Strategic Procurement Analyst

Description

Tower Hill Insurance Group has an exciting opportunity for a talented Strategic Procurement Analyst who enjoys intellectual challenges and is seeking a rewarding career with a company that is experiencing growth. Not only is Tower Hill Insurance one of Florida's most trusted names in homeowners insurance, but it offers great opportunities for career advancement and personal growth, along with very competitive benefits and rewards. We are growing at a consistent pace and seek professional individuals with drive, team mentality, who want to make an impact, and are committed to a long-term career in the insurance industry.    

The Strategic Procurement Analyst is responsible for analyzing and managing the financial aspects of Tower Hill Insurance Group’s source to pay process. This role involves evaluating financial data, preparing reports, and providing strategic insights to optimize procurement costs and improve overall efficiency. The ideal candidate will have strong analytical skills, a keen eye for detail, and the ability to work collaboratively with various departments.

ESSENTIAL DUTIES AND RESPONSIBILITIES

· Analyze procurement data to identify cost-saving opportunities and improve financial performance.

· Develop and maintain procurement budgets, forecasts, and financial models.

· Monitor and report on procurement expenses, ensuring alignment with budgetary constraints and financial goals.

· Collaborate with stakeholder, procurement and finance teams to develop and implement cost reduction strategies.

· Prepare and present detailed financial reports, including variance analysis and trend assessments.

· Support the development and implementation of procurement policies and procedures.

· Conduct market research and analysis to stay informed of industry trends and pricing changes.

· Ensure compliance with all relevant financial regulations and standards.

· Provide the organization with comprehensive, real-time spend analytics dashboards, analytical reporting capabilities and tools.

· Communicate closely with business and cross functional teams. 

· Provide financial analysis support on contracts and supplier quotes.

· Identify, catalogue, and monitor financial spend on contracts via Vendor Management System (VMS).

· Create and manage templates for business to analyze services across vendors.

· Audit VMS to ensure correct usage of system.

· Monitor data accuracy of VMS.

· Monitor VMS internal service level agreements (SLAs).

· Support monitoring of vendor key performance indicators (KPIs).

· Analyze and identify vendor compliance issues and trends.

ADDITIONAL DUTIES

This job description reflects the general duties considered necessary to describe the essential functions of the job and should not be considered a complete description of all the work requirements and expectations of the position. Tower Hill reserves the right to assign duties not listed herein as necessary to accomplish the goals of the organization.

Requirements

POSITION QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION 

Bachelor’s Degree in Accounting, Business, Finance, Supply Chain or related field required. 

Master’s Degree in Business Administration preferred.

EXPERIENCE

Minimum of three (5) to eight (8) years of relevant work experience in vendor management, contract negotiation, and relationship building at a strategic level required. 

Previous experience in insurance or finance industry preferred. Familiarity with industry best practices and emerging trends in vendor management a plus.

CERTIFICATIONS

N/A

LICENSES

Valid Driver’s License required.

Preferred work arrangement hybrid on-site, but remote candidates will be considered based on qualifications and experience. 

For more information about our company, careers and Total Compensation, visit www.thig.com/careers

*Tower Hill Insurance currently operates in these states AL, CT, FL, GA, IA, IN, KY, MI, MS, NC, OH, PA, SC, TN, TX, UT, VA, WV. 

Tower Hill Insurance is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disabi