Sr. IT 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 AA- (Very 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.

Sr. IT 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

• 10+ 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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