Vendor Relations, Senior Specialist

Role Overview

Vendor Relations, Senior Specialist at Masterworks, based at Client Site. This role manages vendor relationships, procurement activities, and framework agreements to ensure vendor compliance, commercial efficiency, timely delivery, and effective coordination between internal stakeholders and suppliers.

Role Purpose

Serve as the primary point of contact for vendor relationships and procurement activities, overseeing the complete sourcing and contracting lifecycle while ensuring vendor performance, commercial value, and organizational compliance.

Key Responsibilities

Vendor Relationship Management

• Manage relationships with vendors and serve as the primary point of contact for commercial and operational matters.
• Support vendor performance reviews and implement corrective action plans when required.

Procurement & Sourcing

• Manage procurement activities, including RFQs, RFPs, bid evaluations, negotiations, and vendor selection.
• Review commercial proposals, pricing structures, and cost breakdowns to ensure competitiveness and value for money.

Contract Administration

• Develop, review, and administer framework agreements, work orders, purchase orders, and contract amendments.
• Maintain accurate records of contracts, vendor documents, approvals, and related correspondence.

Vendor Performance & Monitoring

• Monitor vendor performance against contractual obligations, KPIs, SLAs, timelines, and deliverables.
• Track agreement utilization, budgets, invoices, payments, renewals, and remaining contract values.

Risk Management & Compliance

• Identify contractual, financial, and operational risks and escalate issues proactively.
• Ensure compliance with internal procurement policies, governance requirements, and applicable regulations.

Stakeholder Coordination

• Coordinate with procurement, contracts, finance, legal, and business teams throughout the sourcing and contracting lifecycle.

Qualifications & Experience

• Bachelor's degree in Business Administration, Finance, or a related field.
• 4–5 years of relevant experience in vendor management, procurement, contracts, or supply chain.
• Strong experience in procurement processes and framework agreement management.
• Solid knowledge of contract administration, work orders, purchase orders, pricing evaluation, and vendor performance management.

Skills & Competencies

• Procurement and strategic sourcing.
• Framework agreement management.
• Vendor relationship and performance management.
• Commercial evaluation and negotiation.
• Contract and work-order administration.
• Budget, invoice, and payment tracking.
• Risk identification and issue resolution.
• Stakeholder management.
• Reporting and data analysis.
• Strong communication and negotiation skills.