Strategic Sourcing & Analytics Manager

Tower Hill Insurance Group has an exciting opportunity for a talented Strategic Sourcing & Analytics Manager who enjoys intellectual challenges and is seeking a rewarding career with a company that is experiencing growth. Not only is Tower Hill Insurance one of Florida's most trusted names in homeowners insurance, but it offers great opportunities for career advancement and personal growth, along with very competitive benefits and rewards. We are growing at a consistent pace and seek professional individuals with drive, team mentality, who want to make an impact, and are committed to a long-term career in the insurance industry.

The Strategic Sourcing and Analytics Manager at Tower Hill Insurance Group is tasked with overseeing the strategic and financial aspects of the organization’s vendor management and source-to-pay process. This pivotal role focuses on analyzing procurement data, developing financial reports, and delivering strategic insights aimed at optimizing procurement costs and enhancing operational efficiency.

ESSENTIAL DUTIES AND RESPONSIBILITIES

· Analyze procurement data to identify cost-saving opportunities and improve financial performance.

· Develop and maintain procurement budgets, forecasts, and sophisticated financial models.

· Monitor and report on procurement expenses, ensuring alignment with budgetary constraints and financial goals.

· Collaborate with stakeholder, vendor, and finance teams to develop and implement cost reduction strategies.

· Prepare and present detailed financial reports, including variance analysis and trend assessments.

· Support the development and implementation of procurement policies and procedures.

· Conduct market research and analysis to stay informed of industry trends and pricing changes.

· Ensure compliance with all relevant financial regulations and standards.

· Provide the organization with comprehensive, real-time spend analytics dashboards, analytical reporting capabilities and tools.

· Communicate closely with business and cross functional teams.

· Provide financial analysis support on contracts and supplier quotes.

· Identify, catalogue, and monitor financial spend on contracts via Source to Pay System.

· Create and manage templates for business to analyze services across vendors.

· Monitor data accuracy of department software.

· Support monitoring of vendor key performance indicators (KPIs).

· Analyze and identify vendor compliance issues and trends.

· Evaluate and mitigate risks associated with vendor reliance and vulnerabilities to ensure business continuity.

· Drive strategic sourcing initiatives that align with long-term business goals.

· Prepare and present risk analysis reports to senior management, highlighting potential risks and the steps taken to mitigate them. Ensure that all stakeholders are aware of risk exposures and the actions required to manage them.

· Establish performance metrics and standards for preferred vendors based on quality, cost, delivery, and compliance.

· Develop and optimize a preferred vendor program.

ADDITIONAL DUTIES

This job description reflects the general duties considered necessary to describe the essential functions of the job and should not be considered a complete description of all the work requirements and expectations of the position. Tower Hill reserves the right to assign duties not listed herein as necessary to accomplish the goals of the organization.

REQUIREMENTS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION

Bachelor’s Degree in Accounting, Business, Finance, Supply Chain or related field required.

Master’s Degree in Business Administration preferred.

EXPERIENCE

Minimum of five (5) to eight (8) years of relevant work experience in vendor management, contract negotiation, and relationship building at a strategic level required.

Previous experience in insurance or finance industry preferred. Familiarity with industry best practices and emerging trends in vendor management a plus.

CERTIFICATIONS

N/A

LICENSES

Valid Driver’s License required.

Preferred work arrangement hybrid on-site, but remote candidates will be considered based on qualifications and experience.

BENEFITS

• Medical
• Dental
• Vision
• Life & Accidental Death and Dismemberment (AD&D), and Disability Insurance
• 401 (k)
• Health Savings Account
• Accident and Cancer insurance plan

We offer competitive pay and benefits, and well-being programs to support you and your family. For more information about our company, careers and Total Compensation visit: Total Compensation - Tower Hill Insurance (thig.com)

*Tower Hill Insurance currently operates in these states CT, FL, GA, IA, IN, KY, MI, MS, NC, OH, SC, TN, TX, UT, VA, WV.

Tower Hill Insurance is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

Tower Hill Insurance is committed to working with and providing reasonable accommodation for individuals with disabilities. If you need reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to hrdepartment@thig.com or call (561) 812-6247 and let us know the nature of your request and your contact information.