Executive Recruitment Firm, Monroe Consulting Group is working with an esteemed financial services company to onboard their Head of Vendor Management, Asia to spearhead the establishment of vendor management practices and governance within the organization. This role will be instrumental in developing and implementing vendor management strategies, policies, and procedures to ensure effective vendor selection, contract negotiation, and ongoing vendor performance management (Candidate must have insurance industry experience)
Job Responsibilities:
- Develop and maintain relationships with key vendor partners of the RDC.
- Define and monitor key performance indicators (KPIs) to assess vendor performance.
- Conduct regular performance and service reviews and provide feedback to vendors.
- Identify areas for improvement and work with vendors to implement corrective actions.
- Establish governance frameworks and policies for vendor management.
- Ensure compliance with contractual agreements and service level agreements (SLAs)
- Lead the transition process when switching vendors or onboarding new vendors.
- Develop transition plans and timelines, ensuring minimal disruption to business operations.
- Serve as the primary point of contact for vendor-related issues and inquiries
- Identify opportunities for process improvement and implement enhancements to streamline vendor management processes
Job Requirements:
- Bachelor's degree in business administration, finance, or a related field. Master's degree preferred.
- Minimum of 15 years of experience in vendor management, procurement, or related roles in insurance industry.
- Proven track record in driving and establishing vendor management practices at an executive level.
- Strong understanding of vendor management principles, practices, and industry
standards. - Excellent negotiation and contract management skills.
- Strong experience in vendor performance metrics and reporting
- Strategic mindset with the ability to align vendor management strategies with organizational goals.
- Strong leadership skills and the ability to influence and drive change across the organization.
- Excellent communication and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders.
- Knowledge of regulatory requirements and compliance frameworks related to vendor management.
- Professional certifications in vendor management or procurement (e.g., Certified Professional in Supply Management - CPSM) are a plus.
