Procurement Associate

Benefits

Additional Information

Position Summary The Procurement Associate is responsible for reviewing contracts with suppliers, ensuring alignment with company policies, legal requirements, and industry regulations. The role conducts cost analysis, negotiates pricing, and collaborates with vendors to secure favorable terms while maintaining quality. They evaluate supplier performance, ensure ethical sourcing practices, and contribute to efficient and compliant procurement processes. What will your job entail? Job Responsibilities: - Drafts, reviews, and manages contracts with suppliers, ensuring alignment with company policies, legal requirements, and industry regulations. - Collaborates with vendors, negotiates contracts, and maintains positive relationships to secure favorable terms and conditions for the procurement of goods and services. - Partners with finance teams to align procurement activities with budgetary constraints, ensuring financial goals are met while maintaining cost-effectiveness. - Conducts cost analysis to optimize spending, negotiate pricing, and seeks cost-saving opportunities while maintaining the quality required for insurance operations. - Identifies, evaluates, and selects suppliers based on factors such as quality, cost, reliability, and compliance with insurance industry standards. - Evaluates supplier performance, providing feedback and initiating corrective actions to ensure that service levels meet the company's expectations. - Works closely with underwriting, claims, and finance, to understand their procurement needs and provides support in vendor selection and contract negotiation. - Ensures that procurement activities align with specific regulations and standards within the insurance industry. Ensures ethical sourcing practices, promoting sustainability and social responsibility in procurement decisions. - Stays abreast of market trends, pricing fluctuations, and emerging suppliers to inform strategic procurement decisions and maintain competitiveness. - Communicates procurement updates to internal teams and generates reports on procurement activities for management review. - Identifies opportunities for process enhancement within the procurement function, implementing best practices to increase efficiency and effectiveness. - Provides training sessions to internal teams on procurement policies, procedures, and industry best practices. Work Experience and Education: - Bachelor's degree required; Business Administration, Finance, Supply Chain preferred. Any other related discipline or commensurate work experience considered. - 6 Months to a 1 year of experience in Procurement or Vendor Management is preferred. Licenses & Certifications: - Chartered Institute of Procurement & Supply (CIPS) is a plus. #OLR Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment. How We Support Our Teammates Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them - and their family members - achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more. The target salary range for this position is $62,000.00 - $65,000.00 annually. The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/. We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at HR@Ryansg.com The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job d