Vendor Management Program Analyst

Overview:

At Legal & General America, we aim to make a positive difference in the lives of our customers, partners, colleagues, and the communities in which they live. As a recognized market leader of term life insurance, we’re working to transform our business through innovation and technology to provide products and solutions that help American families secure their financial futures.

Our employees' passion, dedication and hard work, as well as our career development opportunities, benefits, and employee activities contribute to our positive workplace culture.

To accomplish this, the Vendor Management Program Analyst will assist the Head of VMO with strategic sourcing, vendor due diligence, contract and expense management.

The Vendor Management Program Analyst will be responsible for applying vendor oversight procedures that reduce risk and drive performance. Working closely with various departments across the organization to track, monitor, and review key vendor metrics, the Vendor Management Program Analyst will report and action on this data to help drive better vendor relationships and selection, performance, and efficiency.

Responsibilities:

1. Manage the day-to-day administration of vendor management software to ensure that key vendor metrics (e.g., contract milestones, performance, profiles) are current.
2. Coordinate and assist business units with developing and implementing vendor oversight plans, such as holding periodic vendor service meetings, defining roles and responsibilities, establishing mechanisms to develop and track value generated from vendor relationships.
3. Limit supply chain risk exposure by conducting continuous monitoring of critical vendors through alert reviews, generating comprehensive intelligence reports on key risk domains, such as financial and corporate health, reputation, and locational/geopolitical, and developing remediation strategies.
4. Supports the VMO’s “Know Your Third Party” due diligence process to identify and mitigate risk and fraud.
5. Tracks and reports to senior management on contract milestones and provides recommendation on renewal strategies.
6. Drives expense management activities through assessing projected cost to actuals, investigate spend variances, spend reporting, and vendor rationalization.
7. Provide ongoing advisory support to business units regarding their vendor management responsibilities; monitor their adherence to established policies, procedures and best practices; independently identify and escalate issues requiring remediation; facilitate timely resolution of all remediation issues.
8. Maintain an understanding of the regulatory landscape and industry best practices, and collaborate with Manager to modify internal policies, workflows, and procedures to ensure compliance.
9. Support Front office through training new Relationship Managers, maintaining training content on the VMO Hub, and performing other duties as assigned.

Qualifications:

Education

Bachelor’s degree (may consider equivalent combination of education and experience).

• 3 to 5 years of relevant work experience in the vendor management, procurement, and/or contract management or related fields that include risk management with insurance industry experience is preferred.
• Strong understanding of vendor management lifecycle and vendor risk management principles, methodologies, and best practices.
• Proficient in the design and implementation of effective control framework.
• Strong critical analysis skills.
• Ability to adapt to a changing environment.
• Ability to manage multiple priorities in a demanding environment.
• Results oriented, self-sufficient, driven and ability to embrace change.
• Ability to proactively identify, communicate and resolve issues across various levels and functions in the organization.
• Advanced interpersonal skills to effectively communicate with senior leaders and vendors.

What’s in it for you?

The expected hiring compensation range for this position is $88,300 - $115,000. annually. This position is hybrid requiring 3 days in our Frederick, Maryland office.

Bonuses are pro-rated based on start date. This role has 15 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

Enjoy time off to volunteer for those causes that matter most to you!

The Company reserves the right to change benefits plans at any time.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.