Octane is a Fintech company whose mission is to connect people with their passions. The transaction process for large purchases such as powersports, RVs, boats, and home improvements is slow and frustrating, but Octane is changing that through automated underwriting, innovative credit products, and financing through our in-house lender Roadrunner Financial. Octane reaches millions of enthusiasts through editorial brands like Cycle World and Cycle Volta and helps consumers buy their favorite products with instant, frictionless financing on Octane.co. Octane is revolutionizing lending in under-served verticals that account for tens of billions of dollars in annual transactions.
Octane is gaining traction quickly with customers, as evidenced by growth in originations through our platform of more than $1B since inception. Octane works with more than 3,500 merchants in the USA and offers promotional financing with low rates for more than 40 OEM brands. Because we’re the platform and the lender, we have both high growth and positive unit economics - rare for a fintech. We have raised more than $192M in capital from leading investors, including Valar Ventures, IA Ventures, Contour Venture Partners, Third Prime, Progressive Insurance and Citi Ventures and our lending securities are rated AA by Standard & Poor’s.
We seek a Vendor Management Lead to join our rapidly-growing company as part of an effort to optimize our vendor cost structure. As a member of the FP&A team, you will have an integral role in the sourcing of products and services for Octane, ensuring that all new vendor contracts/pricing are in line with the overall goals of the company. Additionally, you will work with internal departments to strike the appropriate balance between quality and cost by reviewing past purchases and contracts to assess return on investment and to apply those learnings to our future growth plans.
As Octane expands in-house teams to support our rapid growth, the Vendor Management Lead will focus on providing consistency and quality of spending across the organization. This is a critical part of our overall goal as the FP&A team: to ensure that we are investing the right amounts in the right areas to hit long-term financial and operational targets.
The role will report directly to our VP of FP&A. Work location is flexible within the U.S.
- Partner cross-functionally with company leadership to understand their product and service needs
- Manage internal/external customer relationships to improve customer satisfaction, meet established deadlines, promote procurement best practices, and communicate forecasts, needs, and opportunities
- Identifying areas for improvement to continually drive performance and business results
- 8+ years of procurement experience across the entire source to pay cycle, with particular emphasis on the negotiating portion of the process
- 6+ years of contract negotiation experience
- Exceptional tactical and logistics management skills
- Excellent written and verbal communication skills with all levels of staff, including C-suite
- Detail-oriented, highly-organized, focused, and objective-driven workstyle
- Unimpeachable ethical standards
- Strong data analysis and reporting
What you’ll do:
- Lead negotiations and contracts, collaborating with the relevant stakeholders (IT, Risk, Legal, Sales, Tech, etc.) to optimize terms, cost, and deliverables, ensuring the maximum quality of service/goods while mitigating enterprise risks
- Assist business leads with optimal vendor selections, guiding decision-making to best manage the company's spend in line with corporate priorities and needs
- Conduct ongoing return on investment analysis on all existing vendors to ensure there are no duplicate vendors providing similar services and build an assessment framework to ensure that we are partnering with the optimal vendors for our current and future needs, with particular emphasis on the cost side of the equation
- Optimize our vendor spending through consistent review of past and future potential agreements
What you’ll bring to the role/team:
- Experience: A minimum of 10 years of total work experience, with 6 years of progressively responsible roles within sourcing or procurement
- Industry exposure: Background working in high-growth SaaS/tech/Fintech companies preferred
- Negotiation: Strong negotiation and conflict resolution skills, capable of managing complex engagements while working with team leads across the organization
- Communication: Excellent verbal and written communication, utilizing persuasive and analytical viewpoints
- Robust Health Care Plans (Medical, Dental & Vision)
- Generous Parental Leave
- Up to 5 weeks time off (self-managed)
- Retirement Plan (401k) with Company non-elective contribution AND company match!
- Educational Assistance/Tuition Reimbursement up to $3K/year
- Life Insurance (Basic, Voluntary & AD&D)
- Short Term / Long Term Disability
- Team Activities (remotely)
- Robust Ancillary benefits including accident insurance, hospital insurance, etc