Job Description

Position

Manager - IT Vendor Relations Specialist

Incumbent

Department

Strategy, Portfolio & Compliance

Function

SP&C

Reporting to

CM, SP&C

Band

4

Location

Gurgaon HO

Team size (Direct/Indirect)

~2

JOB SUMMARY

SP&C empowers the Operations, Technology and Digital teams within Max Life. This team manages the planning, budgeting, training, outsourcing, project management and process controls for the largest non-sales patch in the organization. To run efficient and profitable operations, it is imperative to plan effectively for all large projects as well as unit level transactions. There are 4 functions within SP&C

Project Management & Transformation Office: There are various projects and initiatives that each of the various functions within the fulfillment group (FLG) and Digital/Tech are working on - some of which are of strategic importance at the org./CEO level. These projects need to be managed centrally at the COO\'s office such that the (CEO - 1) level of governance is effective in ensuring deliveries on these projects. Moreover, the functions themselves need augmentation of their bandwidth to be able to manage these projects better and also effectively solve for the respective problem statements. This will include projects in key areas such as protection and underwriting, customer agenda, fulfillment, renewals and capability building projects in technology.

Strategy, Planning and Budgeting: Technology and Digital are strategic growth pillars for Max Life while Operations ensure running an efficient and profitable organization. SP&C team is responsible for evolving the functional planning for Ops and IT, planning for COO\'s patch and managing all organization spends for these verticals. The team helps Max Life run cost efficient operations, arrive at the right strategic decisions for build vs. buy, Capex vs. Opex etc, identifies the projects that deliver the biggest impact, and is the gatekeeper of all the spends. Regular cost reporting, identification of cost saving initiatives and its execution is done by this team.

Outsourcing: There are over 200+ vendors being actively managed by the SP&C team for vendor lifecycle from onboarding to compliance, payments till contract closures. The unit also helps onboarding of vendors for POCs and special purposes, and works closely with business units, procurement and finance teams to manage vendor operations for both Operations and IT.

Process Controls: This unit interfaces with business units and compliance teams to ensure adherence with the regulatory requirements, helps with both internal and IRDAI audit readiness, and proactively monitors and mitigates and compliance related risks. It reports out the status to various regulatory forums and helps with completion of compliance tasks..

KEY RESPONSIBILITIES

Strategy and Planning

• Identification of process improvement measures for efficiencies in the overall vendor management process
• Identify opportunities for automation, transformation & simplification

Vendor Management

• Liaise with the vendors to ensure timely & correct disbursement of payments
• Obtain NDC from vendors
• First point of contact for vendor queries
• Ensure that the delivery of the POs happen on time

Stakeholder Management and Communications

• Prepare and communicate budgetary dashboards, dashboards for key fulfilment KPIs and variance analysis
• Departmental communication for management forums like board meetings, weekly leadership

MEASURES OF SUCCESS

• Adherence to budget
• Be a constant force of change and innovation for the organization, challenging status quo and bringing new ideas for testing and incubation
• Successful archival of knowledge and dissemination of it across business functions
• Positive feedback and appreciation from business owners and decision makers.

Key Relationships

• Digital and Technology COE
• Finance
• Procurement

KEY COMPETENCIES/SKILLS REQUIRED

• 6-8 years; Presently should be in vendor management role
• Bachelors or Masters
• Ability to work with cross functional teams; strong networking and inter-personal skills
• Stakeholder and vendor management skills
• Detail-oriented, organized, critical thinker with strong work ethics
• Excellent communication skills and a thoughtful, persuasive personal style.
• Self-starter, comfortable in a project-oriented environment and comfortable in dealing with large cross functional projects.
• Ability to influence key stakeholders and operational owners through well-articulated strategies backed up with metric driven value statements.
• Analytical skills and judgment to solve problems with limited information at hand by learning and using Statistical tools and logics.
• Should be competent at analyzing both quantitative and qualitative data.

Position

Manager - IT Vendor Relations Specialist

Incumbent

Department

Strategy, Portfolio & Compliance

Function

SP&C

Reporting to

CM, SP&C

Band

4

Location

Gurgaon HO

Team size (Direct/Indirect)

~2

JOB SUMMARY

SP&C empowers the Operations, Technology and Digital teams within Max Life. This team manages the planning, budgeting, training, outsourcing, project management and process controls for the largest non-sales patch in the organization. To run efficient and profitable operations, it is imperative to plan effectively for all large projects as well as unit level transactions. There are 4 functions within SP&C

Project Management & Transformation Office: There are various projects and initiatives that each of the various functions within the fulfillment group (FLG) and Digital/Tech are working on - some of which are of strategic importance at the org./CEO level. These projects need to be managed centrally at the COO\'s office such that the (CEO - 1) level of governance is effective in ensuring deliveries on these projects. Moreover, the functions themselves need augmentation of their bandwidth to be able to manage these projects better and also effectively solve for the respective problem statements. This will include projects in key areas such as protection and underwriting, customer agenda, fulfillment, renewals and capability building projects in technology.

Strategy, Planning and Budgeting: Technology and Digital are strategic growth pillars for Max Life while Operations ensure running an efficient and profitable organization. SP&C team is responsible for evolving the functional planning for Ops and IT, planning for COO\'s patch and managing all organization spends for these verticals. The team helps Max Life run cost efficient operations, arrive at the right strategic decisions for build vs. buy, Capex vs. Opex etc, identifies the projects that deliver the biggest impact, and is the gatekeeper of all the spends. Regular cost reporting, identification of cost saving initiatives and its execution is done by this team.

Outsourcing: There are over 200+ vendors being actively managed by the SP&C team for vendor lifecycle from onboarding to compliance, payments till contract closures. The unit also helps onboarding of vendors for POCs and special purposes, and works closely with business units, procurement and finance teams to manage vendor operations for both Operations and IT.

Process Controls: This unit interfaces with business units and compliance teams to ensure adherence with the regulatory requirements, helps with both internal and IRDAI audit readiness, and proactively monitors and mitigates and compliance related risks. It reports out the status to various regulatory forums and helps with completion of compliance tasks..

KEY RESPONSIBILITIES

Strategy and Planning

• Identification of process improvement measures for efficiencies in the overall vendor management process
• Identify opportunities for automation, transformation & simplification

Vendor Management

• Liaise with the vendors to ensure timely & correct disbursement of payments
• Obtain NDC from vendors
• First point of contact for vendor queries
• Ensure that the delivery of the POs happen on time

Stakeholder Management and Communications

• Prepare and communicate budgetary dashboards, dashboards for key fulfilment KPIs and variance analysis
• Departmental communication for management forums like board meetings, weekly leadership

MEASURES OF SUCCESS

• Adherence to budget
• Be a constant force of change and innovation for the organization, challenging status quo and bringing new ideas for testing and incubation
• Successful archival of knowledge and dissemination of it across business functions
• Positive feedback and appreciation from business owners and decision makers.

Key Relationships

• Digital and Technology COE
• Finance
• Procurement

KEY COMPETENCIES/SKILLS REQUIRED

• 6-8 years; Presently should be in vendor management role
• Bachelors or Masters
• Ability to work with cross functional teams; strong networking and inter-personal skills
• Stakeholder and vendor management skills
• Detail-oriented, organized, critical thinker with strong work ethics
• Excellent communication skills and a thoughtful, persuasive personal style.
• Self-starter, comfortable in a project-oriented environment and comfortable in dealing with large cross functional projects.
• Ability to influence key stakeholders and operational owners through well-articulated strategies backed up with metric driven value statements.
• Analytical skills and judgment to solve problems with limited information at hand by learning and using Statistical tools and logics.
• Should be competent at analyzing both quantitative and qualitative data.

Max Life Insurance