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Vendor Management Specialist

Prudential


Location:
Shelton, CT
Date:
03/23/2017
Job Code:
387398
Prudential
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Job Details

Position Title: Vendor Management Specialist
Job Code: 387398
Job Location: Connecticut-Shelton
Description:

 

 
This position is responsible for Annuities Service area Vendor Management of one complex or multiple vendor relationship(s).
 
The role of this individual is to plan and execute the business oversight of a third-party administrator vendor, working with the business experts across the Service organization and Prudential.  The responsibilities include partnering with business owners/engagement managers to ensure vendor relationships are entered into and monitored using a consistent set of principles and standards. This includes, but is not limited to:
 
  • Directly participating in vendor oversight activities
  • Ensuring that strong measurement and monitoring processes exist to enable issue identification and the overall management of the Vendor relationship
  • Manage budget expenses, anticipating and explaining any variances as well as facilitating payment of invoices
  • Drive resolution of escalated incidents, issues, in addition to audit and due diligence items
  • Drive project accountability with business owners and their assigned individuals as well as ability to manage and complete a project for the Vendor Management department
  • Monitor assigned Engagement Managers to ensure they pose the requisite skills to effectively perform their responsibilities including but not limited to the following:
    • Knowledge of business area and operations
    • High level understanding of vendor’s service levels
    • Ability to document, control and manage the procedures for the day-to-day operations of the vendor relationship (manager business unit sponsored projects and their approved budget as well as monitoring controls)
    • Responsiveness to resolution of issues
    • Ability to analyze and communicate vendor performance issues or non-compliance of contract terms to relationship, senior management or vendor governance

 

  • 2-5 years experience in Operations in a financial or insurance company required
  • Experience managing vendor relationships and/or resolution of issues in a cross functional environment preferred
  • Experience working with vendors preferred
  • Ability to acquire sufficient Business Group and Operational knowledge
  • Experience with project management and /or oversight preferred
  • Detailed understanding of contract terms, monitoring activities, and required due diligence
  • Ability to define, communicate and manage the roles and responsibilities of Vendor Manager and Business experts/Engagement Managers on how they interact with the vendor to be in compliance with Enterprise standards
  • Ability to communicate and articulate vendor performance issues and due diligence items to appropriate parties both internally and externally
  • Facilitates due diligence and monitoring activities between the vendor, engagement managers, and vendor governance team
  • Ability to archive/document evidence of compliance to enterprise vendor governance/audit standards
  • Ability to remediate and resolve vendor non-compliance issues working with the Law Department.
  • Understand and mitigate the inherent and residual risks of vendor relationship (Info sec., Privacy, Business continuation, criticality, etc.)
  • Bachelors degree or relevant experience preferred
  • Demonstrated ability to build and maintain relationships with individuals across multiple locations. 
  • Excellent written and verbal communication skills
  • Understanding of Prudential's business and operations is preferred
  • Ability to travel domestically, as needed (approx. 10% travel required for this position)

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.
Job Function: Other
Schedule: Full-time
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