Manager, Vendor Management (IC)

We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time.

Responsible for providing support to Vendor Management, Finance, and Specialty. Manage all aspects of vendor monthly KPI review, setting AHT goals, and support all Request for Proposal (RFP) for outsourced vendors. Responsible for performing data analysis of vendor performance, spend, cost estimates and projects and do Ad Hoc analysis as requested. Oversight of the invoice validation and process.

Financial Analysis

• Perform complete cost impact analysis for changes made in workflow processes
• Prepare and provide spend analysis to consultants, peers and leadership as requested
• Complete monthly analysis of new hire training spend, vendor charges and miss lock penalty charges for accuracy and for discussions with vendors
• Provide Ad Hoc analysis as requested
• Provide data analysis on budget spend vs forecast with insights and trends
• Develop scorecards and validation process
• Perform data analytics/financial modeling on savings opportunities/affordability for new initiatives
• Track monthly spend, trends, mitigation plans

Vendor Monthly Performance Goals

• Develop and Maintain monthly Service Level (KPI) files and Dashboards
  • Facilitate meetings with Vendors and Leadership to discuss missed goals
  • Validate if vendor penalties are due
  • Track waived penalties
• Develop and maintain monthly vendor comparison and onshore and offshore comparison files for Senior Leadership visibility
• Track monthly missed forecast and fees paid
• Quarterly AHT Goals
  • Request vendor quarterly goals with backup data to support validation
  • Do a full analysis of each vendor’s proposed AHT goal vs. budgeted, forecasted and trending actuals by line of business. When needed provided vendors feedback on where CVS requires revision to goal.
  • Facilitate Quarterly AHT goal setting meeting with vendors where needed and track goal discussions.
  • Obtain approval of goals from vendors and CVS.
  • Distribute updated goals

Invoicing

• Oversee the complete process of invoice validation, approval, and invoice processing
• Oversee the Invoice Processing team
  • Review invoice validation process and approve as necessary
  • Oversee invoices are approved and submitted for payment within the MSA terms
  • Oversee all files related to invoice tracking, validation, and accruals are maintained and audit ready
• Develop estimate, invoice validation files, and process for new vendors
• Continue to enhance the invoice validation process
  • Work with vendor to improve backup documentation
  • Make continuous improvement to validation templates
  • Continue to develop teams skills for validation
• Review all invoices to identify reoccurring issues that prevent invoices approval and delays payment
• Identify area in vendor invoice calculation that require additional discussion with processing team and vendor that could result in credit
• Review monthly invoice errors, research root cause and work with vendor to resolution any errors or discrepancy identified invoices and track credits issued
• Review weekly and monthly estimates for discrepancies and work to resolve prior to being invoiced

Support

• Support Vendor Management, Finance and Specialty
  • Maintain vendor pricing, location, and contract files for distribution
  • Track Ramp planned spend
  • Prepare cost analysis of unplanned expenses and provide to finance for visibility

Vendor Contract Management

• Support drafts of SOW/Change Order
  • Work with Vendor to obtain pricing change or other requirements
  • Work with Stakeholders to validate current requirements for training, quality, staffing and forecasting are included
  • Facilitate meetings with Vendors and Business Owners to negotiate requirements as needed
  • Obtain projected call volumes, training and prepare estimated budget
  • Prepare final SOW draft
• Engage with Leadership and Business Owner for review and approval as needed
• Support the preparation of documents and input for bid request
• Work with VMT and Sourcing Procurement to ensure accuracy of information shared
• Participate in all calls and meetings related to RFP