Senior Sourcing and Vendor Management Analyst *Finance Focused / Relocation Opportunity*

Date: Jun 12, 2024

Location: Erie, PA, US, 16530

Company: Erie Insurance

Division or Field Office:

Office of the CFO

Department of Position: Treasury Department 

Work from:

Corporate Office, Erie PA
Salary Range:

$85,247.00 - $136,175.00 *

salary range is for this level and may vary based on actual level of role hired for

*This range represents a national range and the actual salary will depend on several factors including the scope and complexity of the role and the skills, education, training, credentials, location, and experience of an applicant, as well as level of role for which the successful candidate is hired. Position may be eligible for an annual bonus payment.

 

At Erie Insurance, you’re not just part of a Fortune 500 company; you’re also a valued member of a diverse and inclusive team that includes more than 6,000 employees and over 13,000 independent agencies.  Our Employees work in the Home Office complex located in Erie, PA, and in our Field Offices that span 12 states and the District of Columbia. 

Benefits That Go Beyond The Basics

We strive to be Above all in Service® to our customers—and to our employees. That’s why Erie Insurance offers you an exceptional benefits package, including:

  • Premier health, prescription, dental, and vision benefits for you and your dependents. Coverage begins your first day of work.
  • Low contributions to medical and prescription premiums. We currently pay up to 97% of employees’ monthly premium costs.
  • Pension. We are one of only 13 Fortune 500 companies to offer a traditional pension plan. Full-time employees are vested after five years of service.
  • 401(k) with up to 4% contribution match. The 401(k) is offered in addition to the pension.
  • Paid time off. Paid vacation, personal days, sick days, bereavement days and parental leave.
  • Career development. Including a tuition reimbursement program for higher education and industry designations.
     

Additional benefits that include company-paid basic life insurance; short-and long-term disability insurance; orthodontic coverage for children and adults; adoption assistance; fertility and infertility coverage; well-being programs; paid volunteer hours for service to your community; and dollar-for-dollar matching of your charitable gifts each year.

 

Position Summary

  • Economics, financial, and/or accounting background preferred.
  • The Hiring Manager will also consider candidates for the Sourcing & Vendor Management Analyst II position (F11) or Consultant.  Level of position offered will be based upon the depth and breadth of selected candidate's experience and qualifications.
  • This position is in Erie PA so this is a great opportunity for relocation for those candidates outside of the Erie, PA area.  Comprehensive relocation benefits and assistance may be available to those that qualify.

 

 

Establishes critical business and/or IT relationships with leadership structures to support, develop and implement sourcing and vendor management initiatives that align to successful obtainment of organizational objectives.  Conducts vendor performance analysis and management in collaboration with risk management and category stakeholders to maintain and improve performance delivery expectations.  Support and/or lead negotiation and bidding strategies along with commercial agreement efforts in order to deliver value-add opportunities based upon current and future business needs.
This position will have a focus on vendor relationship and performance management, contract development, agreement negotiations, and strategy development.

Duties and Responsibilities

Develops and leverages a broad view of commercial agreements with vendors to obtain terms and cost structures on behalf of business and/or IT stakeholders. Utilizes industry knowledge and vendor relationships to create enterprise-wide goods and/or services efficiencies and cost improvement opportunities.

Leverages historical knowledge and experience to effectively guide business and/or IT leadership through the commercial agreement development and execution process, regardless of document type or category.

Effectively navigates all aspects of negotiating complex agreements, and applies well-informed guidance, both internally and externally, towards the development and agreement of value-add, favorable terms and conditions.

Work cross-functionally throughout the organization to develop and collaboratively manage vendor relationships and performance, that span multiple business categories and segmentation types.

Takes appropriate actions, both internally and externally, to positively manage vendor performance expectations and to drive innovation, cost savings and business continuity programs.

Assists in the negotiation, implementation and enforcement of vendor performance guidelines, obligations and service level agreements to the organization. 

Coaches and trains team members and stakeholders on how to apply strategies that develop effective, value add interventions, and the use of metrics to drive results and maintain effective vendor relationships.

Leads negotiation teams and coach/train others in developing and adapting negotiation skills.  Leverages industry analysis and research to support negotiation efforts.

Adapts negotiation style and tactics based upon the organizational need to deliver the best results that align with the desired intent and stakeholder objective(s).  

Identifies, develops, and leads sourcing strategy initiatives. Partners with key business and/or IT stakeholders to define and implement effective, long-term opportunities to support the organization and collaboratively works towards strategy support.

Performs market research, evaluates financial drivers and conducts industry benchmarking to analyze trends and gather information that will support internal stakeholders, identify best practices, reduce costs, and develop value-add sourcing strategies.

Provides advice and leads proactive opportunities for key business and/or IT stakeholders in the use of a competitive bidding event to advantageously assess market conditions that drive improved financial positions for the organization.

Advises on company policies, as well as legal guidelines and contractual best practices when guiding vendors through the organizational principles and standards.

Assists in the governance and risk assessment programs to support business continuity, protection of company assets, and compliance with corporate, contract and regulatory policies.

Completes special projects and leads process improvement initiatives as required.
 

Duties and Responsibilities (cont'd if applicable)

The first six duties listed are the functions identified as essential to the job. Essential functions are those job duties that must be performed in order for the job to be accomplished.

This position description in no way states or implies that these are the only duties to be performed by the incumbent. Employees are required to follow any other job-related instruction and to perform any other duties as requested by their supervisor, or as become evident.

Competencies

Values Diversity
Nimble Learning
Self-Development
Collaborates
Customer Focus
Information Management Skills
Cultivates Innovation
Optimizes Work Processes
Job-Specific Knowledge
Instills Trust
Ensures Accountability
Decision Quality

Qualifications

Minimum Required Education Equivalents: 

Bachelor's degree in business, finance, MIS or related discipline and four years’ experience in purchasing and/or vendor management required; or

Associate's degree in business, finance, MIS or related discipline and six years’ experience in purchasing and/or vendor management required; or 

High school diploma or GED and eight years’ experience in purchasing and/or vendor management required. 

Working knowledge of word processing, spreadsheet and project management software required. Strong knowledge of purchasing regulations and laws required. Familiarity and technical competence in purchasing management software or automated procurement systems required. Strong working knowledge of insurance industry preferred. Knowledge of contract’s relationship to financial/operation reporting preferred.

Physical Requirements

Lifting/Moving 0-20 lbs; Occasional (<20%)
Lifting/Moving 20-50 lbs; Occasional (<20%)
Ability to move over 50 lbs using lifting aide equipment; Rarely
Driving; Occasional (<20%)
Pushing/Pulling/moving objects, equipment with wheels; Rarely
Manual Keying/Data Entry/inputting information/computer use; Frequent (50-80%)
Climbing/accessing heights; Rarely


Nearest Major Market: Erie