Sr. Manager, Supplier & Contract Management

Thomson Reuters Corporation•Eagan, MN

46d•Hybrid

About The Position

As an integral part of the Supplier & Contract Management leadership team, the position is responsible for ensuring the delivery of some of Thomson Reuters' most important global contracts and third-party supplier relationships through rigorous governance in order to achieve maximum value for investment and to optimize 360-degree relationships (buy from, sell to, partner with). The Sr. Manager, Supplier & Contract Management performs the ongoing and daily activities for managing global contracts that provide application development and maintenance (ADM) services. In this opportunity as a Sr. Manager, Supplier & Contract Management, you will: Ensure the delivery of contracted ADM services supporting both critical internal business applications and/or customer-facing applications including Thomson Reuters' flagship products Act as Thomson Reuters' subject matter expert for assigned supplier contracts Act as an escalation point on supplier matters, liaising with and advising the business and TR senior leaders as necessary, to achieve the best outcome for Thomson Reuters Manage and negotiate to resolve major disputes, including on SLAs, unit rates, and contract compliance, to minimize commercial leakage and risk while sustaining healthy partnerships with suppliers Control costs and limit financial risk and exposure through managing contracts and negotiating contract changes and settlements Ensure contract deliverables and obligations, as well as stakeholder expectations, are met using Obligation Management practices and tools Diagnose supplier performance and compliance issues relating to the contract, as well as recommend options and secure buy-in for plans to improve supplier performance/compliance Manage, draft, redline, and negotiate contract changes including amendments and change requests and secure internal buy-in/approvals Implement a methodology for price and performance benchmarking to ensure agreements remain commercially optimized over time Implement best practice contract and commercial governance to reduce value leakage and erosion including adoption of a commercial issues log and leading contract and commercial governance meetings Support 360-degree supplier relationship assessments and efforts (buy-from, sell-to and partner-with) Drive creation of formal supplier strategies in coordination with the business, stakeholders and senior leaders Support Executive Business Review meetings and planning to align executives of Thomson Reuters and our most important suppliers on how to optimize the 360-degree relationship (buy-from, sell-to, partner-with) Represent Supplier & Contract Management in operational/service management governance forums with strategic suppliers Manage contract terminations for cost-efficient and successful contract exits Manage a small team (1-3) of direct reports

Requirements

Advanced negotiation and contract drafting skills, familiarity with contract and commercial management methodology, and a demonstrated track record of working ethically to achieve excellent outcomes
Advanced fluency in contract terminology (including legal and business terms and SLAs) and ability to master highly complex contracts
Rigorous attention to detail, expert analytics, advanced ability to interpret contract terms and conditions and advise and make recommendations
Strong business acumen with ability to navigate and analyze complex commercials of a deal
Strong ability to manage a varied range of stakeholders
Excellent (external and internal) relationship management
Excellent written and verbal communication skills
Advanced strategic thinking and communications skills
Advanced skills in Microsoft Office Suite including Word, Excel, and PowerPoint, as well as SharePoint and Teams
Eager to embrace AI tooling
Advanced project management skills and the ability to drive supplier and stakeholder deliverables to completion
Comfortable working directly with senior leaders
Combined 7 years of experience in contract management, supplier relationship management, strategic sourcing, and/or contract-related discipline
5+ years of contract management or supplier relationship management experience
Experience working directly with senior leaders
2+ years experience managing a team of direct reports

Nice To Haves

Advanced degree (JD preferred)
Experience in contract management and/or supplier relationship management discipline, including experience of successful management of global contracts in excess of USD 30m value

