Job Description
Job Description
We are seeking a detail-oriented and strategic Procurement Specialist to manage vendor relationships, purchasing activities, and contract inventory across the organization. This role is critical to ensuring cost-effective procurement of goods and services and third party risk management, operational efficiency, compliance, and company growth.
DUTIES & RESPONSIBILITIES
- Develop and implement procurement strategies aligned with company goals and regulatory requirements.
- Partner with departments to manage the end-to-end procurement process, including RFPs, vendor selection, contract negotiation, and purchase order management.
- Maintain a centralized and up-to-date contract inventory, ensuring all vendor agreements are properly documented, tracked, and renewed in a timely manner.
- Collaborate with Legal, IT, and Finance teams to ensure contracts meet regulatory and operational standards.
- Own and administer the company’s Third-Party Risk Management (TPRM) policy, including vendor due diligence, risk assessments, and ongoing monitoring.
- Identify and mitigate risks associated with third-party relationships, including data security, financial stability, and regulatory compliance.
- Identify opportunities to streamline procurement workflows and implement automation tools to improve efficiency and accuracy
- Monitor market trends and pricing to identify cost-saving opportunities.
- Ensure procurement activities comply with internal policies and industry regulations.
- Maintain accurate records of purchases, pricing, and vendor performance.
- Provide procurement data and insights to support budgeting and forecasting
- Assist the Director of Finance, Controller and Treasurer with special projects, such as testing applications, automating accounting systems, compiling information for special reports.
- Performs other duties or special projects as required or as assigned.
SUPERVISION RECEIVED
Minimal supervision is required from the Director of Finance, Controller or Treasurer, or other senior executives. Receives assignments and is monitored on a weekly or several times a month basis. Performs many routine duties without specific direction. Follows overall standard policies and procedures.
QUALIFICATIONS
- Bachelor’s degree in Business, Finance, Supply Chain Management, or related field.
- 3–5 years of experience in procurement, preferably within the insurance or financial services industry.
- Strong negotiation, organization, and communication skills.
- Experience managing contract databases and third-party risk frameworks.
- Excellent interpersonal skills providing the ability to work effectively with other company personnel, as well as vendors and others outside the company.
- Proficient with PC applications, including Microsoft Outlook, Word and Excel
PHYSCIAL DEMANDS/WORKING CONDITIONS
- Predominately sedentary office position with high frequency of keyboarding/computer work required.
- The physical demands are minimal and typical of similar jobs in comparable organizations.
- The work environment is representative and typical of similar jobs in comparable organizations.
The salary range reflected is a good faith estimate of base pay for the position. In addition to base salary, this role is incentive compensation and benefits eligible, and individual salary will ultimately be determined based on individual experience, skills, qualifications and geographic location.