Director, Vendor Management

The Director position will envision, staff, and oversee the vendor management function at Medica, This position is responsible for developing and executing Medica's Vendor Management strategies to optimize vendor performance, ensure effective risk management and compliance, and drive value in vendor relationships. This role will involve close collaboration across the Enterprise Sourcing & Vendor Management Team, along with various departments, including IT, finance, and operations, to ensure alignment with business objectives and enhance vendor management processes.

Key Accountabilities

• Vendor Management Governance
  
  
  
  • Develop, educate, and ensure adherence to Medica's Vendor Management policies, standards, and practices via oversight of Medica's federated vendor managers
  • Hold federated vendor managers accountable to ensure they are maximizing the value vendors are providing based on the agreed to contracts
  • Ensure performance, quality, and value across all tiers of vendors, timely addressing problems and overseeing corrective action plans when necessary
  
  
  
  
• Strategic Vendor Management
  
  
  
  • Owns and maintains oversight for key contracted third party vendor relationships, understanding interlinkages, synergies, and strategy for service delivery, performance and contract management
  • Establish and maintain strong relationships with key vendors, ensuring effective communication and collaboration.
  
  
  
  
• Vendor Risk Management
  
  
  
  • Works collaboratively with Legal, Security and other stakeholders in the vendor review, negotiation and approval process
  • Formally tier / stratify vendors based on business impact and/or risk criteria, develop "right-sized" strategies to manage vendors based on tier and risk profile.
  • Facilitate an executive-level Governance Committee to create transparency and support for the vendor process as well as make enterprise decisions/approve exceptions as applicable.
  
  
  
  
• Vendor Performance Management
  
  
  
  • Monitor contractual service level agreements to ensure that vendors meet ongoing business needs; addresses performance issues with vendors and arranges for resolution and restitution.
  • Monitor and analyze vendor performance, market trends, and industry best practices to identify opportunities for improvement.
  
  
  
  
• Leadership
  
  
  
  • Lead and manage the vendor management team, providing guidance, mentorship, and performance management.
  • Partners with operational stakeholders to coordinate the vendor management process and educate on best practices, including but not limited to timeline planning, contract change orders or re-negotiation, onboarding, training, monitoring, offboarding and assessment
  • Develop and implement metrics to measure the effectiveness of vendor management strategies and drive continuous improvement.
  • Drives relentless improvement of the vendor management program with a focus on cost reduction, quality improvement, supplier optimization and minimal disruption
  
  
  
  

Minimum Qualifications

• Bachelor's degree required, advanced degree preferred
• 10+ years of procurement, vendor management, or related experience required
• 5+ years in leadership role

Skills and Abilities

• Experience leading Vendor Management Team(s) at similar-sized or larger company, healthcare or insurance preferred
• Systems Thinking, Critical Thinking, and Problem Solving
• Enterprise Mindset
• Clear Communicator and Collaborator
• Innovation and Change Agent
• Courageous in Presenting Data and Facts, presenting Information for Decision
• Organized and able to manage multiple competing priorities

This position is an Office role, which requires an employee to work from the Minnetonka, MN office on average, 2+ times per week.

The full salary range for this position is $127,800 - $219,000. Annual salary range placement will depend on a variety of factors including, but not limited to, education, work experience, applicable certifications and/or licensure, the position's scope and responsibility, internal pay equity and external market salary data. In addition to base compensation, this position may be eligible for incentive plan compensation in addition to base salary. Medica offers a generous total rewards package that includes competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, caregiver services and many other benefits to support our employees.

The compensation and benefits information is provided as of the date of this posting. Medica's compensation and benefits are subject to change at any time, with or without notice, subject to applicable law.

Medica's commitment to diversity, equity and inclusion (DEI) includes unifying our workforce through learning and development, recruitment and retention. We consistently communicate the importance of DEI, celebrate achievements, and seek out community partnerships and diverse suppliers that are representative of everyone in our community. We are developing sustainable programs and investing time, talent and resources to ensure that we are living our values. We are an Equal Opportunity/Affirmative Action employer, where all qualified candidates receive consideration for employment indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information, or any other protected characteristic.