Master Data Management Lead

Overview

NorthMark Strategies is a leading investment firm, combining capital, innovation, and engineering to drive long-term value. From operating complex businesses to backing breakthrough technologies, our mission is to build enduring businesses. Our team combines intelligent risk-taking, operational excellence, exceptional talent, and world-class computing capacity to create shareholder value.

Position

The Vendor Master Data Management (VMDM) Lead reports to Procurement Operations Manager and is accountable for Vendor Master Data Management in the ERP and Source-to-Pay System. The individual in this position will work closely with Procurement and Accounts Payable Leadership teams to improve Vendor data quality, define Vendor Master Data requirements, and drive best practices for vendor data management. The key attributes of a successful candidate include initiative-taking, the ability to deal with ambiguity, a can-do attitude, demonstrated ability to deliver against goals and timelines, structured critical thinking, and the ability to take complex problems and break them down into simple tasks. This is an exciting opportunity to broaden your Procurement and Supply Chain knowledge and apply it in a very dynamic environment across a diverse set of stakeholders.

Responsibilities

• Define best practices, implement, and enforce standardized naming conventions and data formats for consistency and vendor data normalization.
• Conduct thorough analysis and validation of vendor data to ensure accuracy and completeness.
• Collaborate with cross-functional teams to integrate VMDM processes with Enterprise Resource Planning (ERP) systems.
• Ensure that vendor data is standardized to meet spend analytics requirements.
• Perform regular audits on vendor records to identify and rectify discrepancies and duplicates.
• Automate and optimize VMDM workflows to enhance efficiency and reduce manual errors.
• Collaborate with vendors to obtain and validate critical information, ensuring ongoing data accuracy.
• Provide training and support to internal teams regarding VMDM best practices and procedures.
• Generate reports and analytics on vendor data quality and compliance for management review.
• Contribute to continuous improvement initiatives to enhance overall procurement processes.
• Manage the vendor onboarding process for new vendors, including full vendor qualification, completing the restricted party screening, vendor financial analysis and information security screening in collaboration with the Information Security team.
• Monitor compliance of existing vendors with the qualification criteria and maintain current vendor status.
• Set up and maintain vendor master in the financial (ERP) systems, working in collaboration with Finance.
• Assist vendors in completing the onboarding requirements, supporting vendors and category managers in ensuring vendors are onboarded on time.
• Track and communicate vendor onboarding status to Category and purchasing teams.
• Serve as the subject matter expert for vendor data, manage the vendor onboarding tool (Coupa), and function as gatekeeper for vendor onboarding.
• Manage the vendor onboarding policy and standard and ensure compliance with the policy.
• Communicate with incumbent and prospective vendors during the onboarding process or vendor evaluations.
• Support Vendor Risk and Compliance Manager in developing Vendor risk & compliance reports.
• Maintain vendor risk and compliance ratings and communicate proactively any emerging risks. Monitor critical business changes and risks for business critical and strategic suppliers.
• Provide training and support to internal teams on Vendor Risk & compliance management.

Requirements

Benefits

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