Strategic Sourcing Analyst I

Job Description

Job Description

Job Title:  Strategic   Sourcing Analyst I

Location: Buffalo, NY

Hire Type:  Contingent

Pay Range: $33.00/hour 

Work Type:  Full-time 

Work Model:  Remote

Work Schedule:  Monday – Friday, 8am – 5pm

Recruiter   Contact:   Natalie Dunn| View phone number on ziprecruiter.com|  View email address on ziprecruiter.com

Nature & Scope:

Positional Overview

Imagine Staffing is recruiting for a  Sourcing Analyst I on behalf of our client, a leading financial institution in  Buffalo, NY , serving individuals, businesses, and communities across the eastern United States. Known for its strong regional presence, commitment to community engagement, and focus on long-term customer relationships, the organization offers a stable and collaborative work environment with opportunities for growth.

In this role, you will be responsible for working with business and support units to help source suitable vendors at the best price to meet requirements. Carries out the Strategic Sourcing process designed to maximize competition and leverage when selecting and contracting with chosen vendors. Negotiate contracts generally up to $1 m in value.

Role & Responsibility:

Tasks That Will Lead to Your Success

• For sourcing initiatives, work with management to identify an Executive Sponsor and a cross-functional project team to ensure appropriate buy-in, support and participation throughout the project.
• Guide the Project Team through the Strategic Sourcing process and keep the Executive Sponsor and relevant senior managers informed of progress, setbacks and obstacles. 
• Lead a kick-off meeting with the Project Team to clarify the objectives, strategy and proposed timeline of the sourcing initiative. 
• Develop and execute Requests for Proposals (RFPs), Requests for Quotes (RFQs) and/or Requests for Information (RFIs) based on identified business needs, market conditions and corporate standards. 
• Facilitate analysis, evaluation and scoring of vendor proposals against criteria established and agreed on by the team. 
• Conduct multiple rounds of bids and coordinate activities such as vendor demonstrations, reference calls and on-site visits to short-list vendors. 
• Lead contract negotiations in conjunction with the Project Team and Legal to ensure we obtain the most competitive pricing and favorable terms possible.
• Prepare sufficient documentation to inform Executive Sponsor and senior managers of recommendations and results of the sourcing initiative, including any savings achieved, customer implications and impacts on business operations.
• Guide business and support units through the Third-Party Risk Management Program in conjunction with the Third-Party Risk Management team to ensure selected vendors are properly risk-tiered, vetted and approved before executing a contract.
• Research and analyze procurement trend data at the Bank and recommend savings opportunities to associate business lines and support functions.
• Understand and adhere to the Company's risk and regulatory standards, policies and controls in accordance with the Company's Risk Appetite. 
• Identify risk-related issues needing escalation to management.
• Promote an environment that supports diversity and reflects the brand.
• Maintain internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Skills & Experience

Qualifications That Will Help You Thrive

• 5–8+ years of progressive experience in Strategic Sourcing, Procurement, Vendor Management, Supply Chain, Third-Party Risk Management
• Experience managing sourcing initiatives valued at up to $1M+.
• Banking, financial services, insurance, or other regulated industry experience is highly preferred.
• Experience partnering with Legal, Risk, Compliance, Finance, Technology, Business Leaders
• Proven history of leading complex sourcing projects from intake through contract execution.