IT Vendor Management Strategist

Head of IT Vendor Management Office

KEY ASK - WE ARE LOOKING FOR A Strong Candidate with Exceptional Vendor Strategy and Relationship. This role is for a Strategist and not a Operational role

Job Summary

The position is responsible for leading, managing and optimizing the IT Vendor Management efforts with focus on O utsourcing and V endor strategy.

This role requires a seasoned professional with deep experience in Vendor Strategy, location strategy, vendor relationships, vendor performance management, total cost of ownership (TCO) improvements and right-sourcing.

As the Head of VMO, you will need to develop a deep understanding of our Client Global IT Strategy, mapping this to the existing vendor ecosystem, identifying need for new partners or new capabilities within existing partners that help with meeting our IT vision and goals.

You will collaborate with various IT pillars with a focus on their IT roadmap and driving

strategic partnership where the outsourced partner becomes an able extension of the IT team to deliver in a secure, predictable, and reliable manner.

You will collaborate closely with the Procurement, IT Finance, IT Portfolio Management, and IT Talent & Culture team to ensure alignment of outsourced relationship to our fiscal goals as well as Talent and Culture goals.

Job Responsibilities

IT Outsourcing, Vendor, and Location Strategy :

• Develop and implement vendor strategies aligned with IT Vision and Goals, ensuring optimal sourcing decisions, and fostering long-term partnerships with strategic vendors.
• Annually review the current relationship based on vendor partner performance metrics, spend, and feedback from IT departments to assess vendor mix.
• Analyze market trends, costs, and business requirements to develop effective location strategies for vendor operations, including outsourcing and offshoring initiatives.
• Conduct TCO analysis for vendor relationships, evaluating both direct and indirect costs to inform decision-making and optimize cost efficiency.
• Identify opportunities for right-sourcing, balancing in-house capabilities with external vendor partnerships to optimize resource allocation and enhance IT agility.
• In collaboration with VMO Operations Lead, establish performance metrics, implement process for monitoring of the vendor performance against SDF’s, and implement corrective actions as necessary to ensure service excellence and continuous improvement.

VMO Operations Lead will own the execution of this while oversight and guidance provided by the Head of VMO)

Cross-functional Collaboration, and Relationship Management :

• Cultivate strong relationships with vendors, fostering open communication, collaboration, and mutual trust to drive innovation and value creation.
• Experience in establishing Strategic Vendor relationships focused on multi-year deals.
• Lead contract negotiations, ensuring favorable terms and conditions while mitigating risks, and oversee contract compliance throughout the vendor lifecycle.
• Collaborate closely with internal stakeholders, including IT Finance, Procurement, Legal, IT Pillars, and respective Business Units stakeholders (as needed), to align vendor management activities with broader business strategies and objectives.

Job Requirements :

• Bachelor’s degree in business administration, Supply Chain Management, or a related field; MBA or equivalent preferred.
• 15+ years of progressive experience in vendor management, with a focus on vendor relationship management, vendor performance management, and strategic sourcing,
• Proven track record of developing and implementing successful vendor strategies that drive business value and competitive advantage.
• Strong analytical skills, with the ability to conduct TCO analysis and make data-driven decisions.
• Exceptional communication and negotiation skills, with the ability to influence stakeholders at all levels of the organization.
• Demonstrated leadership experience, with the ability to lead cross-functional teams and drive results in a dynamic environment.
• Proficiency in vendor management tools and technologies, with experience in contract management systems preferred.
• Strong understanding of relevant regulations and compliance requirements in vendor management
• Business domain knowledge of Insurance and / or Reinsurance or Financial Services in general will be an added advantage.
• Understanding of IT Services outsourcing, Software Development Lifecyle, IT Infrastructure, type of contracts (T&M, Fixed Priced and Managed Services), Onshore, Offshore and Nearshore models.
• Ability to advise and manage expectations of stakeholders, earning trust and building durable relationships.
• Ability to collaborate with various stakeholders.
• Self-starter, ownership, and accountability driven, collaborative and having ability to work through uncertainties.

Position Reports To : Head of Technology Enablement Services