Vendor Relations Manager
Job Summary:
The Vendor Relations Manager is responsible for creating and maintaining the preeminent, most innovative, profitable product portfolio in our marketplace.
Responsibilities:
- Manage Vendor Relations team, assigning projects and tasks, defining clear timelines and expectations and tracking to completion
- Vet vendors and their products through a comprehensive due diligence process to evaluate product fit, technology, history, performance, network recognition and member experience
- Perform new product implementation and companywide training and continued communication
- Test benefits quarterly to ensure the member experience is positive
- Analyze the root cause of benefit escalations, identify trends and resolve accordingly to prevent future problems
- Support and assess Vendor Relations team members through regular team and one-on-one coaching and feedback sessions
- Communicate department and company goals to the Vendor Relations team to promote buy-in and drive urgency
- Work across all departments to implement and communicate changes
- Work closely with contracted vendors to identify new opportunities and program enhancements
- Monitor and understand market trends to enhance and maintain a diversified product portfolio with relevant and innovative benefits
- Negotiate vendor contracts to secure competitive pricing and product sets to enhance the benefit portfolio and strengthen New Benefits’ market position
- Spearhead benefit integration into existing client and member portals, including web and mobile applications
- Create vendor and benefit implementation documents and timelines to ensure thorough and timely product launches
- Partner with Sales and Client Services to facilitate unique client requests including non-standard benefit design, client-specific benefit implementation and custom procedures
- Compile, analyze and distribute benefit utilization and membership data to identify trends and determine opportunities for marketing, client and member education and product changes
- Drive product strategy with the executive team, developing and presenting business recommendations to support company goals
- Develop 1-year, 3-year, and 5-year roadmaps for product offerings
- Educate the Sales and Marketing Departments, and collaborate with them to facilitate marketing and sales material creation to clearly communicate benefit value
- Perform training as needed to reinforce benefit value propositions
- Create comparison charts and visuals between vendors and similar benefits
- Proactively contact vendors to nurture relationships, discuss product changes and encourage product enhancements
- Other duties as assigned
Core Competencies (F.L.I.I.P.):
- Flexibility – Maintains effectiveness when experiencing major changes in work responsibilities or environment and adjusts effectively to work within new structures, processes, requirements or cultures. Remains flexible in spite of adversity. Embraces change.
- Leadership – Facilitates a positive and productive team oriented environment. Provides open communication/feedback within the team. Builds collaboration to maintain productive teams. Treats people with honesty and respect. Maintains positive relationships with employees at all levels. Uses appropriate interpersonal styles to establish effective relationships with clients, vendors and internal partners. Interacts with others in a way that promotes openness and trust and gives them confidence in one’s intentions.
- Innovation – Identifies and accomplishes challenging objectives or personal goals. Works effectively with others to achieve goals. Looks for and takes advantage of opportunities. Maintains a high level of interest, enthusiasm and personal performance. Takes steps to improve processes and find better solutions. Champions quality work and proactively takes steps to correct errors or improve overall products/solutions. Drives continuous improvement. Demonstrates a willingness to change approach based on feedback.
- Integrity – Supports and upholds the organization’s standards and values. Demonstrates honesty, reliability and professionalism. Maintains the highest ethical standards.
- Provide excellent customer service to internal clients, partners, vendors and teams. Respond promptly, professionally, effectively, and efficiently. Recognize sense of urgency in responding to needs and follow up to ensure requests, needs, and commitments are met consistently.
Qualifications and Skills:
- Bachelors Degree or equivalent work experience
- 3+ years of experience in healthcare/carrier/product/vendor management preferred
- Experience in insurance sales and/or business development a plus
- Familiar with discount medical benefits such as: prescription drug, dental, telemedicine a plus
- Strong verbal and written skills essential
- Results Oriented]Demonstrate and foster a sense of urgency
- External relationship management experience a plus
- Demonstrated analytical skills
- Ability to effectively network and communicate with all levels of staff, both internally and externally
- Superior organizational skills/ability to manage details
- Ability to recognize problems and identify correct solutions
- Ability to multi-task in fast paced environment
- Computer Skills: Windows Environment, strong MS Office skills, Internet, and proprietary databases
*Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the position
Reports to:
Executive Vice President Operations
Classification:
Exempt
