Vendor Manager I​/II

Job Description Summary

The Vendor Manager (VM) is responsible for strategically managing vendor portfolios and vendor relationships which may vary in complexity, risk, size, and spend, etc. The incumbent acts as a strategic trusted advisor to the business unit and business partners and leads sourcing, selection, negotiations, contracting, and governance activities through proactive collaborative engagement with the business unit, cross functional stakeholders, and leaders.

The Vendor Manager focuses on delivering improved vendor performance, competitive costs, balanced risk, enhanced vendor alignment, on‑time execution, and optimal business partner alignment and satisfaction.

• Manages vendor portfolios and vendor relationships for small size business units / vendor portfolios with low complexity and risk. Owns all aspects of the vendor relationship for designated business area to ensure vendor performance meets contractual obligations and business partner expectations.
• Performs monthly reviews with business unit regarding vendor current activity and future plans and requirements for new vendor activity; share industry vendor insight on cost drivers, negotiation levers, competitors, and industry trends. Provides required vendor management support for business unit ongoing operational activities and projects.
• Annually updates and formally reviews a business unit's vendor portfolio summary report covering overall portfolio vendor activity volumes, financials, dates, plans, issues, risks, opportunities, trending and industry insight. Facilitates upfront early engagement and initial planning with business units for ongoing renewals and new agreements.
• Directs activities for business unit vendor portfolio agreements, including renewals, amendments, and new contracts to drive quality, on‑time delivery, competitive costs, contract execution; identifies key issues and required corrective actions while facilitating and escalating as needed.
• Leads, structures, and guides business units on major vendor sourcing, selection, negotiations, and contracting plan in partnership with internal stakeholders (Business Units, Legal, Finance, Security, EPMO, Sourcing, and Purchasing); facilitates management review and approval of plan scope, timing, costs, and sourcing approach; oversees overall plan execution per schedule.
• Leads sourcing and selection activities as planned through RFx competition and/or direct negotiations with industry advisement, as necessary.
• Leads commercial negotiations focused on vendor product and service obligations and competitive pricing by leveraging industry/benchmark pricing and advisement; formally tracks and reports negotiation results.
• Facilitates Legal, Finance, Executive Management, and Purchasing timely review and approvals; identifies key on‑time execution issues and required corrective actions while facilitating and escalating as needed.
• Supports supplier diversity efforts with direct engagement of Minority and Woman owned businesses (MWBE) or through the development and capturing of second tier MWBE reporting.
• Supports formal governance framework to drive improvement for quality, delivery and support, flexibility and ease, cost and financials, risks and compliances, strategic partnership alignment and innovation for select vendors.
• Leads vendor escalations and contractual dispute resolutions by understanding the vendor's contractual obligations and communicating appropriately with its stakeholders.
• Provides required vendor management support for Corporate Enterprise projects.
• Supports optimization of Vendor Management framework, process, data, system, reporting, and analytics.
• Complies and understands corporate privacy policies and procedures that impacts member demographic information and internal stakeholders.
• Consistently demonstrates high standards of integrity by supporting the Lifetime Healthcare Companies' mission and values, adhering to the Corporate Code of Conduct, and leading to the Lifetime Way values and beliefs.
• Maintains high regard for member privacy in accordance with the corporate privacy policies and procedures.
• Maintains knowledge of…