Vertex Solutionsposted 9 months ago
Full-time • Senior
Woodbridge Township, NJ
Professional, Scientific, and Technical Services

About the position

The Head of Vendor Management Office (VMO) is a pivotal role within our global insurance client, based either in Iselin, NJ, or downtown NYC. This full-time position offers a competitive salary, bonus, and benefits, and while an insurance industry background is advantageous, it is not a prerequisite. The role can be performed on-site five days a week or in a hybrid model, requiring three days in the office. In this capacity, the Head of VMO will lead, manage, and optimize the IT Vendor Management efforts, with a strong emphasis on outsourcing and vendor strategy. The ideal candidate will possess extensive experience in vendor strategy, location strategy, vendor relationships, vendor performance management, and total cost of ownership (TCO) improvements. The role demands a seasoned professional who can develop a comprehensive understanding of the Global IT Strategy, aligning it with the existing vendor ecosystem. This includes identifying the need for new partners or enhancing capabilities within current partnerships to meet the organization's IT vision and goals. Collaboration is key in this role, as the Head of VMO will work closely with various IT pillars to drive strategic partnerships, ensuring that outsourced partners effectively extend the IT team's capabilities. This collaboration will also extend to Procurement, IT Finance, IT Portfolio Management, and IT Talent & Culture teams, ensuring that outsourced relationships align with fiscal and cultural goals. The Head of VMO will be responsible for developing and implementing vendor strategies that are in line with IT objectives, fostering long-term partnerships, and conducting annual reviews of vendor performance metrics to assess the vendor mix. Additionally, the role involves analyzing market trends and costs to inform location strategies for vendor operations, including outsourcing and offshoring initiatives.

Responsibilities

  • Develop and implement vendor strategies aligned with IT Vision and Goals.
  • Annually review current vendor relationships based on performance metrics, spend, and feedback.
  • Analyze market trends and business requirements to develop effective location strategies for vendor operations.
  • Conduct TCO analysis for vendor relationships to optimize cost efficiency.
  • Identify opportunities for right-sourcing to enhance IT agility.
  • Establish performance metrics and monitor vendor performance against SDFs, implementing corrective actions as necessary.
  • Cultivate strong relationships with vendors to drive innovation and value creation.
  • Lead contract negotiations and oversee contract compliance throughout the vendor lifecycle.
  • Collaborate with internal stakeholders to align vendor management activities with broader business strategies.

Requirements

  • Bachelor's degree in business administration, Supply Chain Management, or a related field; MBA or equivalent preferred.
  • 15+ years of progressive experience in vendor management, focusing on vendor relationship management and strategic sourcing.
  • Proven track record of developing and implementing successful vendor strategies that drive business value.
  • Strong analytical skills with the ability to conduct TCO analysis and make data-driven decisions.
  • Exceptional communication and negotiation skills, with the ability to influence stakeholders at all levels.
  • Demonstrated leadership experience, with the ability to lead cross-functional teams.
  • Proficiency in vendor management tools and technologies, with experience in contract management systems preferred.
  • Strong understanding of relevant regulations and compliance requirements in vendor management.

Nice-to-haves

  • Business domain knowledge of Insurance and/or Reinsurance or Financial Services.
  • Understanding of IT Services outsourcing and Software Development Lifecycle.
  • Familiarity with various contract types (T&M, Fixed Priced, Managed Services) and sourcing models (Onshore, Offshore, Nearshore).

Benefits

  • Competitive salary and bonus structure
  • Comprehensive benefits package
  • Flexible work arrangements (on-site or hybrid)
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