Senior Procurement Analyst

Odyssey Reinsurance Company (OdysseyRe) is the global reinsurance arm of Odyssey Group, one of the world’s leading providers of reinsurance and specialty insurance. OdysseyRe offers a broad range of property, casualty, and specialty reinsurance products, providing capital and risk management solutions for clients to efficiently manage economic risk, through a network of branch and representative offices across North America, Latin America, EMEA (Europe, Middle East & Africa), AsiaPacific and London.

OdysseyRe is an equal opportunity employer with excellent benefits and a strong commitment to providing training and opportunities for our staff. We provide employees an innovative, enriching environment and take great pride in their career growth.

OdysseyRe is rated A+ (Superior) by AM Best and A+ (Strong) by Standard and Poor’s. Odyssey Group is a subsidiary of Fairfax Financial Holdings Limited, which is traded on the Toronto Stock Exchange under the symbol FFH.

Senior Procurement Analyst   

• Reports directly to the Head of IT Finance & Operations 

• Responsible for supporting all Technology spend (hardware and software) for Odyssey Reinsurance company as well as Corporate Services on an as needed basis. 

• Identify, assess, procure, evaluate, negotiate and manage relationships/contracts with vendors.  

• Analyze and track performance during vendor evaluations, negotiations and service level agreements. 

• negotiation results, SLAS and services rendered. 

• Primary liaison between procurement, business stakeholders, legal, and IT Finance. 

• Ideal candidate will create, influence and further evolve the procurement practice in place.  

Job Responsibilities: 

• Develop and implement strategic sourcing plans (RFx Process) to ensure a stable and cost-effective supply chain. Identify and evaluate potential suppliers, negotiating contracts to secure favorable terms and adherence to internal policies at the highest standard. 

• Drafts, negotiates and manages vendor contracts based on business objectives and collaboration with internal stakeholders. 

• Analyzes and reports on vendor alignment to the organization, effectiveness and customer satisfaction. 

• Identifies and resolves problems, takes a pro-active rather than a reactive approach. 

• Prepares, maintains, files and documents all work in department systems. 

• Identifies opportunities to leverage automation and streamline work. 

• Develops and analyzes a QBR on supplier spending, work and hours. Keeps channels open for renegotiation to improve performance. 

• Provides key information for executive briefings. 

• Collaborate in the budget planning process, procurement strategy pipeline and savings target annual planning.  

• Will design, strategize, and communicate target savings methodology and savings tracking while spending money wisely. 

• Assist in the development and production of quarterly/monthly reporting packages. 

• Interpret financial and operational data and effectively illustrate/communicate links to third party spend. 

• Contribute to ad hoc analytical projects as necessary.  

• Drive cross-functional cost reduction initiatives in the related spend categories and sites. 

• Assist in identifying and implementing best practices in all procurement processes and build supportive internal and external relationships across functions and organizations. 

• Effectively communicate areas of improvements made with key metrics and KPI’s recording. 

• Promote strategic and operational functions for volume aggregation and standardization, supplier base optimization, and development of cost-saving synergies across asset classes. 

• Ability to drive efficiencies for process improvements including suggesting automations. 

Key attributes  

• 5+ years of experience in Procurement and Vendor management. Insurance category experience is a plus. 

• Strong concise verbal and written communication skills. 

• Soft skills to collaborate with business stakeholders, suppliers and associates 

• IT/Digital experience. 

• Analytic and negotiation skills -Systems and digital savvy -Learning agility and the ability to pivot during changing times. 

• Thrive in high pressure environment where deadlines need to be met to deliver goods and services while spending money wisely. 

• Ability to work across teams, build relationships, influence managers, and successfully manage multiple complex priorities. 

• Multi-tasking and organizational skills with a high level of attention to detail. 

• Persuasive written and verbal communication skills. 

• Manages administrative activities encompassing contracts, records, and general file retention. 

• Ability to handle highly sensitive information in a confidential manner. 

• Advanced experience with Microsoft Office - Excel (pivot tables, v-lookup, multiple embedded formulas) and PowerPoint; Access is a plus. 

• Experience with budgeting/forecasting highly preferred. 

• Strong knowledge of SAP preferred. 

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