Manager, Vendor

Description

Tower Hill Insurance Group has an exciting opportunity for a talented Vendor Manager 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 Vendor Manager is responsible for managing relationships with high-impact vendors and conducting complex contract negotiation, while maintaining accurate records. This position also acts as a liaison between vendors and internal departments for seamless collaboration. This role will play a pivotal part in shaping and optimizing our vendor relationships, ensuring that they align with our strategic goals.

ESSENTIAL DUTIES AND RESPONSIBILITIES

· Identify potential vendors based on business needs and industry standards.

· Lead the onboarding process for new, high-level vendors, ensuring compliance with company policies and standards.

· Negotiate large, complex contracts with vendors to secure favorable terms and conditions.

· Regularly review and update existing high-impact contracts to align with evolving business requirements.

· Provide financial analysis and audit work in support of one or more service contracts to help drive strategic business decisions.

· Identify, catalogue, and monitor a contract’s financial requirements and commitments.

· Independently establish key performance indicators (KPIs) for vendors and monitor performance against established benchmarks.

· Monitor and analyze vendor performance to assure compliance with service level agreements and continuous improvement of the services.

· Cultivate strong, positive relationships with key vendors and business partners.

· Serve as the main point of contact for vendor-related matters and facilitate effective communication.

· Identify and assess potential risks associated with vendor relationships.

· Develop and implement strategic risk mitigation strategies to safeguard the company's interests.

· Collaborate with vendors to identify cost-saving opportunities without compromising quality.

· Evaluate pricing structures and negotiate cost-effective agreements.

· Has day-to-day responsibility for the quality and cost effectiveness of the vendor’s services.

· Partner closely with internal stakeholders, including legal, finance, and operations teams, to ensure alignment with overall business objectives.

· Facilitate communication and collaboration between departments and vendors.

· Perform Contract Administration procedures to ensure that all changes to the contract are made in accordance with the base agreement and the interests of the company, and that an audit trail is maintained. 

· Responsible for identifying, cataloging, and monitoring requirements for reports, meetings, decisions, analyses, etc. throughout the year; and maintaining a calendar of contract activities.

· May step in for VP, Vendor Management as needed. 

Requirements

EDUCATION 

Bachelor’s Degree in Business, Finance, Supply Chain Management, or related field required. Master’s Degree preferred.

EXPERIENCE

Minimum of three (3) 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.