Director, Vendor Management

Job ID
Jersey City


About Lord Abbett:


Founded in 1929, Lord Abbett is an independent firm with a singular focus on the management of money. Over the course of our history, we’ve earned a sterling reputation for our leadership, influence, and innovation in the asset management industry. Today, our independent perspective, our commitment to active management, and our intelligent product design continue to make us relevant to individual and institutional investors.


From the very beginning, we’ve recognized that our people are our greatest asset. As an investment-led, investor-focused firm, we value intellectual curiosity, teamwork, and collaboration across the organization.


We’re looking for people with a keen interest in working for a trusted leader in the asset management industry, a desire to expand their knowledge, and a passion for delivering a client experience that exceeds expectations.

Now that you know our history, are you ready to be part of our future?


Job Overview:


Lord Abbett is seeking a Director of Vendor Management to join our Finance Department.   This position will be a firm-wide resource and expert in managing vendor risk and overseeing the procurement function with emphasis on understanding best practices around pricing and service level agreements.


Responsibilities include, but are not limited to:

  • Lead firm Vendor Risk Management effort, including re-evaluation of current process and leading effort to recommend and then implement a software solution.

  • Evaluate new vendors to determine criticality working closely with BCP coordinator, support vendor leaders with recurring reviews and firm resource to guide all areas of the firm with review of non-critical vendors

  • Manages procurement process with a focus on information technology and market-data.

  • Ensures products and services are purchased in the most cost- and time-efficient manner.

  • Responsible for contract management duties including negotiations, renewals, and terminations.

  • Reduce material lead-times through vendor managed inventory programs, frequent supplier communications and forecasting equipment requirements.

  • Provides purchasing planning and control information by collecting, analyzing, and summarizing data and trends.

  • Identify opportunities for cost and price reductions with current vendors and alternative vendors.

  • Evaluates contracts and vendors; makes final decisions regarding suppliers.

  • Lead program and analyses related to lease vs. buy decisions 

  • Execute annual cost savings, cash improvement and action plans to deliver the corporate objectives for year over year improvement in both. 

  • Remains current on industry changes and product development in assigned commodity area. Broad based knowledge encompassing all technologies (network, server, database, virtual, cloud, etc.) and their vendors and consultants.



  • Typically requires 7+ years of managerial vendor management and/or procurement experience.
  • Experience in vendor management and strategic sourcing
  • Capable of resolving escalated issues arising from operations and requiring coordination with other departments.
  • Knowledge of procurement systems and supply chain best practices and processes
  • Experience in building and documenting standard operating process for logistics and procurement
  • Budgeting, inventory, and cost-management skills
  • General knowledge of accounting, finance, marketing, and logistics.
  • Bachelor's Degree



Personal Characteristics Required:


  • Ability to establish and maintain strong positive relations with suppliers and service providers
  • Able to identify, analyze and resolve problems.  
  • Exceptional attention to detail and strong organizational skills
  • Ability to work independently and make sound decisions.
  • Well-developed interpersonal skills and excellent communication skills, both oral and written



Lord Abbett is an equal employment opportunity employer. We are committed to providing equal employment opportunities to all qualified individuals without regard to the following legally protected characteristics: race, color, religion, sex, pregnancy, national origin, age, physical or mental disability, marital status, sexual orientation, sexual identity, caregiver status, military/veteran status, or any other characteristic protected by local, state or federal law. All employment decisions at Lord Abbett are based solely on the applicant’s relevant experience, skills and qualifications.


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