Responsibilities

Ensure the delivery of contracted ADM services supporting both critical internal business applications and/or customer-facing applications including Thomson Reuters' flagship products
Act as Thomson Reuters' subject matter expert for assigned supplier contracts
Act as an escalation point on supplier matters, liaising with and advising the business and TR senior leaders as necessary, to achieve the best outcome for Thomson Reuters
Manage and negotiate to resolve major disputes, including on SLAs, unit rates, and contract compliance, to minimize commercial leakage and risk while sustaining healthy partnerships with suppliers
Control costs and limit financial risk and exposure through managing contracts and negotiating contract changes and settlements
Ensure contract deliverables and obligations, as well as stakeholder expectations, are met using Obligation Management practices and tools
Diagnose supplier performance and compliance issues relating to the contract, as well as recommend options and secure buy-in for plans to improve supplier performance/compliance
Manage, draft, redline, and negotiate contract changes including amendments and change requests and secure internal buy-in/approvals
Implement a methodology for price and performance benchmarking to ensure agreements remain commercially optimized over time
Implement best practice contract and commercial governance to reduce value leakage and erosion including adoption of a commercial issues log and leading contract and commercial governance meetings
Support 360-degree supplier relationship assessments and efforts (buy-from, sell-to and partner-with)
Drive creation of formal supplier strategies in coordination with the business, stakeholders and senior leaders
Support Executive Business Review meetings and planning to align executives of Thomson Reuters and our most important suppliers on how to optimize the 360-degree relationship (buy-from, sell-to, partner-with)
Represent Supplier & Contract Management in operational/service management governance forums with strategic suppliers
Manage contract terminations for cost-efficient and successful contract exits
Manage a small team (1-3) of direct reports
Participate in the leadership and development of the Supplier & Contract Management activities and methodologies
Provide expert counsel support to business and stakeholders
Proactively manage global suppliers, including their account leaders, to industry best practices for a reduced risk perimeter and to minimize value leakage and erosion
Drive achievement of contracted deliverables and obligations by implementing formal Contract Obligation Management
Perform rigorous issue management and resolve supplier disputes through contract expertise and negotiation
Achieve value beyond the contract through market-leading 360-degree supplier relationship management methodologies

Benefits

Hybrid Work Model: We've adopted a flexible hybrid working environment (2-3 days a week in the office depending on the role) for our office-based roles while delivering a seamless experience that is digitally and physically connected.
Flexibility & Work-Life Balance: Flex My Way is a set of supportive workplace policies designed to help manage personal and professional responsibilities, whether caring for family, giving back to the community, or finding time to refresh and reset. This builds upon our flexible work arrangements, including work from anywhere for up to 8 weeks per year, empowering employees to achieve a better work-life balance.
Career Development and Growth: By fostering a culture of continuous learning and skill development, we prepare our talent to tackle tomorrow's challenges and deliver real-world solutions. Our Grow My Way programming and skills-first approach ensures you have the tools and knowledge to grow, lead, and thrive in an AI-enabled future.
Industry Competitive Benefits: We offer comprehensive benefit plans to include flexible vacation, two company-wide Mental Health Days off, access to the Headspace app, retirement savings, tuition reimbursement, employee incentive programs, and resources for mental, physical, and financial wellbeing.
Culture: Globally recognized, award-winning reputation for inclusion and belonging, flexibility, work-life balance, and more. We live by our values: Obsess over our Customers, Compete to Win, Challenge (Y)our Thinking, Act Fast / Learn Fast, and Stronger Together.
Social Impact: Make an impact in your community with our Social Impact Institute. We offer employees two paid volunteer days off annually and opportunities to get involved with pro-bono consulting projects and Environmental, Social, and Governance (ESG) initiatives.
Making a Real-World Impact:â We are one of the few companies globally that helps its customers pursue justice, truth, and transparency. Together, with the professionals and institutions we serve, we help uphold the rule of law, turn the wheels of commerce, catch bad actors, report the facts, and provide trusted, unbiased information to people all over the world.
market competitive health, dental, vision, disability, and life insurance programs, as well as a competitive 401k plan with company match
market leading work life benefits with competitive vacation, sick and safe paid time off, paid holidays (including two company mental health days off), parental leave, sabbatical leave
optional hospital, accident and sickness insurance paid 100% by the employee; optional life and AD&D insurance paid 100% by the employee; Flexible Spending and Health Savings Accounts; fitness reimbursement; access to Employee Assistance Program; Group Legal Identity Theft Protection benefit paid 100% by employee; access to 529 Plan; commuter benefits; Adoption & Surrogacy Assistance; Tuition Reimbursement; and access to Employee Stock Purchase Plan