[Hiring] Vendor Manager @Marsh McLennan

Role Description

As our Vendor Manager, you'll play a crucial role in liaising between our lines of business, operations teams, and vendors to ensure the successful development, oversight, and monitoring of our third-party relationships. You'll manage vendor relationships and contracts across multiple service categories, lead complex negotiations and strategic planning, conduct risk assessments, and ensure all terms and pricing agreements align with our standards. You'll serve as a trusted advisor to business leaders, providing actionable insights and driving continuous improvement in our vendor management and risk mitigation processes.

Qualifications

• 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 communication skills, both verbal and written, 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

Requirements

• Serve as the primary business contact for vendor relationships, building strong working relationships with internal business teams, legal, compliance, and technology teams
• Drive successful and timely vendor onboarding and contract renewals as a key liaison across all stakeholder groups
• Manage diverse vendor portfolios spanning multiple service categories (e.g., technology, professional services, business process outsourcing)
• Maintain a comprehensive vendor database including scope of services, key provisions, contact information, and risk profiles across service categories
• Monitor vendor performance and develop process improvement plans for identified gaps or non-performance issues
• Lead business reviews and performance discussions with key vendors to assess service delivery against SLAs
• Act as an escalation point for dispute resolution and vendor-related business issues
• Conduct comprehensive risk assessments and due diligence on vendors prior to contracting and on a periodic basis
• Ensure vendor compliance with applicable regulatory requirements, industry standards, and Marsh policies
• Maintain risk documentation, scorecards, and escalation procedures for vendors across the portfolio
• Collaborate with Risk Management, Legal, and Compliance teams to identify and address vendor-related risks
• Conduct periodic risk reviews for existing vendors to assess changes in risk posture and evolving requirements
• Manage vendor relationships across diverse service categories with different risk profiles, contract structures, and performance metrics
• Tailor vendor oversight based on service category complexity and business criticality
• Coordinate with category-specific procurement teams to ensure consistent vendor management standards across the enterprise
• Identify cross-category opportunities for vendor consolidation, cost savings, and process standardization
• Maintain category-specific documentation, SLAs, and performance benchmarks across the vendor portfolio
• Monitor industry trends and emerging risks within each service category to proactively address vendor management challenges
• Follow Marsh Agency process standards for working with vendors and internal colleagues during implementation and ongoing operations
• Identify opportunities for improvement and lead efforts to enhance vendor management processes
• Manage complex communication plans and change management controls
• Collaborate with Accounts Payable to ensure accurate invoicing and timely payments
• Support process automation and analytical development initiatives
• Conduct thorough reviews of vendor contracts with meticulous attention to detail, with particular focus on risk allocation and compliance requirements
• Provide redline reviews and act as liaison between vendors, business partners, and Legal team
• Negotiate contracts and agreements to establish mutually beneficial terms and conditions with appropriate risk mitigation clauses
• Establish clear expectations, service level agreements (SLAs), performance metrics, dispute resolution mechanisms, and risk management provisions
• Oversee the entire contract lifecycle, ensuring timely completion of agreements, Master Services Agreements (MSAs), and Statements of Work (SOWs)
• Lead contract renewal negotiations in collaboration with Legal and internal colleagues, reassessing risk profiles and changing requirements
• Create and manage detailed contract summaries, risk assessments, and spend approvals
• Collaborate with Line of Business Leaders, Procurement, and Legal teams to define business requirements for vendor selection
• Conduct vendor risk assessments as part of the selection process, ensuring compliance with Marsh Agency standard practices
• Participate in vendor evaluation and selection processes, providing strategic recommendations based on risk and business analysis
• Contribute to sourcing and vendor landscape analysis across multiple service categories
• Utilize high-quality analytics and predictive planning to analyze multiple scenarios and provide actionable information to leadership
• Support the business and Procurement team with data gathering, ad-hoc reporting, and analytical requests
• Present insights across multiple business and system groups, including risk trend analysis and portfolio metrics
• Track and report on vendor spend, performance metrics, risk status, and cost savings across service categories
• Analyze vendor performance data to identify trends, risks, and opportunities for improvement

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

Company Description

Marsh McLennan Agency (MMA) provides business insurance, employee health & benefits, retirement, and private client insurance solutions to organizations and individuals seeking limitless possibilities. With offices across North America, we combine the personalized service model of a local consultant with the global resources of the world's leading professional services firm, Marsh (NYSE: MRSH).