Vendor Manager

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🔥 0 minutes ago

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Marsh McLennan

10,000+ employees

Founded 1871

⚖️ Legal

📣 Marketing

💸 Finance

Legal • Marketing • Finance

Marsh McLennan is a leading professional services firm that operates in the areas of risk, strategy, and people. With over 85,000 employees worldwide, the company encompasses four main businesses: Marsh, offering insurance broking and risk management; Guy Carpenter, providing reinsurance and capital strategies; Mercer, specializing in health, wealth, and career consulting; and Oliver Wyman, focusing on strategy, economic, and brand consulting. Marsh McLennan is committed to fostering an inclusive culture, empowering its employees, and delivering innovative solutions to clients globally.

📋 Description

• Liaise between lines of business, operations teams, and vendors to oversee third-party relationships • Manage vendor relationships and contracts across multiple service categories • Lead complex negotiations and strategic planning • Conduct vendor risk assessments and due diligence • Ensure vendor compliance with regulatory requirements, industry standards, and Marsh policies • Maintain vendor databases, risk documentation, scorecards, escalation procedures, SLAs, and performance benchmarks • Monitor vendor performance and develop process improvement plans • Lead business reviews and performance discussions with key vendors • Act as an escalation point for dispute resolution and vendor-related business issues • Coordinate with procurement, legal, compliance, risk management, technology, accounts payable, and business teams • Identify opportunities for vendor consolidation, cost savings, process standardization, automation, and analytical development • Manage communication plans and change management controls • Review, redline, negotiate, and oversee the lifecycle of contracts, MSAs, and SOWs • Create and manage contract summaries, risk assessments, and spend approvals • Support vendor selection, evaluation, sourcing, and vendor landscape analysis • Analyze vendor spend, performance, risk status, cost savings, trends, and opportunities • Prepare ad-hoc reports and present portfolio metrics and risk trend insights to leadership

🎯 Requirements

• 3+ years of experience in vendor management, procurement, or contract management • Demonstrated strong negotiation and contract management skills • Experience with service level agreements (SLAs), performance metrics, and contract lifecycle management • Experience conducting vendor risk assessments and third-party due diligence • Knowledge of risk analysis methodologies and ability to evaluate vendors across multiple risk dimensions • Experience managing vendor portfolios across multiple service categories or business functions • Familiarity with legal and regulatory requirements related to vendor management, procurement, and third-party risk • Proactive and self-starter mindset with the ability to take initiative and drive results • Ability to research and resolve issues independently • Excellent verbal and written communication skills, with ability to articulate clearly to leadership • Strong attention to detail and excellent organizational skills • Effective multitasking with ability to work with a sense of urgency and prioritize effectively • Proficiency with Microsoft Office and data analysis tools; willingness to learn vendor management software systems • Critical thinking and analytical skills to digest complex material, assess risk, and provide strategic recommendations • Contract drafting, review, and redline experience with risk mitigation focus is a plus, but not required • Contract Lifecycle Management (CLM) platform experience is a plus, but not required • Strong understanding of third-party risk management frameworks and lifecycle management is a plus, but not required • Familiarity with risk assessment tools and methodologies is a plus, but not required • Background managing vendors across technology, professional services, staffing, or business process outsourcing categories is a plus, but not required • Experience in the insurance industry or with insurance-related vendors and service providers is a plus, but not required • Ability to travel as necessary for meetings is a plus, but not required

🏖️ Benefits

• Generous time off, including personal and volunteering • Tuition reimbursement and professional development opportunities • Remote work with occasional travel • Charitable contribution match programs • Stock purchase opportunities • Health and welfare benefits • 401K savings and other retirement programs • Employee assistance programs • Competitive total rewards package

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