What are the responsibilities and job description for the Sourcing Analyst position at Jewelers Mutual?
Summary
The Sourcing Analyst position supports the management of strategic vendor relationships within Jewelers Mutual. This position is responsible for managing relationships with third-party vendors and may serve as a point of contact within the organization for associated processes, direction, guidance, and support. This role will encompass all aspects of sourcing and procurement including supporting contract management, vendor management, and formalized processes for selecting, monitoring and auditing our third-party vendors.
WHY Jewelers Mutual:
We are a financially secure, exceptionally positioned, and intellectually curious company driven by our core values of Agility, Accountability and Relevancy! We continue to raise the tide of the jewelry industry we’ve served since 1913 through our innovative people, our unyielding customer commitment, and evolution of our products and services to be the most trusted advisor to all we serve.
With a generous benefits package, office locations throughout the United States, and a mantra of “making your mark today”, consider evolving your career and shining bright with Jewelers Mutual Group!
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
- Ensure contracts are actively managed through completion, including working with leaders and a vendor manager on associated vendor performance.
- Monitor and manage contract life cycles and proactively engage with leaders to discuss and review contracts coming to term to improve opportunities for renewal and extension negotiations.
- Provide improved information about contracts and vendors to bring visibility to resilience gaps and risks that need to be addressed.
- Assist in training vendor management methods, governance standards, processes and metrics for monitoring vendor performance against defined SLAs and overall vendor risk management.
- Assist in creating and promoting standardization in the organization’s materials used with vendors – ranging from contract terms specific to SLAs, to RFP/RFI materials used in identification and selection of vendors.
- Assist in Request for Information (RFI), Proposal (RFP) Processes, or contract negotiations.
- Review and negotiate contract terms and conditions to ensure they align to and support Jewelers Mutual’s best interests.
- Ensure proper approvals and signatures are obtained on all contracts.
- Continuously improve, and support sourcing and procurement processes.
- Conduct Vendor Business/Risk Reviews, providing support to compliance personnel as it relates to the evaluation and management of risk related to third party entities, and their continued compliance with regulatory and contractual requirements. Proactively identify issues and emerging risks and take action to resolve or escalate as appropriate.
- Maintain information in the contract management system and data of all vendor relationships.
- Assist the team in the collection and analysis of vendor information.
REQUIRED KNOWLEDGE, SKILLS AND ABILITIES
What You Need:
- Background in business process analysis and project coordination.
- Excellent organizational and time management skills, with the ability to perform with general direction.
- Strong problem solving and conflict resolution skills.
- Strong written and verbal communications skills.
- Strong project management skills.
- Strong analytical skills.
PREFERRED KNOWLEDGE, SKILLS AND ABILITIES
- 0-2 years of sourcing, procurement, and vendor management experience.
- Information technology terminology and acumen is beneficial.
SUPERVISORY RESPONSIBILITIES
None
QUALIFICATIONS
- Ability to work well with others, objective, creative, diplomatic, and exudes excellent communications skills.
EDUCATION AND/OR EXPERIENCE
- Bachelor’s degree from a four-year college or university with 2 – 5 years of experience in a business function.