Vendor Management :
Vendor Management is regional but is accountable for services and products delivered globally by Vendors.
The Vendor Manager's responsibility is to :
Ensure that the vendor delivers value for money whilst minimizing risk for the services and products allocated to the Global Service Owners & Operational Leads within Technology Operations
Ensure that the full contract life cycle is fully managed.
Establish effective financial management that will;
Ensure payments to Vendors are correct and timely
Usage trends that impact costs are understood
Effective forecasting is implemented
Managed in line with OGC / ITIL CIPS
Other essential responsibilities include :
Collaborate with the stakeholders and Tech Sourcing to ensure the appropriate processes are adopted to select the best vendor along with the right contract structure.
Ensure OLA’s and SLA underpinning contracts align with desired service
Ensure an operating rhythm is established with appropriate type of service provided by the vendor to ensure service / products are delivered to expectation.
For some vendors this will entail ensuring service reviews and set up and attended by the correct individuals
Be the point of escalation within Technology Operations for contractual and / or commercial disputes / Service & Support issues (this excludes day to day incident resolution / management)
Pro-actively manage contract terminations, closure, transfer and renewals. Vendor manager should demand challenge and perform due diligence prior to closures, renewal and termination of contracts, this activity should be performed in consultation with any appropriate stakeholders such as the business
Ensure changes to the contract are administered in line with change management processes and update all central repositories
Control and Governance
Develop an account plan for each vendor which will drive interaction and effective demand management.
Ensure vendor database is maintain and up-to-date
Socialize Vendor Management’s programs and processes to Sourcing, Stakeholders, and Finance,
Create focused vendor relationship strategies for critical vendors and encourage diversity within our vendor base
Vendor performance is monitored, reported, tracked & reviewing performance using metrics to measure success according to the contract guidelines and account plans
Designing and implementing continuous process and quality improvements (driving efficiency and effectiveness) within the vendor management program in conjunction with GSO, Finance, and Sourcing teams
Drive vendor behavior and deliver continuous improvement in vendor performance that fosters revenue and earnings growth and expense management, ensuring stakeholders have appropriate visibility
When required and appropriate facilitate vendor audits of Refinitiv and bench marking activities
Policy and Process
Ensure adherence to Refinitiv contracting processes and Refinitiv Sourcing / Supplier management operating model
Where appropriate ensure vendors & their teams are compliant with TR SOX, Logical Systems Access processes, Service Management (Change, Incident, Problem management ) processes
Effective communication of a vendor management vision, strategy and business plan to all stakeholders (internal ) and vendors (external)
Corporate advocacy of vendor management through relationship building, results delivery and effective communication to ensure vendor management is a core strategic lever for stakeholders and Sourcing teams, with measurable results
Ensure processes are in place for the review and analysis of invoices which in turn will verify accuracy of charges
Act as a checkpoint to validate charging
Coordinates activities between Finance, Business & Vendor to ensure all invoices are raised & paid in accordance with vendor agreements
Ensure Refinitiv payment terms are enforced, where applicable
Forecast cost for 3rd part supplier agreements together with high level understanding of spend with input from Service Owners
Ensure appropriate stakeholders are informed of contract additions / terminations of to enable correct budget forecasting
Perform expense and cost benefit analyses related to technology products / services associated with cost savings / reduction initiatives, benchmark products / services, market and vendors, and make recommendation based upon analyses
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Advanced Vendor Management experience.
Competency in ITIL and / or CIPS framework
Proven experience in Sourcing
Global perspective with ability to act regionally and locally
Strong relationship building, communication and presentation skills
Excellent customer service and writing skills
Proven thought leadership in the areas of vendor management, governance and business processes
Experience with e-procurement tools, vendor scorecards, and customer surveying
Effective negotiation and strategic sourcing skills
Ability to handle multiple tasks successfully
Strong computer skills; proficiency in MS Word, Excel, PowerPoint and Outlook
Must be self-motivated, dynamic and able to work with minimal supervision
Professional experience in the region