Job Description
Job Title
Manager - Vendor Management & Outsourcing Governance Specialist
Location
Gurgaon HO
Department
SP&C
Function
SP&C
Reporting to
VP SP&C
Band
4
Role Type
Team Lead
Scope
Operations, Technology and Digital vendors
JOB SUMMARY
SP&C empowers the Operations, Technology and Digital teams within Axis Max Life. The team manages planning, budgeting, training, outsourcing, project management and process controls for the largest non-sales patch in the organization. To run efficient and profitable operations, it is imperative to plan effectively for all large projects as well as unit-level transactions.
The Vendor Management & Outsourcing Governance role will anchor end-to-end vendor lifecycle management across Operations, Technology and Digital vendors. The role will support vendor onboarding, documentation, contract and PO coordination, payment governance, query resolution, compliance tracking, audit readiness, performance governance and closure activities, while working closely with business units, Procurement, Finance, Legal, Risk and Compliance.
There are 4 functions within SP&C:
Project Management & Transformation Office: Centrally manages strategic projects and initiatives across FLG, Digital and Technology to enable effective CEO-1 governance, delivery tracking, problem solving and functional bandwidth augmentation.
Strategy, Planning and Budgeting: Supports functional planning for Ops and IT, manages spends for COO patch verticals, drives build-vs-buy and Capex-vs-Opex decisions, performs cost reporting and identifies cost-saving initiatives.
Outsourcing and Vendor Management: Manages 200+ active vendors across the vendor lifecycle, including onboarding, due diligence, documentation, compliance, contract/PO/payment coordination, vendor performance governance, escalations, renewals and closures. The unit also supports onboarding of vendors for POCs and special purposes, and partners with business units, Procurement and Finance to ensure smooth vendor operations for Operations and IT.
Process Controls: Interfaces with business units and compliance teams to ensure adherence to regulatory requirements, internal and IRDAI audit readiness, proactive compliance monitoring, risk mitigation and reporting to regulatory forums.
KEY RESPONSIBILITIES
Vendor Lifecycle Management
- Manage vendor onboarding requirements, documentation checklists, due diligence coordination and master-data creation in partnership with Procurement, Finance, Legal, Risk and business teams.
- Act as the first point of contact for vendor queries, escalations and service requests, ensuring timely resolution and clear communication.
- Maintain a central vendor tracker covering onboarding status, contract/PO details, SLA ownership, payment status, compliance requirements, renewals, exceptions and closures.
- Coordinate vendor exits and closures, including NDC / no-dues confirmation, documentation archival and closure sign-offs.
Payments, PO and Contract Coordination
- Liaise with vendors, business owners, Procurement and Finance to ensure timely and accurate processing of invoices, payments, purchase orders and supporting documents.
- Track payment ageing, pending invoices, deviations and bottlenecks; drive closure through structured follow-ups and escalation governance.
- Support contract, SOW, PO and renewal workflows by ensuring required approvals, documentation and operational inputs are completed within timelines.
Vendor Governance and Performance Management
- Set up and run periodic governance with key vendors and internal stakeholders to review deliverables, SLA adherence, open issues, risks and improvement actions.
- Prepare vendor dashboards covering onboarding TAT, payment TAT, compliance status, SLA misses, escalations, ageing items, renewals and closure status.
- Identify process gaps across vendor operations and drive improvements, standardization, automation opportunities and better control mechanisms.
Compliance, Risk and Audit
- Ensure strict adherence to IRDAI regulations, outsourcing guidelines, internal policies, procurement norms and information security / risk requirements as applicable.
- Support internal, statutory, regulatory and IRDAI audit readiness by maintaining complete vendor records, evidence packs and compliance trackers.
- Identify potential regulatory or operational outages, highlight risks proactively and coordinate mitigation actions with relevant owners.
Stakeholder Management and Communication
- Partner with Operations, Digital, Technology, Procurement, Finance, Legal, Risk and Compliance teams to ensure smooth vendor operations and issue resolution.
- Prepare and communicate dashboards, ageing reports, governance updates, variance commentary and management-level summaries for leadership forums.
- Drive structured communications for vendor-related updates, escalations, approvals and governance forums.
Team Management
- Set goals and monitor delivery for team members / vendor operations support resources.
- Provide performance feedback, coaching and development support.
- Support learning, cross-training, SOP adherence and retention of key process knowledge.
MEASURES OF SUCCESS
- Timely vendor onboarding, renewals and closures with minimal ageing and rework.
- High adherence to payment TAT, PO / contract timelines and documentation completeness.
- Strong audit readiness with accurate vendor records, evidence packs and compliance trackers.
- Reduction in vendor escalations, payment ageing, open compliance items and repeat process gaps.
- Positive feedback from business owners, vendors and decision makers on responsiveness, governance and issue resolution.
- Identification and execution of vendor process improvements, cost controls and automation opportunities.
- Successful archival and dissemination of vendor process knowledge across business functions.
KEY RELATIONSHIPS
- Digital and Technology COE
- Operations functions
- Procurement
- Finance
- Legal
- Risk, Compliance and Information Security
- External vendors / partners
KEY COMPETENCIES / SKILLS REQUIRED
- 6-8 years of experience in vendor management, outsourcing governance, procurement operations, contract / PO coordination, finance operations, compliance operations or related roles.
- Strong understanding of vendor lifecycle activities, including onboarding, documentation, due diligence, PO / invoice coordination, payment tracking, renewals and closures.
- Experience in managing cross-functional stakeholders across business, Procurement, Finance, Legal, Risk, Compliance, Technology and external vendors.
- Knowledge of outsourcing, audit, compliance and regulatory-control requirements; experience in BFSI / insurance will be preferred.
- Strong governance mindset with ability to manage dashboards, trackers, SOPs, ageing reports, escalations and management updates.
- Detail-oriented, organized and process-driven, with strong follow-through and ownership.
- Excellent communication skills with the ability to manage vendors, influence stakeholders and present concise updates to leadership forums.
- Analytical skills to identify bottlenecks, interpret quantitative and qualitative data, and recommend process improvements.
- Comfortable working in a project-oriented, high-volume, cross-functional environment.
- Proficiency in MS Excel and PowerPoint; exposure to ERP / procurement / workflow tools will be an added advantage.
DESIRED QUALIFICATION AND EXPERIENCE
- Bachelor’s degree required; MBA / PGDM / Master’s degree in Finance, Operations, Supply Chain, Business Administration or related field preferred.
- 6-8 years of relevant experience in vendor management, outsourcing, procurement operations, contract administration, finance operations or compliance-oriented operations.
- Prior experience in BFSI, insurance, shared services, technology operations or operations governance environment will be preferred.
ABOUT AXIS MAX LIFE INSURANCE
Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr. For more information, please visit the company website at www.axismaxlife.com.
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