What are the responsibilities and job description for the Director of Vendor Management position at Reserv?
About Reserv
Reserv is an insurtech creating and incubating cutting-edge AI and automation technology to bring efficiency and simplicity to claims. Founded by insurtech veterans with deep experience in SaaS and digital claims, Reserv is venture-backed by Bain Capital and Altai Ventures and began operations in May 2022. We are focused on automating highly manual tasks to tackle long-standing problems in claims and set a new standard for TPAs, insurance technology providers, and adjusters alike. We have ambitious (but attainable!) goals and need people who can work in an evolving environment. If building a leading TPA and the prospect of tackling the long-standing challenges of the claims role sounds exciting, we can't wait to meet you.
About The Role
As a Director of Vendor Management at Reserv, you will be critical in crafting and executing strategies for building and governing Reserv’s vendor networks across the US, UK, and Europe. This position offers a unique opportunity to evaluate and enhance our existing network while building scaled processes and spearheading the establishment of robust vendor partnerships and eventually leading a team of vendor analysts or relationship managers.
What You'll Do
Reserv is an insurtech creating and incubating cutting-edge AI and automation technology to bring efficiency and simplicity to claims. Founded by insurtech veterans with deep experience in SaaS and digital claims, Reserv is venture-backed by Bain Capital and Altai Ventures and began operations in May 2022. We are focused on automating highly manual tasks to tackle long-standing problems in claims and set a new standard for TPAs, insurance technology providers, and adjusters alike. We have ambitious (but attainable!) goals and need people who can work in an evolving environment. If building a leading TPA and the prospect of tackling the long-standing challenges of the claims role sounds exciting, we can't wait to meet you.
About The Role
As a Director of Vendor Management at Reserv, you will be critical in crafting and executing strategies for building and governing Reserv’s vendor networks across the US, UK, and Europe. This position offers a unique opportunity to evaluate and enhance our existing network while building scaled processes and spearheading the establishment of robust vendor partnerships and eventually leading a team of vendor analysts or relationship managers.
What You'll Do
- Network Expansion: Develop a strategic plan to build and expand our vendor networks, establishing strong partnerships that align with our global operational goals.
- Relationship Building: Be Reserv’s liaison, developing and maintaining relationships with key vendors and partners to ensure smooth and effective services.
- Strategic Oversight: Oversee vendor lifecycle management, including selection, negotiation, performance monitoring, and compliance management, while aligning processes.
- Leadership Development: In your player/coach capacity, guide the initial phases of relationship and process building, and eventually, provide strategic leadership to a team of relationship managers.
- Cross-Functional Collaboration: Work closely with internal stakeholders, including claims leadership and other relevant teams, to refine vendor-related SOPs and optimize partnership effectiveness. Focus on stakeholder management and build a recurring review process to support internal customers during the vendor lifecycle.
- Continuous Improvement: Implement innovative strategies to enhance vendor engagement processes and efficiencies, integrating technology and automation to increase efficiency and reduce overhead at Reserv.
- Quality Assurance: Develop and maintain a comprehensive robust performance scoring framework to ensure vendors meet or exceed SLAs and KPIs.
- Analytical Insight: Conduct thorough assessments and due diligence for potential new vendors, offering data-driven recommendations to leadership for strategic decision-making. Build RFP process.
- Compliance and Cost Management: Manage vendor compliance with industry regulations, control billing accuracy, and recommend cost-saving measures to support fiscal responsibility.
- Experienced in vendor management with a focus on network development within the US, UK, and European markets.
- Skilled in negotiating contracts and fostering strategic vendor relationships, preferably in the insurance and TPA sectors.
- Proficient in creating reports KPIs and then further analyzing vendor performance to inform strategic initiatives.
- Eager to roll up your sleeves and build or enhance process where needed.
- Adept in cross-cultural negotiation and communication, capable of building a diverse vendor network.
- Organized and capable of managing complex, multi-region projects efficiently.
- Passionate about delivering exceptional service and driving improvements in vendor partnerships.
- Flexible, adaptive, and driven to succeed in a fast-paced, evolving environment.
- Generous health-insurance package with nationwide coverage, vision, & dental
- 401(k) retirement plan with employer matching
- Competitive PTO policy – we want our employees fresh, healthy, happy, and energized!
- Generous family leave policy after 8 months of continuous work
- Work from anywhere to facilitate your work life balance
- Apple laptop, large second monitor, and other quality-of-life equipment you may want. Technology is something that should make your life easier, not harder!
- Listen to your feedback to enhance and improve upon the long-standing challenges of an adjuster and the claims role
- Work toward reducing and eliminating all the administrative work from an adjuster role
- Foster a culture of empathy, transparency, and empowerment in a remote-first environment