Supplier Relationship Manager
The Opportunity
As a Supplier Relationship Manager, you will partner closely with teams in the MassMutual Procurement Organization and cross-functional stakeholders to ensure that our supplier relationships are being optimized across multiple facets including innovation, value realization, continuous improvement and risk mitigation.
The Team
The team is comprised of seasoned Supplier Relationship Manager professionals with experience in procurement. The broader procurement team in a rapidly developing and growing group of procurement professionals who are excited about transformation and improving procurement. The team understands the challenges of transformation and is capable of building and managing at the same time. The team is also highly collaborative and supportive, with development & training support available.
The Impact:
Do you constantly scan the internal and external environments for factors, trends, and patterns that may affect the organization's business? Do you enjoy working with teams to establish a clear mission and goals? Would you like to be a steward of MassMutual's resources and reputation? If so keep reading!
Your day to day would look like but is not limited to the below:
Internal Relationship Building
This role requires a strong and seamless working relationship with MassMutual enterprise stakeholders and the ability to be the ‘go-to' resource for all business and functional areas when it comes to working with our suppliers
Actively engage internal stakeholders across the enterprise to ensure frequent communication and alignment on overall MassMutual supplier management strategies and strategic supplier specific strategies.
Serve as the supplier relationship champion and expert of strategic supplier relationships under your supervision.
Communicate supplier strategies, associated risks, and value creation effectively to leadership both within and outside of Procurement
General Strategy Management
Conduct competitive market research as relates to your assigned area(s) of responsibility and share insights with colleagues both within and outside of Procurement
Assist in contract development or negotiations with knowledge of key SLAs/OLAs, KPIs, pricing specific to your areas of responsibility
Managing Strategic Suppliers
Work with suppliers, internal stakeholders across the enterprise and Enterprise Risk Management to ensure accurate and timely completion by suppliers of core Risk documentation
Manage the due diligence process including sending applicable due diligence assessments to supplier for completion, sending reminders to suppliers if assessment deadline isn't met, reviewing supplier's completed due diligence questionnaires and supporting documents for the proposed product/service
Coordinate with cross-functional teams to ensure key contracting elements, including service level agreement components and evaluation process are aligned and included in the draft contract before passing to Legal for review
Support Procurement in preparation for and facilitating of contract negotiations and oversee the overall contracting process from a supplier experience and quality standpoint
Lead supplier onboarding activities, including, but not limited to, coordinating supplier training, granting system access and ensuring that the supplier is familiar with their main contacts within MassMutual
Determine and lead appropriate supplier specific ongoing monitoring plan (operational business review meetings, executive oversight meetings, issue management reviews, performance scorecarding, contract management reviews, risk management reviews etc.)
Lead investigations on all supplier issues by working with relevant internal stakeholders and help the supplier to resolve issues efficiently. Loop in appropriate MassMutual teams if risk profile or contract updates become necessary
Work closely with the Business Units to align on company-wide supplier management strategies
Manage the supplier offboarding process once the Business Owner initiates the termination request. Work with all relevant stakeholders to ensure that the supplier access to MassMutual data and systems are terminated appropriately, supplier list is updated and all stakeholders are informed
The Minimum Qualifications
8+ years of professional working experience that required building strong relationships with stakeholders and partners
Strong financial acumen and understanding of how supplier spend relates to company results
Demonstrated excellent qualities in verbal and written communication, facilitate meetings, project management, organizational and time management skills
Strong understanding of financial services regulatory environment and guidelines
Team player at executive levels who collaborates with business units and functional partners (i.e., IT, finance, HR, legal)
Strong presence with stakeholders and the ability to effectively influence across teams
Proven ability to deliver on objectives, projects, and initiatives; with courage to enact change across the organization in the face of adversity
Both think and act strategically; Demonstrate strong judgment in decisions
Lead through transition; Communicates the vision for the future and provides motivation for people to change; Address questions and resistance to change with confidence and an understanding of what is needed for buy-in
Works independently and with management on highly visible, divisional/cross-divisional complex projects
Enhances supplier relationships by developing and driving for continuous improvement
The Preferred Qualifications
Experience in leading company-wide initiatives that involve multiple Business Units
Involvement in conducting industry-specific research
Possesses a strong understanding and prior working experience in supplier management activities including performance management (SLAs, KPIs etc.), relationship management, contracting and risk management
Has a thorough knowledge of supplier management best practices and trends, specifically in the financial services industry
Knowledge and experience operating in an industry best practice procurement organization
What to Expect as Part of MassMutual and the Team
Regular meetings with the Supplier Relationship Management team
Focused one-on-one meetings with your manager
Access to mentorship opportunities
Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
Access to learning content on Degreed and other informational platforms
Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits
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MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
