Vendor Management Specialist

A.M. Best • Oldwick, NJ

61d • Hybrid

About The Position

The Vendor Management Specialist will support the head of Vendor Management by managing a portfolio of vendors throughout all phases of the vendor life cycle. The position will ensure that assigned vendors are selected, onboarded, monitored, renewed and terminated in accordance with Company policy in order to minimize the Company's exposure to risk.

Requirements

• Bachelor's degree in relevant curriculum, legal, compliance, finance, or risk management preferred
• Three plus years in Procurement and Vendor Management or related field
• Experience in vendor management or procurement preferred. Certification in third party risk management preferred (CTPRP, CRVPM)
• Proficiency in MS Office, especially Excel
• Experience with Vendminder vendor management software preferred
• Experience effectively engaging with leadership and influencing internal stakeholders
• Ability to work in a constantly changing environment and manage priorities according to changing strategic objectives
• Ability to multitask and work well as part of a global team
• Excellent problem-solving skills, communication and interpersonal skills
• Excellent presentation skills
• Strong analytical and negotiation skills
• Strong interpersonal skills
• Ability to offer improved customer service

Responsibilities

• Manage a portfolio of multiple vendor engagements across all departments, while driving operational efficiencies and providing excellent client services.
• Build and maintain long-lasting relationships with vendors.
• Negotiate product pricing and contracts with vendors. Assist with updating, renewing, and canceling vendor contracts.
• Communicate product-related issues and concerns to vendors.
• Research new vendors in the market.
• Facilitate communications between vendors and stakeholders.
• Track vendor performance and mitigating actions. Compile reports, as needed.
• Support resolution of vendor activities, inquiries, issues, incidents, service requests, and escalations.
• Maintain vendor and contract data in the system of record (Venminder) and ensure reports and performance targets are met, reported, and submitted from vendors to be uploaded in the system.
• Coordinate with Accounts Payable to assure that vendors are fully reviewed before initial payment.
• Manage the periodic review of vendors and track expiring due diligence, insurance and tax documentation.
• Assist in reviewing, updating and enhancing vendor management procedures.
• Keep abreast of US and EU regulatory requirements.
• Perform other related duties as assigned.

Benefits

• Flexible and hybrid work arrangements
• Paid time off/Paid company holidays
• Medical plan options/prescription drug plan
• Dental plan/vision plan options
• Flexible spending and health savings accounts
• 401(k) retirement savings plan with a Roth savings option and company matching contributions
• Educational assistance program

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
• Number of Employees: 501-1,000 employees