Vendor Relations Manager

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Job Summary

Tech Vendor Management will be responsible for overseeing and optimizing the relationships between the organization and its technology vendors. They will ensure that vendor partnerships are effectively managed to support the organization's technology strategy and business objectives, ensuring optimization of technological capabilities, high service quality, innovation and overall business success.

JOB DESCRIPTION

Role and Responsibilities

• Vendor selection and onboarding: Lead the process of selecting technology vendors through rigorous evaluation and due diligence. Oversee onboarding process to ensure smooth integration of vendor services or products.
• Contract negotiation and management: Negotiate contracts to secure favorable terms, including pricing, services levels (SLAs), governance and compliance requirements, with a focus on maximizing value and minimizing risk.
• Performance and Relationship Management: Regularly monitor and manage vendor performance against contracted service levels and KPIs; Escalate issues to senior management/relationship owners in a timely fashion. Conduct regular performance and service reviews and provide feedback to vendors.
• Stakeholder support: Support relationship owners to build strong vendor relationships including identifying key vendor partnerships, determining strategic vs tactical vendor relationships and setting objectives for each partnership.
• Process Implementation: Create standardized vendor management procedures and governance frameworks to manage vendor risks.

Qualifications

• Over 5 years of experience in vendor management, procurement, or related field.
• Expertise in contract negotiation and management.
• Proven track record in effective strategic partnerships with technology vendors and suppliers.
• Proficient in risk management and compliance oversight.
• Ability to communicate effectively with a wide range of stakeholders, including senior management, vendors and business partners.
• Expertise in managing tech operations within the insurance industry is highly desirable.

Mandatory skills

• Knowledge of vendor selection, due diligence, and performance assessment.
• Strong negotiation skills with a proven track record of securing cost savings and value-added services.
• Familiarity with e-procurement and vendor management software platforms (e.g., Coupa).
• Experience in vendor management processes and governance frameworks implementation.
• Excellent communication and interpersonal skills for stakeholder and partner interactions.
• Ability to manage vendor performance using SLAs and key metrics.

Preferred skills

• Experience specifically within the insurance industry's technology operations.
• Experience with global sourcing and managing international vendors.
• Strategic thinking with a focus on long-term relationship management and continuous improvement.