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Vendor Management Specialist
2 months ago
Job Summary:
The Vendor Management Specialist supports and oversees the client's vendor management and procurement function at S4 Market Data. This position develops policies and procedures related to vendor management and procurement of goods and services. The Vendor Management Specialist evaluates, negotiates, and approves contracts with suppliers and analyzes company spend for cost effectiveness and savings/reductions opportunities.
Key Responsibilities:
- Establish and Manage Vendor Management Policies: Develop and implement internal and external policies, standards, and processes for vendor management and third-party supplier interaction.
- Collaborate with Internal Stakeholders: Work with internal stakeholders, including IT and business resources, sourcing, and procurement teams to optimize the cost-effectiveness of negotiations and ensure compliance with established vendor management policies and practices.
- Manage Vendor Contracts: Optimize the cost-effectiveness of negotiations and ensure compliance of negotiated agreements to established vendor management policies and practices, including articulation of service levels and deliverables.
- Vendor Spend Management: Maintain an inventory of vendor spend in collaboration with business, finance, and procurement teams by category (software, hardware, telecom, staff augmentation, services), cost center, and region.
- Vendor Performance Measurement: Oversee the measurement and reporting of vendor performance, including the development of evaluation tools based on constituent requirements, and the creation of scorecards and dashboards that accurately present this data.
- Risk Assessment: Maintain vendor risk assessments or risk registers in cooperation with risk, privacy, business continuity, and security teams.
Qualifications and Experience:
- 5+ years of management experience.
- Ability to manage Third-Party relationships for products or services, including contract negotiation support, oversight, and SLA management.
- Knowledge and understanding of Third-Party contracts reviews.
- Experience with full lifecycle; procurement to payment.
- Organized, detail-oriented, and customer-focused, with dependable and effective analytical, oral, and written communication skills for customer/vendor relations and interfaces.
- Ability to read and interpret moderate terms and conditions of sales and purchases.