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AAA Life Insurance Company · 7 hours ago

Procurement Analyst

Livonia, MI

Full-time

Hybrid

Entry, Mid Level

2+ years exp

AAA Life Insurance Company is a respected American brand focusing on Life Insurance and Annuity Products since 1969. The Procurement Analyst will analyze vendor risk and contract data, monitor vendor performance, identify cost-savings opportunities, and contribute to the development and continuous improvement of procurement processes.

Financial ServicesInsuranceLife Insurance

Responsibilities

Collect, track, and analyze Vendor Risk Management (VRM) and Service Level Agreement (SLA) data to drive procurement improvements

Develop and maintain dashboards to provide actionable insights into vendor performance, SLA compliance, contract expirations and procurement trends

Provide reporting to stakeholders to support decisions and highlight cost savings and process optimization opportunities

Enhance and streamline our current SLA tracking program to increase scalability

Monitor the VRM mailbox for new VRMs, ensuring vendor records are updated and tracked

Conduct and distribute VRM Completeness Checks to confirm all vendors have completed the VRM process

Track and escalate overdue VRMs, ensuring timely completion and compliance

Prepare and send monthly VRM status reports to key stakeholders, outlining pending tasks, VL responsibilities, and upcoming due dates

Partner with business units to define clear, measurable SLAs and ensure vendor liaisons (VLs) conduct quarterly reviews to assess compliance and address any deviations

Analyze procurement workflows and VRM/SLA data to identify risks, inefficiencies, and opportunities for improved accuracy

Develop and recommend strategies to enhance vendor accountability and ensure alignment with business objectives

Identify and assess risks related to SLA or VRM non-compliance, escalating issues and coordinating remediation with business units and appropriate level of management

Develop contingency plans to address potential disruptions and ensure continuity of service with minimal impact

Act as a liaison between procurement, vendors, and internal business units to ensure effective SLA and VRM management

Support the procurement team by organizing vendor review meetings and performance check-ins

Qualification

Vendor managementData analysisProcurement processesReporting toolsSLA trackingFinancial softwareAnalytical skillsProblem-solving skillsRelationship-buildingCommunication skills

Required

Bachelor's degree in Finance, Business Administration, Supply Chain Management, Accounting, or related field

A minimum of two (2) years of experience working with vendor management processes, reporting, analytics, and assessments of impacts on the company

Preferred

Experience with procurement processes and systems, reporting tools, SLA tracking and cost accounting preferred

Knowledge of data analysis and development of statistical/financial data for utilization in the formulation of reports with recommendations

Strong analytical and problem-solving skills with a track record of process improvements

Proficiency in MS Office Suite and financial software packages

Knowledge of Procurement/Accounting software applications considered a plus

Strong relationship-building skills. Ability to communicate effectively at various levels within the organization

Company

AAA Life Insurance Company

AAA Life Insurance Company is fueled by our mission of providing financial security and peace of mind to AAA members through our life insurance products, delivering on the outstanding customer service that members have come to expect from the AAA brand.

Founded in 1969

Livonia, Michigan, USA

501-1000 employees