A Career of Your Calling

How Is This Role Important to Our Work?

This position is posted at a hierarchy and can be hired at either the Principal Sourcing & Vendor Manager level or Senior Sourcing & Vendor Manager level. The identified candidate will be hired at a level that commensurate with their skills.

Blue Cross Blue Shield of Minnesota is hiring a Principal or Senior Sourcing & Vendor Manager to support our strategic accounts in Eagan, MN. We are seeking a highly skilled and experienced Sourcing and Vendor Management professional to join our team. As a key member of our Business Partnerships and Negotiations department, you will be responsible for vendormanagement, contracting, sourcing, negotiations, and fostering collaboration between our vendors and business partners.  Your expertise in these areas will be crucial in ensuring efficient procurement processes, cost savings, and maintaining strong relationships with our vendors. This individual will work with business units to establish and monitor vendor scorecards, facilitateperformance and strategic business reviews, as well as quantitative and qualitative measures against contracted Service Level Agreements (SLA). They will align to an assigned business portfolio of vendors under the direction of Business Partnerships and Negotiations Leadership.

A successful candidate will have at least 5-7+ years of proven experience in managing strategic vendors, contract negotiations(including redlining of contracts) and a strong executive presence. A background in healthcare Sourcing & Vendor Management is strongly preferred.

This role is hybrid, 2 days a week in office, out of Eagan, MN.

A Day in the Life:

Vendor Management:

• Develop and maintain strong relationships with vendors, fostering effective communication and collaboration.

• Monitor vendor performance, facilitate regular performance and business reviews, and address any issues or concerns.

• Identify opportunities for performance improvement and cost reduction through vendor optimization.

• Works closely with business partners to ensure SLAs, deliverables, compliance requirements and expectations are adequately incorporated into RFXs and vendor contracts to facilitate the management of vendor performance.

• Demonstrates strong communication skills conveying vendor health to Blue Cross Leadership on regular cadence.

Contracting:

• Lead and facilitate most complex RFx events on behalf of Business Partnerships and Negotiations team in collaboration with business leadership.

• Draft, review, and negotiate contracts with varying complexity, purchase orders, and service level agreements with suppliers.

• Ensure that contract terms and conditions are favorable and aligned with organizational goals.

• Mitigate contractual risks and ensure compliance with legal and regulatory requirements.

Sourcing:

• Identify and evaluate potential suppliers based on quality, cost, reliability, and other relevant factors.

• Conduct market research and gain knowledge to become an expert in the specific vendor category, staying informed about industry trends and best practices.

• Collaborate with internal stakeholders to understand their requirements and provide procurement support.Communicates with assigned business partners to ensure they are properly educated on Blue Cross expectations throughout the lifecycle of the relationship.

• Works closely with Business Partnerships and Negotiations Leadership to ensure Relationship Managers understand their contractual requirements for any engagement.

• Establish and monitor vendor scorecards (quantitative and qualitative measures of performance against selected SLAs and metrics) to monitor and manage vendor performance based on a defined set of criteria.

• Provides on-going vendor scorecard reporting and analysis to Relationship Managers and Performance Managers to facilitate their ability to adequately monitor, review and act on vendors operational performance.

• Leads the execution of various vendor management programs, such as quarterly business reviews, semi-annual business portfolio reviews, vendor scorecards, as well as other performance management activities and reporting as required.

• Facilitate regular business reviews with assigned portfolio of vendors to discuss vendor performance reporting, SLAs, deliverables, compliance requirements, other contract expectations, relationship health and improvement plans.

• Provides support to business Executive Leadership, Relationship Managers, and Compliance Managers for problem resolution with assigned Program portfolio vendors.

• Under the direction of the Business Partnerships and Negotiations Leadership, works closely with Business partners to diagnose poor vendor performance and assists to put in place "get well" plans. Jointly with the Leadership facilitates the resolution of escalated vendor-related issues.

Negotiations:

• Partner with Executive Leadership to develop negotiation strategies and execution

• Lead negotiations with suppliers to secure favorable pricing, terms, and conditions.

• Proactively collaborate with senior leadership to identify and drive cost savings initiatives through effective negotiation strategies.

• Collaborate with stakeholders to understand their needs and align negotiation outcomes with organizational objectives.

Collaboration:

• Work closely with cross-functional teams such as operations, finance, compliance, security and legal to ensure seamless procurement processes.

• Collaborate with internal stakeholders to develop and implement procurement strategies that align with business objectives.

• Facilitate effective communication and collaboration between internal teams and external suppliers.

This position is posted at a hierarchy and can be hired at either the Principal Sourcing & Vendor Manager level or Senior Sourcing & Vendor Manager level. The identified candidate will be hired at a level that commensurate with their skills.

Required Skills and Experiences – Principal Level:

• 7+ years of related (vendor management, contract drafting/negotiating) professional experience. All relevant experience including work, education, transferable skills, and military experience will be considered.

• Prior experience related to health plans, vendor management, sourcing, and contracting activities.

• Ability to develop and maintain relationships with leadership across the organization.

• Ability to work independently or on a team.

• Strong problem-solving skills, conflict resolution, facilitation and consensus building skills.

• Excellent communication skills, both written and verbal, including presentations.

• Demonstrated experience communicating with diverse internal and external audiences.

• Relationship management skills with internal and external stakeholders.

• Able to influence internal and external stakeholders to achieve desired outcomes.

• Ability to proactively identify and resolve problems.

• Highly organized with a track record of delivering a high level of customer service in a timely manner.
  

Required Skills and Experiences – Senior Level:

• 5+ years of related (vendor management, contract drafting/negotiating) professional experience. All relevant experience including work, education, transferable skills, and military experience will be considered.

• Prior experience related to health plans, vendor management, sourcing, and contracting activities.

• Ability to develop and maintain relationships with leadership across the organization.

• Ability to work independently or on a team.

• Strong problem-solving skills, conflict resolution, facilitation and consensus building skills.

• Excellent communication skills, both written and verbal, including presentations.

• Demonstrated experience communicating with diverse internal and external audiences.

• Relationship management skills with internal and external stakeholders.

• Able to influence internal and external stakeholders to achieve desired outcomes.

• Ability to proactively identify and resolve problems.

• Highly organized with a track record of delivering a high level of customer service in a timely manner.

Nice to Have:

• Bachelors degree in Business or related field

• Act as a liaison between leadership and vendor partners to facilitate open communication and address any concerns promptly and effectively.

• Experience in redlining contracts to ensure compliance with company policies and negotiating favorable terms.

• Proven experience monitoring and managing Service Level Agreements (SLAs) to ensure vendors meet performance standards and contractual obligations.

• Demonstrated experience in managing strategic vendors to meet organizational goals and drive business performance.

• Craft and deliver clear, concise, and impactful communications to executive leadership, ensuring alignment with organizational goals and strategic initiatives.