Corporate Vice President - Vendor Management

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Date: Aug 21, 2021

Location: Remote, NY, US

Company: New York Life Insurance Co

 

When you join New York Life, you’re joining a company that values development, career growth, collaboration, innovation, and diversity & inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.

 

 

 

The Retail Life Vendor Management Team directly supports the Underwriting group and is responsible for managing the third-party vendors with whom we engage to secure underwriting requirements. The team oversees vendor performance to ensure timely and accurate securing of vital information as well as an exceptional customer experience for our clients, agents and underwriters. They are also responsible for payment and monitoring of expenses associated with underwriting new retail life applications. 

 

The Corporate Vice President (CVP) role manages the Company’s relationships with our Underwriting vendors. The CVP is responsible for executing a comprehensive vendor governance program which includes performance oversight and monitoring of a $34M annual budget. The CVP ensures that the Underwriting team is properly supported and that performance issues are escalated and resolved with a sense of urgency. This individual will assist to set the strategy and direction for key projects, vendor performance metrics and contract negotiations.  The ideal candidate is a leader with the ability to manage and influence relationships both internally and externally. This role is best suited for a results-driven individual with a risk-assessment mindset, a comprehensive understanding of Underwriting operations and critical thinking skills. The candidate should understand third-party oversight best practices, experience in assessing process controls and an appreciation for providing an ideal customer experience.  This CVP will be responsible for establishing a culture focused on risk mitigation through the governance program, continuous improvement, and achieving the optimal customer experience.  This role will support the MG3 with strategic vendor-related initiatives in support of Underwriting strategy and manage Company’s relationships with our Underwriting vendors.

 

Responsibilities

  • Execute a comprehensive vendor governance program that establishes acceptable standards and assesses performance, financial solvency and controls
  • Collaborate with corporate risk oversight areas and Procurement to ensure alignment
  • Oversee the formal scorecard for each vendor for presentation to internal and external leadership
  • Attend onsite vendor visits
  • Address vendor performance issues, develop and enforce corrective action plans
  • Oversee reporting dashboards in support of business needs and analyze performance stats/expense trends.
  • Continuously assess the risk, process and technology within the operation in order to identify and develop/execute upon improvement opportunities
  • Drive strategic initiatives, with a high sense of urgency, in order to improve service outcomes and/or reduce unit costs
  • Manage ongoing relationships with critical third-party suppliers and serve as point of contact for all risk related items
  • Develop a high-performing team through consistent mentoring and coaching through changing needs
  • Assist in Underwriting procurement projects, including RFI’s, RFP’s and contract negotiations, to achieve competitive pricing and KPI’s that directly impact Company goals
  • Maintain a presence within the industry and collaborate with counterparts to share best practices

 

Qualifications

  • Bachelor’s degree preferred
  • 5+ years prior relevant experience required
  • 5+ years insurance industry experience required
  • 2+ years leadership experience required
  • 2+ years risk management experience preferred
  • Must demonstrate strong communication, business writing, negotiation, influencing and change management skills

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by our Foundation. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 84056

 

 

 


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