Procurement Operations Support (PF2) 33641

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • New York Life Insurance Company
  • 28 Sep 16

Procurement Operations Support (PF2) 33641

New York Life Insurance Company ("New York Life" or "the company") is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterey New York Life in Mexico.

New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2015 operating earnings of $1.875 billion. Total assets under management at year end 2015, with affiliates, totaled $528 billion. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody's Aaa; Standard & Poor's AA+. (Source: Individual Third Party Ratings Report as of 8/11/15).

Financial strength, integrity and humanity-the values upon which New York Life was founded-have guided the company's decisions and actions for over 170 years.

Position Summary:

The Procurement Operations Support role is responsible for supporting the Lead, Procurement Operations in managing downstream processes for the procurement function. This role will act as a bridge to assist buyers in successfully supporting the stakeholders through the purchasing process. This role will provide support to specific processes, vendors and operations functions.

Key roles include providing guidance on purchase requirements, triaging requests, enforcing policy and procedures and general customer support for Procurement Operations co-sourced functions (including spot buy, help desk, buyer portal, requisition and PO processing and catalog enablement).

This support role will develop and use tools and techniques to effectively manage the process flows related to procurement. This role is also responsible for continuous improvement as the organization matures.

This role reports to the Lead, Procurement Operations.

Major Responsibilities:

  • Understand technology and adhere to purchasing policies and procedure
  • Point business units to the appropriate buying channels or necessary points of contact
  • Understand approval processes and directing buyers to the appropriate contacts (i.e. ARB/SRB/etc
  • Coach on the application of a specific procurement system and teach others how to use advanced technologies and tools for a specific procurement system
  • Provide superior customer service and assists with any issues business units might have with any of the existing buying channel
  • Escalate any issues to management for resolution
  • Participate in process documentation and continuous improvement
  • Ensure orders adhere to supplier agreements and contracts; reports nonconformances.
  • Implement reporting metrics tracking key departmental KPI's
  • Track orders and confirm system lead times, delivery dates, and costs within system
  • Work with asset management resource as needed to triage support requests for asset management activities
  • Provide spot buy support for all IT purchases
  • Liaison between Accenture and NYL for issue escalation and triage for Req2PO
  • Act as a SME, understanding required processes and key points of contact within the organization and procurement systems


Key Skills:

  • Procurement Operations - Knowledge and experience in various buying channels and key functions including s pot buy, help desk, buyer portal, requisition and PO p rocessing and catalog enablement
  • Data Management - Demonstrates attention to detail in the collection and organization of data. Maintains a constant focus on data integrity.
  • Procurement Process Knowledge - Demonstrates an understanding of relevant procurement processes (e.g., category management, strategic sourcing, contract management, purchasing)
  • Budget and Finance - Demonstrates an understanding of budgetary and financial functions, processes, timelines, constraints, and how each impacts or enables the procurement process (including annual cycles, budget initiatives, and finance activities). Understands how budget and finance functions are managed through the organization.
  • Prioritization and Workload Management - Demonstrates the ability to manage multiple activities / projects simultaneously. Understands how to prioritize tasks independently.
  • Issue Resolution and Problem Solving - Demonstrates the ability to analyze problems, identify and consider potential solutions, and make timely recommendations. Works with others to effectively address issues if necessary.
  • Continuous Improvement - Collaborates with internal and external stakeholders to evaluate current business processes to streamline / remove inefficiencies.
  • Oral and Written Communication - Communicates clearly and adapts style to suit audience requirements (both, in verbal and written form). Demonstrates ability to listen, interpret and present information effectively using verbal and non-verbal cues. Actively listens when others are communicating and demonstrates receptivity to ideas presented.

Preferred Skills:

  • Experience with general and technology specific procurement processes, purchasing and procurement operations
  • Strong analytical skills
  • Proved ability to manage multiple projects/tasks effectively
  • Experience with Ariba and SAP technologies
  • Understanding of technology procurement and purchasing


Education and Certification Requirements:

  • Bachelor's Degree, preferably in business or other relevant discipline; or a relevant combination of formal qualifications and additional specialized study.
  • 3+ years of Procurement or professional experience.
  • A recognized qualification in procurement would be considered an asset
  • Strong proficiency in computer applications such as Excel, Access, Word and PowerPoint.

SF:LI-DI1

SF:EF-DI1

EOE M/F/D/V

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* Based on revenue as reported by "Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 15, 2015. See http://fortune.com/fortune500/2015/ for methodology.
1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US(GAAP), with certain adjustments Company believes to be appropriate as a measurement approach ( non GAAP), primarily the removal of gains or losses on investments and related adjustments.
2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.