terms.
• Ensuring commercial terms align with company procurement policies
• Analyzing vendor proposals and preparation of competitive analysis for internal review with stakeholders
• Assist in contract lifecycle management, including renewal tracking
• Developing reports to analyze spending and vendor performance including trends and key metrics
• Partner with IT, Legal, Finance and Business Units to align procurement strategies with business objectives
• Assist with special projects as assigned

Benefits

• multiple medical plans plus dental, vision and prescription drug coverage
• a competitive 401k with generous matching
• PTO beginning at 20 days per year
• up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer
• basic Life and AD&D Insurance as well as Short and Long-Term Disability
• Paid Parental Leave of up to 10 weeks
• Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level