Specialist - Vendor Relationship

Global Procurement & Payment (GPP) function at Sun Life is establishing a Global Vendor Relationship team as a result of continuously forming strategic relationship with key vendors and monitoring the risks related to vendors. This is to ensure compliance to regulatory requirements on vendor management and strengthen Sun Lifes strategic partnerships.

This role is to manage medium risk and high spend categories across Sun Life to cover key vendors in categories, such as Medical Operations, Business Operations, HR, etc.

This role reports to Sr Manager, Global Procurement & Payment.

What you will do:

• Relationship Management: Act as a key liaison between internal teams and external vendors to foster collaborative partnerships. Understand business needs and develop and maintain strong relationships with stakeholders (legal, risk, finance, etc.) Collaborate with GPP Category & Sourcing.
• Data collection, dashboarding and reporting: Collect various data elements but not limited to service overviews, Spend, Contract renewal and expiry, Contractual obligation requirements, surveys, external market data events, risk for holistic view on Vendor performance.
• Financial & Cost Management: Monitor invoice alignment to contract, ensure service credits are received/applied.
• Contract Lifecycle Management: Managing contract renewals including Master, and terminations, ensuring compliance with Sun Life Standards .
• Risk & Compliance: Identify and mitigate operational risks associated with third-party providers, ensuring compliance with policies.
• Process Improvement: Identify opportunities to optimize vendor services, enhance efficiency, and reduce costs by leveraging including but not limited to data, stakeholder feedback and external sources.

What you will need to succeed:

• Relevant Industry Experience: A background in IT Software, IT infrastructure, Finance/Insurance Operations is preferred.
• Supplier & Stakeholder Relationship Management: Exceptional interpersonal skills to build and maintain trust-based relationships with both our vendors and internal stakeholders, fostering collaboration, alignment, and continuous improvement.
• Contract Management Expertise: Demonstrable post-deal contract management experience, including ensuring adherence to contract terms and managing a portfolio of contracts renewal.
• Risk & Compliance Management: Experience identifying, assessing, and mitigating risks while ensuring compliance with legal, risk, information security and other standards.
• Analytical and Problem-Solving Skills: A proven ability to interpret data, identify trends, and resolve issues to improve performance and enhance supplier efficiency.
• Commercial Acumen: Proven ability to deliver cost efficiency and added value from contract management, with a sound understanding of financial and business principles.

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• Communication: Solid communication skills (Verbal & written) and experience working with global counterparts in North America and Asia.
• Mindset of Continuous Improvement.

Job Qualifications:

• 4 years + experience in vendor management and/or procurement , supplier contracting, risk assessment, information security review process is required.
• Project Management skills
• Clear, concise, and influential verbal and written communication skills are required
• Strong problem solving skills required
• University or college degree in Business Management, Economics, Finance, IT, or a related field; MBA is a plus.