Senior Source to Contract Manager

The Standard; New Jersey; Remote; USD 104,000 - 154,000; Full time

Job summary

A leading company in the insurance sector seeks a Sourcing & Contract Manager to oversee procurement and contract management. The role involves negotiating agreements, managing vendor relationships, and ensuring compliance with procurement strategies. Ideal candidates will have strong negotiation and project management skills, along with a collaborative mindset. The position offers remote working options and a comprehensive benefits package.

Benefits

Medical Benefits

Dental Benefits

Vision Benefits

PTO Accrual of 164 hours per year

11 Paid Holidays

2 Wellness Days

Qualifications

• 6-10 years of experience in contract management and procurement.
• In-depth knowledge of procurement strategy and best practices.

Responsibilities

• Negotiate master professional service agreements and vendor agreements.
• Manage the procurement process for services and products.
• Develop positive relationships with stakeholders and third-party providers.

Skills

Negotiation

Project Management

Collaboration

Time Management

Data Analysis

Education

Bachelor’s or Master’s Degree in Business

High School Diploma or GED

Tools

MS SharePoint

Excel

Word

PowerPoint

Job description

At The Standard, you’ll join a team focused on putting our customers first.

Our continued success is driven by a high-performance culture. We’re looking for people who are collaborative, accountable, creative, agile and are driven by a passion for doing what’s right – across the company and in our local communities.

We offer a caring culture where you can make a real difference, every day.

Ready to reach your highest potential? Let’s work together.

The Sourcing & Contract Manager will have the primary responsibility for supporting Standard Insurance’s internal stakeholders with procurement and management of services, products, commodities, and professional services from various third-party providers.

Job Summary :

Develop, review, and negotiate master professional service agreements and amendments, statements of work, service agreements, and vendor agreements to support business activities and departmental needs.

Draft and redline commercial components and negotiate terms & conditions, pricing, and key contract terms.

Prepare, review, execute, and manage the process for approval of contracts, contract renewals, terminations, and change orders.

Execute purchasing and category strategies while managing the entire procurement process resulting in the best possible terms for value / cost savings, TCO, quality, risk-mitigation, regulatory compliance, service, and delivery.

Assist with risk analysis to identify issues and develop risk mitigation strategies and effectively communicate risk to business owners and functional partners.

Support RFx creation / management, third-party provider communications, market research / analysis, data collection / analysis, third-party provider evaluation and selection recommendations, business proposals and contract negotiations.

Partner with internal stakeholders to define product / service requirements and lead competitive sourcing initiatives / RFx events for product, services, professional services, and IT-related business needs.

Act as an influential consultant to business partners for the procurement of goods and services.

Proactively develop and manage positive relationships with stakeholders, third party providers, business partners, and peers.

Job Requirements :

Experience in negotiation of assets, outsourced service, hardware and software / Cloud, and professional services contracts.

Proven negotiation, contracting and project management skills with the ability to lead and prioritize activities.

Collaboration, cooperation, and teamwork.

Proficient in the use of MS SharePoint, Excel, Word and PowerPoint, and at workload and time management.

Proficient skillset in analyzing cost data, research market trends, identify best practices, and manage supporting contract development activities.

Job Specifications :

Education : Bachelor’s or master’s degree in business or a related field is preferred. High School Diploma or GED equivalent is required.

Certification : CPSM, C.P.M., CPIM, or CSCP or equivalent certification is preferred but not required.

6-10 years of experience in contract management, sourcing, procurement, and supplier management.

In depth knowledge of procurement strategy, processes, systems, tools, and best practices.

Occasional travel (such as conferences or team building) is required.

LI-remote

Please note - the salary range for this role is listed below. In addition to salary, our package includes incentive plan participation and comprehensive benefits including medical, dental, vision and retirement benefits, as well as an initial PTO accrual of 164 hours per year. Employees also receive 11 paid holidays and 2 wellness days per year.

Eligibility to participate in an incentive program is subject to the rules governing the program and plan. Any award depends on various factors, including individual and organizational performance.

Salary Range :

104,750.00 - $153,500.00

Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Equities, Inc. and StanCorp Investment Advisers, Inc., marketed as The Standard, are Affirmative Action / Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender identity, sexual orientation, age, disability, or veteran status or any other condition protected by federal, state or local law. The Standard offers a drug and alcohol free work environment where possession, manufacture, transfer, offer, use of or being impaired by an illegal substance while on Standard property, or in other cases which the company believes might affect operations, safety or reputation of the company is prohibited. The Standard requires a criminal background investigation, employment, education and licensing verification as a condition of employment. All employees of The Standard must be bondable.