Senior Associate, Category Manager

Company: New York Life Insurance Company
Location: New York
Posted on: October 31, 2024

Job Description:

Senior Associate, Category ManagerBusiness Overview:A career at New York Life offers many opportunities to be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It's a career journey you can be proud of, and you'll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard.Role Overview:This Category Manager's key responsibilities are to i) lead the planning and development of overarching category strategies, and ii) support the execution of these strategies. Categories in-scope for this role include all labor services - professional services, IT services, management consulting, outsourced services, and third-party administration services.The Category Manager is expected to effectively collaborate with all Relationship Managers to provide coordinated and consistent customer service. The Category Manager will also be expected to effectively interact with business partners and other relevant stakeholders including risk and legal to ensure proper risk mitigation and alignment with business objectives.What You'll Do:

• Articulate, influence and translate external market trends, along with internal business priorities, to develop category insights aligned with NYL objectives.
• Develop short and long term strategies and oversee execution of such strategies that leverage economies of scale and scope across the organization.
• Understand overall spend and suppliers, as well as key clients, reporting structures and relationships within NYL and be accountable for the procurement goals and initiatives.
• Work directly with Procurement Relationship Managers and stakeholders to develop a project pipeline and prioritization schedule.
• Assist in the creation and communication of savings targets and programs based on knowledge of overall category and business unit strategy and support savings execution.
• Ensure management understands the outcomes of proposed actions and manage the implementation of sourcing and contract initiatives, including the transparency of sourcing initiatives and related savings.
• Accountable for managing strategic procurement initiatives and/or programs.What You'll Bring:
  • Bachelor's degree in business or related field of study.
  • 3-5 years relevant work experience.
  • A recognized qualification in procurement would be considered an asset.
  • Category Expertise - Demonstrates category management expertise, including articulating market trends, pricing drivers, supplier capabilities and delivery channels.
  • Project Management - Demonstrates the ability to design, plan, and manage projects to deliver value-added solutions within defined time and cost parameters.
  • Procurement Process Knowledge - Demonstrates understanding of relevant procurement processes (e.g., category management, strategic sourcing, contract management, purchasing).
  • Contract Analysis - Working with the appropriate SME, demonstrates ability to translate commercial negotiations into contract documents.Location Designation: Hybrid - 3 days per weekPay TransparencySalary Range: $95,000-$130,000Overtime eligible: ExemptDiscretionary bonus eligible: YesSales bonus eligible: NoActual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus.Our BenefitsWe provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs.Our Diversity PromiseWe believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community.Job Requisition ID: 90777About NY Life Insurance CompanyDiversity & Humanity-two values that are deeply rooted in the New York Life culture and have laid the foundation for over 175 years of commitment to our employees, agents, policy owners, and the communities where we live and work.
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Keywords: New York Life Insurance Company, Fairfield , Senior Associate, Category Manager, Executive , New York, Connecticut