Senior Analyst, Procurement and Vendor Management

Career Opportunity

Role Title

Senior Analyst Procurement and Vendor Management

Purpose of role

The Senior Analyst Procurement & Vendor Management reports to the Senior Manager and plays a key role in driving end-to-end contract management activities across the organization. This includes managing the contract lifecycle from intake through negotiation execution renewal and ongoing governance ensuring alignment with business objectives compliance requirements and risk management standards.

In addition to contract management the role supports IT software and licensing management third-party risk management vendor relationship management reporting and sourcing initiatives (RFx).

The position operates in a highly consultative and stakeholder-facing capacity requiring strong communication and interpersonal skills to effectively engage with business units Legal Risk and external vendors. The Senior Analyst is responsible for facilitating clear timely and effective communication throughout the procurement and contracting lifecycle enabling informed decision-making and ensuring successful outcomes. The role also contributes to strengthening vendor relationships and advancing strategic partnerships across the organization.

Job Description

Key Responsibilities

• Oversee and triage the Procurement & Vendor Management mailbox ensuring all requests are acknowledged and actioned within one (1) business day including contract intake and submission to Legal routing sourcing requests to the Senior Manager and coordinating changes to existing services
• Lead and facilitate weekly contract review meetings with Legal ensuring effective contract assignment timely progression and adherence to established governance processes
• Support contract lifecycle management by leveraging standard templates and approved legal and business provisions to ensure consistency efficiency and risk mitigation
• Provide value-added insight throughout the contracting process by incorporating business context and partnering closely with Legal to ensure contractual terms are commercially sound and aligned with organizational objectives
• Coordinate the contract execution process including facilitating approvals obtaining sign-off and ensuring proper documentation and storage within designated systems
• Identify and drive cost optimization and efficiency opportunities including sourcing alternative vendors supporting competitive bidding processes and contributing to contract renegotiations to maximize value
• Proactively monitor and coordinate the contract lifecycle within ProcessUnity including tracking key milestones and renewal timelines; engage with business units and stakeholders to assess upcoming renewals and determine whether sourcing or renegotiation activities are required
• Maintain an up-to-date register of procurement and vendor management activities ensuring data accuracy and visibility; prepare and deliver weekly contract activity reports to applicable stakeholders to support tracking transparency and informed decision-making
• Support and participate in vendor and contract negotiations including software and service agreements for both new engagements and renewals; collaborate closely with Senior Manager to drive optimal commercial outcomes mitigate risk and ensure alignment with business objectives
• Proactively monitor and coordinate IT software and licensing management processes including maintaining accurate inventories tracking renewals reconciling entitlements with usage and ensuring compliance with contractual terms and licensing agreements
• Support financial planning activities related to software spend including budgeting forecasting and variance analysis in collaboration with Finance IT and business stakeholders
• Partner with Senior Manager to optimize software procurement strategies including evaluating licensing models (e.g. subscription vs. perpetual SaaS vs. on-premise) supporting vendor negotiations and identifying opportunities for cost optimization and demand management
• Ensure effective governance of software assets and vendors including managing renewals tracking true-ups and supporting audit readiness to mitigate financial and compliance risk
• Support third-party risk management (TPRM) in a consultative capacity ensuring all new procurement requests are effectively guided through the required process with appropriate due diligence risk assessments and approvals completed prior to contract execution
• Support business unit stakeholders in completing TPRM requirements including assessments documentation and workflow activities within the platform ensuring compliance and smooth progression through the procurement lifecycle
• Support all aspects of the vendor relationship with a variety of vendors (i.e. contractual adherence SLA management renewals some operational issues and issue escalation)
• Participate and coordinate vendor governance and spend analysis reporting
• Support end-to-end sourcing activities (RFx) from initiation through post-implementation partnering with the Senior Manager to ensure alignment with business requirements timelines and procurement objectives
• Coordinate RFx communications including scheduling and facilitating meetings with vendors and internal stakeholders and ensuring timely clear and consistent engagement throughout the sourcing process
• Contribute to vendor evaluation and selection processes including supporting proposal analysis scoring and recommendations to drive informed decision-making and optimal commercial outcomes

Key Qualifications

• Education (Minimum Required): University or College

• Experience(Minimum Required): 47 years of experience in procurement sourcing or vendor management

• Experience with procurement/TPRM platforms (e.g. ProcessUnity Workday or similar systems)

• Experience supporting enterprise-level procurement functions (e.g. contracts sourcing third-party risk management vendor governance)

• Contract Management: Strong understanding of contract lifecycle (drafting negotiation support renewals compliance tracking)

• Strategic Sourcing: Experience supporting end-to-end sourcing activities (RFx development evaluation vendor selection)

• Third-Party Risk Management: Familiarity with due diligence risk assessments and governance processes prior to contract execution

• Vendor Relationship Management: Experience managing vendor interactions performance and ongoing governance

• Bachelors degree in Business Supply Chain Finance or a related field

• Proven ability to:

• Work cross-functionally with business units Legal Risk and Compliance

• Facilitate procurement processes in a consultative manner

• Strong written and verbal communication skills

• Highly organized and detail oriented with strong follow through.

• Strong judgment decisionmaking and problemsolving skills.

• Experience working within documented processes guidelines or policy frameworks

• Experience in financial services or highly regulated environments

• Experience with software licensing / IT procurement

• Strong technical and process orientation with experience leveraging procurement and risk platforms and the ability to design and document process workflows (e.g. flowcharts) and define track and report on key performance indicators (KPIs) to drive operational efficiency and continuous improvement

• Preferred: Purchasing certifications

#LI-Hybrid

Salary Range:

$65000.00 - $95000.00

The actual base salary for this position will depend on several factors including job-related skills experience and addition to base pay eligible employees may participate in a discretionary variable incentive plan results are subject to both individual and company performance.

Please note that this posting is intended to fill an existing vacancy; however there may be instances where more than one vacancy is available for the same role.

Equal Opportunity Employment and Inclusion at Foresters Financial we are committed to sustaining an equal opportunity environment for all job applicants. We embrace Inclusion Diversity and Equity (IDE) as a core strategic objective for building strong innovative teams in which all our employees can show up wholly and authentically as themselves.

Foresters Financial strives to provide an accessible candidate experience for prospective employees with different abilities. If you anticipate needing any type of accommodations during the recruitment process please email in advance of your appointment.

Thank you for choosing Foresters. Only those candidates who will be selected for further consideration will be contacted by our Talent Acquisition Team.

Required Experience:

Senior IC

Employment Type : Full-Time
Experience: years
Vacancy: 1
Monthly Salary Salary: 65000 - 95000