Manager I, Vendor Performance & Risk Management
Location
Torrance, CA | United States
Job description
The role:
The Vendor Performance & Vendor Risk Management Manager I will lead a team dedicated to ensuring timely and accurate delivery of objectives that guide Herbalife's vendor performance and vendor risk management. The Manager I will lead the build and oversee the development and implementation of a robust vendor performance framework and vendor risk assessment process, adhering to industry standards, regulations, policies, and guidelines. This role involves collaborating closely with cross-functional teams, such as technology tower leads, to guarantee seamless vendor performance alignment and manage vendor risks within the broader system context.
How you would contribute:
- Manages a team (3+) in vendor performance & vendor risk management and ensures delivery success in developing and implementing vendor performance and risk management strategies.
- Build, develop and implement a comprehensive vendor performance management framework, including defining key performance indicators and metrics aligned with strategic objectives.
- Design and implement data collection and analysis processes to measure vendor performance against established standards, identify trends, and predict potential issues.
- Regularly review and update the vendor performance framework based on industry best practices, emerging risks, and organizational needs.
- Regularly monitor and conduct vendor performance (monthly/quarterly) against established benchmarks, proactively identifying areas for improvement and addressing deviations from agreed-upon standards.
- Proactively lead vendor compliance by conducting monthly/quarterly audits (frequency may vary) and verifying adherence to contractual obligations and service level agreements (SLAs). Take timely corrective actions to address any identified discrepancies.
- Develop and prepare reports and presentations to communicate vendor performance and risk management data and insights to partners and VMO leadership, highlighting achievements, areas of improvement, and recommended actions to optimize vendor performance.
- Generate reports and presentations to communicate vendor performance and risk management data and insights to stakeholders.
- Build and oversee the vendor risk management process, from conducting comprehensive assessments to crafting mitigation strategies and implementing controls – minimize financial, operational, compliance, legal, security, regulatory, and reputational risks associated with vendors, ensuring alignment with industry best practices and company-specific requirements.
- Reviews vendor risk reports and dashboards to identify required actions and bring up as needed to VMO leadership.
- Escalates vendor performance/risk and resolves issues to enable team delivery.
- Performs additional duties as assigned.
Supervisory Responsibilities:
- Leads a team of 1-3 people.
Skills and background required to be su ccessful:
- 6+ years experience demonstrating success in developing and implementing vendor performance strategies and risk management or related field.
- 6+ years experience using ERP systems, procurement software, and data analytics tools.
- 6+ years experience leading, guiding and motivating a team.
- In-depth understanding of vendor management processes, vendor relationships, and supply chain management.
- Familiarity with relevant industry regulations, compliance standards, and best practices.
- Proficient in negotiation techniques and contract management.
- Experience in drafting, reviewing, and managing vendor contracts and service level agreements.
- Experience with various staffing models (i.e., outsourcing, staff augmentation, managed capacity, managed services)
- Advanced experience building, developing, and implementing comprehensive vendor performance management frameworks and processes is a must.
- Advanced experience building vendor ris k management processes, crafting mitigation strategies, and implementing controls is a must.
- Advanced experience with various staffing models is a must.
- Ability to lead a team and track performance.
Education:
- Bachelor's degree in Business Administration, Supply Chain Management, or a related field. Advanced degree or relevant certifications is a plus. #LI-EG1
Herbalife offers a variety of benefits to eligible employees in the U.S. (limited to the 50 States and the District of Columbia), which includes Group Health Programs, other Voluntary Benefit Programs, and Paid Time Off. Group Health Programs include Medical, Dental, Vision, Health Savings Account (HSA), Flexible Spending Accounts (FSA), Basic Life/AD&D; Short-Term and Long-Term Disability, and an Employee Assistance Program (EAP). Other Voluntary Benefit Programs include a 401(k) plan, Wellness Incentive Program, Employee Stock Purchase Plan (ESPP), Supplemental Life/Critical Illness/Hospitalization/Accident Insurance, and Pet Insurance. Paid time off includes Company-observed U.S. Holidays, Floating Holidays, Vacation, Sick Time, a Volunteer Program, Paid Maternity and Paternity Leave, Bereavement Leave, Personal Leave and time off for voting.
Job tags
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