Vendor Manager

Title: Vendor Manager 

Location: current schedule is hybrid (40-50% in the Amelia, Ohio office)

*Please add a cover letter with details if you are not local and plan to relocate for the hybrid schedule

Recruiter: Sonya Fischesser

Exempt position

American Modern Insurance Group, Inc., a Munich Re company, is a widely recognized specialty insurance leader that delivers products and services for residential property – such as manufactured homes and specialty dwellings – and the recreational market, including boats, personal watercraft, classic cars, and more. We provide specialty product solutions that cover what the competition often can’t. We write admitted products in all 50 states and have a premium volume of $2.2 billion.

Headquartered in Amelia, Ohio, and with associates located across the United States, we are part of Munich Re’s Global Specialty Insurance division. Our employees receive boundless opportunity to grow their careers and make a difference every day - all in a flexible environment that helps them succeed both at work and at home.

Purpose:

This role is to support Product by managing current third party relationships necessary within the Product Development Life Cycle, policy quote, policy issuance, and policy delivery process.  Balancing technical, business, and interpersonal skills, this manager will stay current with industry trends while driving improved innovation, accuracy, and speed into all these processes to ensure seamless integrations with third party vendors, improve data gathered during the quote/issuance process, and enhance customer experience

Roles & Responsibilities:

Vendor Management

• Coordinate technical innovation ideas in regards to ease of use, issuance and renewal processes, data and 3rd party rating software with Product Operations & Enablement Manager, Line of Business Leads, Customer Experience, and other Product Owners
• Conducts regular status meetings with vendors to foster a review of current services and discuss future opportunities
• Evaluate selections of new vendors and vendor tools

Procurement and Contracting

• Work with Procurement to ensure proper pricing, execution, maintenance and filing of all 3rd party agreements
• Responsible for third party contract development, negotiations, and finalization

Strategic Planning and Innovation

• Creates a vision for all third party integration functions, including decisions on our partners.
• Will work to drive simplicity, accuracy, and speed into insurance transactions
• Travel to industry conferences to seek new technical opportunities
• Collaborates with others to develop and plan the third party vendor roadmap

Financial Management and Compliance

• Establish and manage annual budgets around these relationships
• Drive timely and proper payment to vendor invoices building a mechanism to validate services rendered
• Ensure third party activities meet established company guidelines including the North American outsourcing policy

Risk Management

• Manage involuntary market relationships
• Identify and maintain a list of risks and controls for assigned responsibilities while ensuring compliance and risk mitigation efforts are continually improved

Required Technical Skills:

• Strong interpersonal and analytical skills: Ability to work autonomously, communicate effectively, and analyze complex information.
• Insurance industry knowledge: Strong understanding of insurance concepts, systems, and processes, including policy administration and third-party integration points.
• Technical skills: Proficiency in MS Office Suite, data gathering and manipulation tools (e.g., Access, SQL), and familiarity with software and technology trends. What are they using this for? Functions used?
• Contract management and procurement: Basic understanding of contract development, negotiations, and finalization, as well as procurement systems and processes.
• Project management: Familiarity with project management principles, including coordination with stakeholders, prioritization of tasks, and management of multiple responsibilities.
• Compliance and regulatory understanding: Knowledge of compliance and regulatory requirements, including the North American outsourcing policy, and ability to ensure third-party activities meet established company guidelines.

Education, Certifications & Designations:

Required: Bachelor’s degree in Finance, Insurance, Accounting or other similar major.

Preferred: MBA or similar advanced degree, CPCU and/or FCAS

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

• Two options for your health insurance plan (PPO or High Deductible)
• Prescription drug coverage (included in your health insurance plan)
• Vision and dental insurance plans
• Short and Long Term Disability coverage
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes spouse/domestic partner and children)
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity)

In addition to the above insurance offerings, our employees also enjoy:

• A robust 401k plan with up to a 5% employer match
• A retirement savings plan that is 100% company funded
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries
• Eligibility to receive a yearly bonus as a Munich Re employee
• A variety of health and wellness programs provided at no cost
• A hybrid environment that gives you a choice in where and how you get work done
• A corporately subsidized on-site cafeteria as well as a We Proudly Serve coffee shop
• An on-site complimentary workout facility as well as walking trails on campus grounds
• On-site wellness center complete with nurse practitioner
• Financial assistance for adoptions and infertility treatment
• Paid time off for eligible family care needs
• Tuition assistance and educational achievement bonuses
• Free parking
• A corporate matching gifts program that further enhances your charitable donation
• Paid time off to volunteer in your community

At American Modern, a subsidiary of Munich Re, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.  

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Applicants requiring employer sponsorship of a visa will not be considered for this position.

#LI-SF1

(Contract Specialist, Insurance Vendor Management Specialist, Third-Party Risk Manager, Vendor Management Coordinator)