Hanover Insurance Company
Director Vendor Management
Hanover Insurance Company, Worcester, Massachusetts, us, 01609
For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.
Our Personal lines team is currently seeking a
Director of Vendor Management
in our Worcester, MA location in a hybrid work arrangement. This is a full-time, exempt role. POSITION OVERVIEW: The successful candidate will be responsible for managing and optimizing relationships with business unit vendors to ensure the highest quality of service and cost-efficiency. Works closely with cross-functional teams to evaluate vendor capabilities, participating in the contract negotiation process, monitoring vendor performance, collaborating with internal teams to meet business objectives, and risk mitigation. Plays a crucial role in managing and overseeing the relationships between the Personal Lines organization and its vendors. IN THIS ROLE, YOU WILL: Build and maintain strong relationships with vendors to ensure high-quality service and support. Act as the primary point of contact between the company and its vendors, facilitating communication and collaboration. Work in coordination with Procurement on vendor contracts. Resolve any conflicts or issues that may arise and ensure that vendors are meeting the company's expectations. Maintain compliance with The Hanover’s Procurement and Third-Party Risk Management (TPRM) policies. Manage vendor performance risk by identifying potential issues and implementing mitigation strategies. Collaborate with internal departments to understand their vendor needs and ensure alignment with business goals. Vendor identification, capability evaluation, and selection. This involves conducting thorough assessments of vendors' products, services, and performance. In coordination with Hanover’s Procurement organization, review vendor contracts, setting performance standards, delivery schedules, and payment terms. Also monitor these contracts to ensure compliance and address any issues that arise. Managing costs associated with vendor relationships. This includes coordinating with The Hanover Procurement organization to negotiate favorable pricing and terms, monitoring expenses, and identifying opportunities for cost savings. Ongoing monitoring vendor performance to ensure adherence to agreed standards delivery of quality services. Also address any challenges faced by vendor in meeting standards. Conduct regular vendor reviews and assessments to identify areas for improvement and cost savings. Attend and actively participate in vendor and business operational reviews. Identification of opportunities for improvement and transformation in alignment with business goals. If required, work with vendors to implement corrective actions and improve performance. Prepare and present reports on vendor performance and cost savings to senior management. Ensure compliance with legal, regulatory, and company-specific requirements by conducting audits and address any compliance issues that arise. In alignment with TPRM policies, develop, implement, and maintain governance frameworks to manage vendor relationships effectively. Resource onboarding approvals, access requests, access validation checks, tickets for various compliance checks, invoice payment approvals, etc. Stay updated on industry trends and best practices in vendor management. WHAT YOU NEED TO APPLY: Bachelor’s degree in Business Administration, Supply Chain Management, or a related field. Proven experience as a Vendor Manager or in a similar role; 7+ years of experience preferred. Strong negotiation and contract management skills. Excellent communication and interpersonal skills. Ability to analyze data and make informed decisions. Proficiency in vendor management software and tools. Strong organizational and time-management skills. Ability to work collaboratively with cross-functional teams. Experience with supplier risk management and compliance concepts. Experience with contract management and supplier performance metrics. Strong attention to detail and accuracy. Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint) and experience with vendor management software or procurement systems. Insurance experience is not required, but a desire and ability to develop a solid understanding of the company’s operations and priorities to complement the effectiveness of the role is expected. Strong analytical ability, critical and strategic thinking skills, attention to detail, and project management skills to ensure appropriate execution. Demonstrates The Hanover’s core values of collaboration, accountability, respect, and empowerment. CAREER DEVELOPMENT: It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop. BENEFITS: We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed. Benefits include: Medical, dental, vision, life, and disability insurance 401K with a company match PTO Cultural Awareness Day in support of IDE On-site medical/wellness center (Worcester only) The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law. Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law. As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@hanover.com and include the link of the job posting in which you are interested.
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Director of Vendor Management
in our Worcester, MA location in a hybrid work arrangement. This is a full-time, exempt role. POSITION OVERVIEW: The successful candidate will be responsible for managing and optimizing relationships with business unit vendors to ensure the highest quality of service and cost-efficiency. Works closely with cross-functional teams to evaluate vendor capabilities, participating in the contract negotiation process, monitoring vendor performance, collaborating with internal teams to meet business objectives, and risk mitigation. Plays a crucial role in managing and overseeing the relationships between the Personal Lines organization and its vendors. IN THIS ROLE, YOU WILL: Build and maintain strong relationships with vendors to ensure high-quality service and support. Act as the primary point of contact between the company and its vendors, facilitating communication and collaboration. Work in coordination with Procurement on vendor contracts. Resolve any conflicts or issues that may arise and ensure that vendors are meeting the company's expectations. Maintain compliance with The Hanover’s Procurement and Third-Party Risk Management (TPRM) policies. Manage vendor performance risk by identifying potential issues and implementing mitigation strategies. Collaborate with internal departments to understand their vendor needs and ensure alignment with business goals. Vendor identification, capability evaluation, and selection. This involves conducting thorough assessments of vendors' products, services, and performance. In coordination with Hanover’s Procurement organization, review vendor contracts, setting performance standards, delivery schedules, and payment terms. Also monitor these contracts to ensure compliance and address any issues that arise. Managing costs associated with vendor relationships. This includes coordinating with The Hanover Procurement organization to negotiate favorable pricing and terms, monitoring expenses, and identifying opportunities for cost savings. Ongoing monitoring vendor performance to ensure adherence to agreed standards delivery of quality services. Also address any challenges faced by vendor in meeting standards. Conduct regular vendor reviews and assessments to identify areas for improvement and cost savings. Attend and actively participate in vendor and business operational reviews. Identification of opportunities for improvement and transformation in alignment with business goals. If required, work with vendors to implement corrective actions and improve performance. Prepare and present reports on vendor performance and cost savings to senior management. Ensure compliance with legal, regulatory, and company-specific requirements by conducting audits and address any compliance issues that arise. In alignment with TPRM policies, develop, implement, and maintain governance frameworks to manage vendor relationships effectively. Resource onboarding approvals, access requests, access validation checks, tickets for various compliance checks, invoice payment approvals, etc. Stay updated on industry trends and best practices in vendor management. WHAT YOU NEED TO APPLY: Bachelor’s degree in Business Administration, Supply Chain Management, or a related field. Proven experience as a Vendor Manager or in a similar role; 7+ years of experience preferred. Strong negotiation and contract management skills. Excellent communication and interpersonal skills. Ability to analyze data and make informed decisions. Proficiency in vendor management software and tools. Strong organizational and time-management skills. Ability to work collaboratively with cross-functional teams. Experience with supplier risk management and compliance concepts. Experience with contract management and supplier performance metrics. Strong attention to detail and accuracy. Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint) and experience with vendor management software or procurement systems. Insurance experience is not required, but a desire and ability to develop a solid understanding of the company’s operations and priorities to complement the effectiveness of the role is expected. Strong analytical ability, critical and strategic thinking skills, attention to detail, and project management skills to ensure appropriate execution. Demonstrates The Hanover’s core values of collaboration, accountability, respect, and empowerment. CAREER DEVELOPMENT: It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop. BENEFITS: We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed. Benefits include: Medical, dental, vision, life, and disability insurance 401K with a company match PTO Cultural Awareness Day in support of IDE On-site medical/wellness center (Worcester only) The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law. Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law. As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@hanover.com and include the link of the job posting in which you are interested.
#J-18808-Ljbffr