Senior Manager, Vendor Management

CVS Health • Woonsocket, RI

2d

About The Position

We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time. Position Summary We have an exciting opportunity at CVS Health for a Sr. Manager, Vendor Management role on the Healthspire Payor Solutions, Strategic Planning team. This critical role requires a broad range of skills and expertise, with experience in vendor sourcing and selection, contract negotiation & management, vendor relationship management, spend analysis and forecasting, budget adherence, invoicing, business needs assessment, risk assessments and vendor performance monitoring. Experience with healthcare vendors, especially PBM, a plus. As a Sr. Manager, you will be responsible for a wide range of vendor management related decisions. The role requires superior analytical, organizational, problem solving, and decision-making skills. To succeed, you will need a balance of strong attention to detail, excellent judgment, initiative, and the ability to manage multiple priorities at once. You will work closely with other Payor Solutions business units to determine vendor need, maximize value and identify/deliver cost savings opportunities. You will also collaborate with a variety of stakeholders to support data analysis and reporting needs, provide business insights, and make strategic recommendations to enhance vendor integration within our product suite. This Manager will report to the Ld. Dir. Strategic Planning, interfacing with many internal and external teams and will be responsible for ensuring best in class vendor and business partner relationship management.

Requirements

• 7+ years of work experience in healthcare services, medical device management, or healthcare consulting (graduate level education may substitute for experience).
• 7+ years of work experience in vendor management and/or procurement with budget responsibility.

Nice To Haves

• Work experience in CVS Health or other healthcare organization of similar size and/or complexity.
• Certified Professional Vendor Manager (CPVM) or commensurate work experience.
• Strong data analysis and business report development skills (Highly proficient in PowerPoint and Excel).
• Strategic mindset, adept at problem solving and critical decision-making.
• Strong collaboration and teamwork focus.
• Self-starter with continuous learning approach, interested in personal & team skills development .
• Able to execute and deliver high-quality results in a matrixed & deadline-oriented environment.

Responsibilities

• Partner with Healthspire Product Innovation and Delivery (PID) business units to understand and determine client, stakeholder and member needs.
• Perform continuous market analysis on available suppliers, solutions, devices and services in collaboration with Enterprise Procurement, to meet business needs.
• Partner with Procurement, Legal and Privacy to ensure vendors meet all necessary requirements for on-boarding and contract adherence.
• Ensure alignment with Enterprise preferred vendor list and contract terms and conditions (SLAs/PGs, etc.) in support of audit requirements.
• Support business needs and coordinate with procurement to facilitate RFPs.
• Develop forward-thinking enhancements to the supplier selection process.
• Build, manage, and grow strategic vendor relationships to achieve vendor spending targets, growth & performance metrics, and alignment with business objectives.
• Resolve escalated vendor performance issues as they arise, providing business input, articulating conclusions, and making recommendations to the leadership team.
• Facilitate contract renewals and renegotiation of terms and conditions to maximize value.
• Collaborate with Finance and Business Partners to enforce invoicing and reconciliation processes to drive budget adherence.
• Design and institute cost management methods that optimize spend and identify opportunities for cost savings without compromising quality or service delivery.
• Manage vendor-related risks to minimize potential negative impacts on the organization's operations and reputation.
• Facilitate security risk assessments to identify and proactively mitigate vendor gaps.
• Coordinates with stakeholders, including internal teams and senior management, to provide updates on vendor performance.
• Implement systems that monitor vendor performance against agreed-upon metrics and key performance indicators (KPIs) to ensure contractual obligations are met.
• Evaluation vendor performance and perform vendor ranking and scorecarding.
• Prepare analysis, reporting and presentations for business leaders in a way that adds value, is easily understood, and achieves alignment on path forward.

Benefits

• Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.
• No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.
• Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.

What This Job Offers

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