Position Overview: Head of Vendor Management will play a key leadership role in driving strategic initiatives across the organization. This individual will be responsible for overseeing vendor relationships, managing finance and budget allocations, and optimizing internal resource planning to support the organization's overall objectives. This position requires an experienced and strategic leader who can effectively manage cross-functional teams, develop financial strategies, and build strong relationships with external vendors.
Key Responsibilities:
Vendor Management:
- Lead the development and execution of the company's vendor management strategy, ensuring alignment with organizational goals and objectives.
- Oversee the selection, negotiation, and onboarding of vendors, ensuring cost-effectiveness, quality, and compliance with contractual terms.
- Build and maintain strong relationships with key vendors and third-party partners, fostering collaboration and identifying opportunities for cost savings and operational improvements.
- Establish and monitor vendor performance metrics, ensuring service levels and deliverables are met.
- Manage vendor contract renewals, disputes, and escalations as needed, driving resolution in alignment with organizational interests.
Finance & Budget Allocations:
- Lead the budgeting process, ensuring alignment with the organization's strategic goals, financial forecasts, and operational needs.
- Work closely with department heads to allocate resources and manage budgets, ensuring financial discipline and cost control across the organization.
- Prepare and present financial reports to senior leadership, providing insights on budget performance, cost trends, and opportunities for optimization.
- Implement financial best practices and reporting standards to ensure transparency and accuracy in budget allocations.
- Monitor and assess financial risk across departments, recommending corrective actions to mitigate potential issues.
Internal Resource Planning:
- Oversee internal resource planning efforts, ensuring that teams are adequately staffed and resources are efficiently allocated to meet business priorities.
- Collaborate with HR, operations, and department leaders to forecast and plan for resource needs, including talent, technology, and capital expenditures.
- Optimize resource utilization through data-driven analysis, recommending adjustments to project timelines and team structures where necessary.
- Lead the development of capacity planning models and tools to ensure optimal workforce deployment.
- Ensure that internal resources are being utilized in a way that maximizes productivity and reduces operational inefficiencies.
Leadership & Strategic Alignment:
- Provide leadership to a team of managers and professionals, fostering a culture of collaboration, accountability, and continuous improvement.
- Work closely with C-suite executives and department leaders to align vendor management, finance strategies, and resource planning with company-wide objectives.
- Serve as a trusted advisor on financial matters, resource optimization, and vendor negotiations.
- Ensure that all initiatives comply with company policies, industry regulations, and best practices.
Qualifications:
- Bachelor's degree in Finance, Business Administration, Supply Chain Management, or a related field; MBA or equivalent advanced degree preferred.
- Minimum of 10-15 years of experience in finance, vendor management, or resource planning roles, with at least 5 years in a senior leadership position.
- Proven experience in managing large-scale budgets, vendor negotiations, and resource allocation strategies.
- Strong understanding of financial modeling, forecasting, and performance analysis.
- Exceptional negotiation, communication, and interpersonal skills.
- Ability to think strategically while executing at a tactical level to achieve company objectives.
- Experience in managing cross-functional teams and leading organizational change initiatives.
- Expertise in vendor management software, financial tools, and enterprise resource planning (ERP) systems.
- Excellent problem-solving, decision-making, and conflict-resolution skills.
Preferred: Highly Desirable
- Industry-specific experience in P&C Insurance, with a focus on managing vendor relations and resource planning within the sector.
Strong background in driving cost-saving initiatives while maintaining high-quality standards