Sourcing & Vendor Management Director (Insurance)

Group 1001 • Zionsville, IN

396d • $130,000 - $150,000

About The Position

The Sourcing and Vendor Management Director at Group 1001 is responsible for leading procurement strategies and managing vendor relationships to optimize value and minimize risks across the supply chain. This individual contributor role requires a strategic thinker with extensive experience in sourcing and vendor management, particularly in Insurance Underwriting and Operations Services.

Requirements

• Bachelor's degree in Business, Supply Chain Management, Finance, or a related field; Master's degree or relevant certifications (e.g., CPSM, CSCP) preferred.
• Minimum of 8 years of experience in sourcing and procurement with a proven ability to deliver results in complex negotiations and contracts.
• Strong background in managing contracts, including Insurance Underwriting Agreements, Managed Services, TPAs, MSAs, and SOWs.
• Demonstrated ability to independently manage complex projects and prioritize effectively in a dynamic environment.
• Exceptional negotiation and analytical skills, with expertise in procurement software and e-procurement systems.
• Outstanding communication and relationship-building abilities to engage and influence stakeholders effectively.
• A commitment to ethical procurement standards and the ability to navigate global supply chain risks.

Responsibilities

• Lead and execute the procurement process, including Insurance Underwriting supplier selection, contract negotiation, cost management, and quality assurance.
• Independently analyze and calculate procurement costs while recommending methods to achieve savings.
• Develop and implement negotiation strategies that secure profitable agreements.
• Design and refine sourcing procedures to ensure operational efficiency and effectiveness.
• Collaborate with cross-functional stakeholders (Legal, Risk, Finance, etc.) to align on terms and processes.
• Conduct market research to anticipate vendor dynamics and shifts in negotiating power.
• Perform detailed cost and scenario analyses and provide actionable insights.
• Assess supply chain risks and apply mitigating strategies.
• Identify and cultivate partnerships with suppliers who align with Group 1001's values and business objectives.
• Serve as a trusted partner across departments, providing expertise in procurement needs, alignment with business goals, and vendor performance oversight.
• Maintain a deep understanding of market trends to uncover opportunities for cost optimization and risk management.

Benefits

• Comprehensive health, dental, and vision insurance plan options.
• Basic and Supplemental Life Insurance.
• Short and Long-Term Disability.
• Employee Assistance Program and other wellness initiatives.
• 401K plan with matching contributions by the Company.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree