Sourcing and Contract Manager

The next part of your journey is right around the corner — with The Standard.

A genuine desire to make a difference in the lives of others is the foundation for everything we do. With a customer-first mindset and an intentional focus on building strong teams, we’ve been able to uphold our legacy of financial stability while investing in new, innovative technologies that support the needs of our customers. Our high-performance culture focused on operational excellence thrives thanks to remarkable people united by compassion and a customer-first commitment. Are you ready to make a difference?

Job Summary

The Sourcing & Contract Manager job family will have primary responsibility for supporting Standard Insurance’s internal stakeholders with:  

• Mitigation of supplier-related risk 

• Procurement of services, products, commodities, and professional services from various third-party providers 

• Supplier performance management support for suppliers not managed by the Supplier Relationship Manager (SRM) team 

• Thought leadership and collaboration on supplier-focused strategy with the Lines of Business we support  

As part of the Supplier Management & Governance team, these roles are responsible for leading purchasing and sourcing strategies in collaboration with business partners and budget managers. This job family facilitates the selection of third-party providers through effective negotiations of contracts and service agreements in adherence to company policies and procedures. Effective communication, reporting, and stakeholder coordination are essential delivery elements to ensure customer satisfaction, team member satisfaction and financial success. Additionally, the roles in this job family research and maintain current views of industry and supplier capabilities, market intelligence and financial analyses to effectively assist with customer sourcing needs. These roles partner with key due diligence internal business areas such as Legal & Compliance, Human Resources, Third Party Risk Management, IT Asset Management, and Information Security to mitigate a variety of risks. 

Principal Duties & Responsibilities:

• 60%       Develop, review, and negotiate Master Professional Service Agreements and Amendments, Statements of Work, Service Agreements, and vendor agreements to support business activities and departmental needs in adherence with SMG’s procedures and company policies. Draft and redline commercial components and negotiate terms & conditions, pricing, and key contract terms. Prepare, review, execute, and manage the process for approval of contracts, contract renewals, terminations, and change orders. Follow the strategic direction set by senior management and execute on corporate and departmental goals and initiatives. 

• 20%       Execute purchasing and category strategies while managing the entire procurement process resulting in the best possible terms for value/cost savings, TCO, quality, risk-mitigation, regulatory compliance, service, and delivery. Assist with risk analysis to identify issues and develop risk mitigation strategies. Be able to effectively communicate risk to business owners and functional partners.  Identify and realize cost-reduction and cost-avoidance saving opportunities.  Support RFx creation/management, third-party provider communications, market research/analysis, data collection/analysis, third-party provider evaluation and selection recommendations, business proposals and contract negotiations. 

• 15%       Partner with internal stakeholders to define product/service requirements and lead competitive sourcing initiatives/RFx events for product, services, professional services, and IT-related business needs. Act as a consultant to business partners and a valued resource to stakeholders for the procurement of goods and services.  Meet and exceed the expectations and requirements of internal and external customers, establishing and maintaining effective relationships, fostering trust and respect as a “trusted advisor”. Proactively develop and manage positive relationships with stakeholders, third party providers, business partners, and peers; must be able to balance, influence and align internal customer needs with corporate business goals. Maintain positive relationships with key third-party providers and be able to creatively problem solve issues and effectively handle escalations should they arise. Lead continuous quality improvements in processes and tools resulting in increased efficiencies.

• 5%         All other duties as assigned. 

Skills and Background You’ll Need

• Required experience: 3-5 years of experience in contract management, sourcing, procurement, and/or supply management.

• In depth knowledge of Procurement strategy, processes, systems/tools and procurement/supplier management best practices. 

• Required education: High School Diploma

• Preferred Education:  Bachelor's degree in Business or related field or Masters

• Preferred professional licensure or certification: CPSM, C.P.M., CPIM, or CSCP or equivalent certification is strongly preferred. 

Key Behaviors of a Successful Candidate

• Experience in negotiation of assets, outsourced service, hardware and software/Cloud, and professional services contracts. 

• Proven negotiation, contracting and project management skills with the ability to lead and prioritize activities. 

• Collaboration, cooperation, and teamwork. 

• Proficient in the use of MS SharePoint, Excel, Word and PowerPoint, and at workload and time management. 

• Proficient skillset in analyzing cost data, research market trends, identify best practices, and manage supporting contract development activities.

We have built an enduring legacy of stability, financial strength and exceptional customer service through the contributions of the service-oriented people who choose to work at The Standard. To ensure we can attract and retain the best talent, when you join The Standard you can expect:

• A rich benefits package including medical, dental, vision and a 401(k) plan with matching company contributions

• An annual incentive bonus plan

• Generous paid time off including 11 holidays, 2 wellness days, and 8 volunteer hours annually — PTO increases with tenure

• A supportive, responsive management approach and opportunities for career growth and advancement 

• Paid parental leave and adoption/surrogacy assistance

• An employee giving program that double matches your donations to eligible nonprofits and schools

In addition to the competitive salary range below, our employee-focused benefits support work-life balance. Learn more about working at The Standard.

• Eligibility to participate in an incentive program is subject to the rules governing the program and plan. Any award depends on a variety of factors including individual and organizational performance.

The actual compensation for this role will be based on a combination of education and experience, knowledge and skills, position budget, internal equity, and market data.

Salary Range:

Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Mortgage Investors, LLC, StanCorp Investment Advisers, Inc., and American Heritage Life Insurance Company and American Heritage Service Company, marketed as The Standard, are Affirmative Action/Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender identity, sexual orientation, age, disability or veteran status or any other condition protected by federal, state or local law. Except where precluded by state or federal law, The Standard will consider for employment qualified applicants with arrest and conviction records pursuant to the San Francisco Fair Chance Ordinance. The Standard offers a drug- and alcohol-free work environment where possession, manufacture, transfer, offer, use of or being impaired by an illegal substance while on The Standard's property, or in other cases which the company believes might affect operations, safety or reputation of the company is prohibited. The Standard requires a criminal background investigation and employment, education and licensing verification as a condition of employment. All employees of The Standard must be bondable.