Vendor Management Specialist

Vermont Mutual Insurance•Montpelier, VT

12h•$70,000 - $90,000

About The Position

Vermont Mutual is seeking a detail-oriented and strategic Vendor Management Specialist to own the full lifecycle of contracting and vendor procurement. The role drafts, reviews, and negotiates agreements with vendors and partners; builds scalable contracting processes; executes third-party risk management processes; and connects Legal, Finance, IT Security, and teams that rely on external vendors. The position calls for hands-on procurement contract experience and the ability to build process and structure in a fast-paced environment where priorities may shift quickly. The position works with departments throughout the company to manage procurement from requisition through vendor selection, negotiation, diligence, security assessment, and invoice payment. It also supports vendor governance, contract administration, risk mitigation, purchasing coordination, budgeting and forecasting, and special projects for Finance leadership.

Requirements

Bachelor’s degree in Business, Finance, or a related field.
3–5 years of experience in vendor or contract management, preferably in the insurance or financial services industry.
Strong negotiation, organization, and communication skills.
Experience managing contract databases and third-party risk frameworks.
Excellent interpersonal skills and ability to work effectively with company personnel, vendors, and other external parties.
Proficiency with PC applications, including Microsoft Outlook, Word, and Excel.

Nice To Haves

Experience in vendor or contract management within the insurance or financial services industry.

Responsibilities

Develop and implement procurement strategies aligned with company goals and regulatory requirements.
Work with each department to manage the end-to-end procurement process, from initial requisition through vendor selection, negotiation, diligence, security assessment, and invoice payment.
Analyze vendor bid and proposal cost structures to ensure competitive and favorable terms.
Manage vendor governance, including performance tracking, third-party risk assessments, due diligence, ongoing monitoring, and renewal or offboarding decisions.
Collaborate with business units and Legal to streamline contract management, identify potential risks, and improve contract handling.
Track contract renewals, key dates, and obligations, and maintain a current contract repository.
Work cross-functionally to identify and mitigate third-party relationship risks, including data security, financial stability, and regulatory compliance.
Monitor market trends and pricing to identify cost-saving opportunities.
Support budgeting and forecasting by providing procurement data and insights.
Coordinate with Facilities and IT, use Oracle to create purchase orders, and monitor the status of supplies and deliveries.
Assist the Director of Finance, Controller, and Treasurer with special projects, including testing applications for automation, accounting systems, and compiling information for special reports.
Perform other duties or special projects as required or assigned.