VP of Vendor Management & Compliance

Company OverviewFanatics is building a leading global digital sports platform. The company ignites the passions of global sports fans and maximizes the presence and reach for hundreds of sports partners globally by offering innovative products and services across Fanatics Commerce, Fanatics Collectibles, and Fanatics Betting & Gaming, allowing sports fans to Buy, Collect and Bet. Through the Fanatics platform, sports fans can buy licensed fan gear, jerseys, lifestyle and streetwear products, headwear, and hardgoods; collect physical and digital trading cards, sports memorabilia, and other digital assets; and bet as the company builds its Sportsbook and iGaming platform. Fanatics has an established database of over 100 million global sports fans, a global partner network with over 900 sports properties, including major national and international professional sports leagues, teams, players associations, athletes, celebrities, colleges, and college conferences, and over 2,000 retail locations, including its Lids retail business stores.As a market leader with more than 18,000 employees, and hundreds of partners, suppliers, and vendors worldwide, we take responsibility for driving toward more ethical and sustainable practices. We are committed to building an inclusive Fanatics community, reflecting and representing society at every level of the business, including our employees, vendors, partners and fans. Fanatics is also dedicated to making a positive impact in the communities where we all live, work, and play through strategic philanthropic initiatives.Job OverviewThe Vice President of Vendor Management & Compliance is responsible for developing and executing vendor management strategies that align with the organization's goals and objectives. They lead a team in overseeing vendor relationships, negotiating contracts, and ensuring vendor performance meets or exceeds expectations. They play a critical part in optimizing vendor relationships, driving cost efficiency, and enhancing the organization's competitive advantage.ResponsibilitiesRisk & Relationship Management: Identify potential risks associated with vendor relationships and develop mitigation plans to ensure business continuity and data security.Leverage reporting tools to ascertain a holistic view of risk, append and performance metrics.Cultivate and maintain positive, collaborative relationships with key vendors, fostering long-term partnerships that benefit both parties.Maintain comprehensive records of all interactions and agreements.Vendor Strategy Development: Develop and execute strategic vendor management plans that align with the organization's objectives, including cost optimization, quality assurance, and risk mitigation.Vendor Selection and Evaluation: Identify and evaluate potential vendors based on their capabilities, pricing, and alignment with the company's values and goals.Direct the onboarding and establishment of a dedicated relationship management program with the vendor.Oversee contract negotiations to secure favorable terms and conditions, ensuring that vendor agreements are in the best interest of the organization.Successfully negotiate agreements, pricing, etc. for cost savings for the company.Manage vendor costs effectively, optimizing contracts and agreements to achieve cost savings and value for the organization.Vendor Performance Management: Establish key performance indicators (KPIs) and conduct regular assessments of vendor performance.Collaborate with vendors to address issues and improve performance as needed.Encourage the vendor to bring new ideas and innovations to the table.Develop strategies to better procure and manage the lifecycle of the company’s strategic vendor relationships.Compliance and Governance: Ensure that vendor relationships adhere to all applicable laws, regulations, and organizational policies.Implement governance frameworks to monitor compliance.Team Leadership: Lead and mentor a team of vendor management professionals, providing guidance, support, and professional development opportunities.Reporting and Analysis: Generate reports and analytics to measure vendor performance, cost savings, and key metrics for executive review.Continuously gather feedback from various stakeholders, including internal teams and end-users.Perform other job-related functions as assigned.QualificationsBachelor's Degree strongly preferred.10+ years’ experience in vendor management and/or procurement; preferably within the retail sector.Strong, effective communication skills in standard as well as complex environments/situations.Experience working with senior management (customers, suppliers or internal).Budgetary experience, particularly geared to aggressively managing Direct Cost items, deep understanding of margins and profitability, experience with supply chain.Successful track record showing ability to work with a team to set strategic direction aligned with business goals with a clear execution plan and activity.Strong people and project management skills are essential.

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