Director - Vendor Governance

What You'll DoThe Director, Vendor Governance is responsible for the oversight and ongoing management of key third-party supplier relationships within the Retirement and Income Solutions business unit!  Serves as the day-to-day contact within the business for key strategic supplier relationships. Responsible for performance management against vendor contracts and service level agreements, issue remediation, third-party value realization and internal engagement and supplier communications.Coordinates major strategic supplier relationships for the Retirement & Income Solutions (RIS) business unit in accordance with enterprise third-party policies and procedures. Ensures that suppliers are meeting business unit goals, service levels within negotiated cost and performance standards. Develops management plans to supervise the relationships and builds risk management structures to ensure that third-party risk is continually assessed and mitigated. Performs ongoing due diligence of the suppliers including, but not limited to, financial reviews, audit reviews, on-site inspections, and information security and data privacy assessments.Establishes a communication cadence and leads executive monthly/quarterly business reviews with partners and suppliers. Works with third-party relationship leads to prepare materials and scorecards and is accountable to resolve action items following the reviews. Actively prepares for and participates in senior leadership and enterprise supplier governance meetings to ensure that strategic supplier goals, results and action plans are well understood by key partners. Serves as the key customer concern point for supplier issues. Works closely with internal collaborators and supplier to develop root cause analyses, remediate issues, and formulate action plans for required remediation activities.Accountable for supervising strategic supplier vendor spend through diligent review of invoices, identification of cost-savings opportunities and proactive work with business leads to drive down vendor spend. Owns the business performance credit process for missed service level agreements.Working closely with Sourcing & Procurement, serves as the business lead for all new engagements with the assigned strategic suppliers. Coordinates new engagements and contract renewals and serves as the liaison for expedient RIS business decision-making. Establishes key performance measures, service level agreements, and business processes for suppliers. Consults with internal Procurement and Legal teams on final business negotiation termsMentor and train other RIS business vendor engagement managers to drive consistency in third-party governance processes for non-strategic third-party relationships. Develop formal program to ensure that these businesses are compliant with enterprise policies and practices.Who You AreBachelor's degree or equivalent experience plus 8+ years of vendor management and/or procurement experience requiredKnowledge of the financial services and retirement industry strongly preferredOutstanding analytical skills and financial competence; demonstrated experience managing a large expense budget to targets and driving continuous operational efficiencyExcellent ability to build first-line business risk and control practices, governance models, and training programs related to supplier management functionsStrong interpersonal and matrix leadership skillsAbility to solve interpersonal challenges using a strategic and risk-smart approachDemonstrated strong oral, written communication and presentation skills across multifaceted audiences and senior level partners, including strong influencing and negotiating skillsSalary Range InformationSalary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)$137000 - $185000 / year Time Off ProgramFlexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided. Pension EligibleYes Additional InformationWork EnvironmentsThis role offers in-office, hybrid (blending at least three office days in a typical workweek), and remote work arrangements (only if residing more than 30 miles from Des Moines, IA, or Charlotte, NC). You’ll work with your leader to figure out which option may align best based on several factors.Work Authorization/Sponsorship At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.Nonimmigrant Workers and Green Card for Employment-Based ImmigrantsInvestment Code of Ethics For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.Experience Principal At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our employees. And we support our employees the same way we support our customers: with comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being. Check out our careers site to learn more about our purpose, values and benefits.Principal 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, disability, or veteran status.Posting WindowWe will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline. Original Posting Date6/7/2024 Most Recently Posted Date8/14/2024 LinkedIn Remote Hashtag#LI-RemoteJob type: FULL TIMECategories: Compliance & Risk