IT Vendor Manager

Job Description

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our Client Centric, Risk Centric and Technology Centric strategies

Built to be resilient, Ascot offers clients leading financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Position Summary

Join our dynamic team at Ascot Group as an IT Vendor Manager reporting to the SVP, IT Strategy and Transformation in the Office of the Chief Information Officer (OCIO). As an integral member of our Information Technology (IT) department, you will play a crucial role in overseeing and optimizing relationships with external technology vendors. In this position, you will be responsible for managing the entire vendor lifecycle, from selection and onboarding to performance evaluation and contract renewal.

Key Responsibilities

• Vendor Selection and Evaluation: Collaborate with cross-functional teams to identify and evaluate potential IT vendors. Conduct thorough assessments to ensure alignment with business objectives, technical requirements, and compliance standards.
• Contract Negotiation and Management: Lead contract negotiations to secure favorable terms and conditions. Maintain a comprehensive understanding of vendor contracts, ensuring compliance and managing contract renewals, modifications, and terminations.
• Relationship Management: Cultivate strong relationships with existing and prospective vendors to drive mutual success. Act as the primary point of contact for vendor-related issues, fostering effective communication and conflict resolution.
• Performance Monitoring: Establish and maintain key performance indicators (KPIs) to assess vendor performance. Regularly review and analyze vendor deliverables, service levels, and overall quality to ensure alignment with contractual obligations.
• Risk Mitigation: Identify, assess, and mitigate risks associated with vendor relationships. Proactively address issues such as cybersecurity threats, compliance concerns, and other risk factors that may impact the organization.
• Budget Oversight and Cost Optimization: Collaborate with the finance department to monitor vendor-related expenditures, ensuring alignment with budgetary constraints. Conduct regular cost-benefit analyses to Identify opportunities for cost savings and process improvements.
• Stakeholder Collaboration: Work closely with internal stakeholders, including IT teams, legal, procurement, and business units, to align vendor strategies with overall business objectives.
• Technology Trends Awareness: Stay abreast of industry trends, emerging technologies, and best practices related to IT vendor management. Provide recommendations for incorporating innovative solutions into the vendor management process.
• Communication and Reporting: Provide regular updates to internal stakeholders on vendor performance and related initiatives and prepare reports and presentations on vendor management activities.
• Policy and Procedure Development: Develop and implement vendor management policies and procedures and ensure compliance with industry best practices and relevant regulations.
• Commit to The Ascot Way: As a member of the IT organization, the IT Vendor Manager will embody The Ascot Way in their daily interaction with colleagues, fostering colleague engagement and development, collaboration, inclusivity, and individual accountability.
  
  

Requirements

• Bachelor's degree in Information Technology, Business Administration, or a related field.
• A minimum of 5 years of experience in an IT vendor management or procurement role.
• Proven experience in IT vendor management, procurement, or related roles.
• Strong negotiation skills and experience in contract management.
• In-depth understanding of IT procurement processes and vendor evaluation criteria.
• Excellent communication and interpersonal skills.
• Ability to analyze complex situations, think strategically, and make informed decisions.
• Familiarity with regulatory requirements and compliance standards in the insurance sector.
• This position may be filled at a different level, depending on experience***
  
  

Compensation

Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot’s total compensation package for employees. Other rewards may include annual cash bonus, long-term incentives, and other forms of discretionary compensation awarded by the Company. The annualized base pay range for this role is: $135,000 - $155,000.

Company Benefits

The Company provides a competitive benefits package that includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)

Retirement Benefits: Contributory Savings Plan (401k)