Vendor Manager

Job Overview:

The Vendor Manager is responsible for overseeing and managing the relationships with search partners provide services to FNAS. This role ensures that vendor partners meet or exceed their contractual obligations and deliver high-quality services. The Vendor Manager will work closely with internal departments to understand their needs, source appropriate vendor partners, negotiate contracts, and monitor vendor partner performance.

Key Responsibilities:

·        Vendor Selection and Onboarding: Identify potential vendors through market research and industry networking. Evaluate vendor capabilities, quality standards, and compliance with regulatory requirements. Facilitate the onboarding process including contract negotiation and agreement finalization.

·        Contract Management: Develop, review, and manage contracts with vendors to ensure favorable terms for the company. Ensure all contractual obligations are met by both parties. Maintain an up-to-date database of all vendor contracts and agreements.

·        Performance Monitoring: Establish key performance indicators (KPIs) for vendor performance evaluation. Conduct regular reviews of vendor performance against KPIs. Implement corrective actions if vendors fail to meet performance standards.

·        Relationship Management: Serve as the primary point of contact between the company and its vendors. Foster strong working relationships with key vendors to ensure long-term partnerships. Address any issues promptly to maintain positive vendor relations.

·        Cost Management: Analyze cost structures and negotiate pricing to achieve cost savings without compromising service quality. Monitor expenditures related to vendor services to ensure they remain within budget.

·        Compliance and Risk Management: Ensure that all vendors comply with industry regulations, company policies, and legal requirements. Assess risks associated with vendor relationships and develop mitigation strategies.

·        Collaboration with Internal Teams: Work closely with internal departments such as Legal, Finance, IT, and Operations to understand their needs for external services. Provide support in sourcing specialized services required for various projects.

·        Continuous Improvement: Continuously seek opportunities for improving procurement processes. Stay updated on industry trends, new technologies, and best practices in vendor management.

Qualifications:

·        Minimum of 5 years of experience in vendor management or procurement roles within the title insurance industry

·        Strong negotiation skills with a proven track record of achieving cost savings while maintaining quality service levels.

·        Excellent communication skills (both written and verbal) for effective interaction with vendors and internal stakeholders.

·        Demonstrated ability to manage multiple projects simultaneously while maintaining attention to detail.

·        Competency in strategic thinking, problem-solving, relationship building, analyzing data, attention to detail and time management.

·        Proficiency in using ResWare.