Company Overview: Morningstar is a leading firm with the mission of empowering investors that is dedicated to providing innovative solutions and exceptional service to our clients. With a commitment to integrity, ethics, and a strong dedication to delivering high-quality solutions, we continue to be a trusted partner in the financial success of our clients. As we continue to grow on a global scale in both size and offerings, we are seeking a talented Vendor Manager with extensive experience to join our dynamic and diverse team. The Role: The newly-created position of Vendor Manager will play a critical role in overseeing all aspects of vendor management within our organization, with a focus on compliance, sustainability, diversity, risk management, and performance optimization. You will collaborate closely with internal stakeholders and external parties to ensure alignment with regulatory requirements, corporate standards, and supplier-related best practices. You will drive and execute process and policy on behalf of the Procurement Team in matters related to Vendor Management. Your expertise will be instrumental in enhancing our supplier relationships, mitigating risks, and driving operational efficiency. This role is vital to our long-term Procurement strategy and in creating sustainable and scalable operations in support of Morningstar's growth and continued commitment to stakeholders. This role is based in our Chicago office. We are operating in a hybrid environment where we are in-office 3 days a week. Key Responsibilities Vendor Compliance: * Develop and implement regulatory response strategies, action plans for remediation and compliance, and process change management initiatives. * Ensure compliance with regulatory frameworks across business units and geographical regions. * Monitor and report on the adoption and compliance of Supplier Code of Conduct, Anti-Slavery, Child Labor Laws, and other Morningstar ethics-based practices. * Communicate effectively with vendors to enforce compliance and drive program growth. Sustainability: * Oversee quarterly travel and emissions reporting, supply chain emissions, and sustainability program reporting. * Partner with Enterprise Sustainability to drive program growth and navigate process changes in response to regulatory and corporate requirements. * Conduct system audits of reportable sustainability data to ensure accuracy and compliance. Supplier Risk Management & Analysis: * Implement tools and processes for data gathering and analysis. * Evaluate supplier metrics including financial, operational, and risk factors. * Maintain records and conduct risk analysis to develop effective pipelines and exit strategies. Supplier Diversity: * Implement the Morningstar Program and manage the process effectively. * Collect and analyze current metrics and reporting on supplier diversity. * Drive growth and expansion of the supplier diversity program. Supplier Performance & Relations: * Monitor supplier performance and SLAs, providing guidance and support as needed. * Foster strong supplier relationships through effective communication and collaboration. * Gather relevant information to support all vendor management duties. Supplier Processes & Data Management: * Manage onboarding processes for both business owners and suppliers. * Conduct due diligence and ensure compliance with vendor master ownership and continual record cleanup. * Align records with dependent systems and rationalize supplier products and services. Qualifications: * Bachelor's degree in Business, Supply Chain, Finance, Procurement, or related field. * Vendor Management certifications are a plus. * Minimum of 8 years of proven professional experience, with at least 6 years of direct experience in vendor management practices and processes, preferably within international organizations or in the financial industry. * Working knowledge and experience of vendor management, encompassing: regulatory compliance, sustainability initiatives, supplier diversity, risk management, relations, and performance optimization. * Robust communication and relationship management skills; ability to foster strong relationships. * Detail-oriented with the ability to manage multiple tasks and urgent deadlines. * Proven ability to create and drive process improvements and manage complex vendor relationships effectively. 001_MstarInc Morningstar Inc. Legal Entity Morningstar's hybrid work environment gives you the opportunity to work remotely and collaborate in-person each week. We've found that we're at our best when we're purposely together on a regular basis, at least three days each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.