Sourcing Specialist

Sourcing Specialist

A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. In order to be the best, we hire the best!

Benefits Offered by CoBank:

• Careers with a purpose
• Time-Off Packages, 15 days of vacation, 10 paid sick days and 11 paid holidays
• Competitive Compensation & Incentive
• Hybrid work model: flexible arrangements for most positions
• Benefits Packages, including Medical, Dental and Vision coverage, Disability, AD&D, and Life Insurance
• Robust associate training and development with CoBank University
• Tuition reimbursement for higher education
• Outstanding 401k: up to 6% matching and additional 3% non-elective contribution & Student Loan Match
• Community Impact: United Way Angel Day, Volunteer Day and Associate Directed Contribution
• Associate Resource Groups: creating a culture of respect and inclusion
• Recognize a fellow associate through our GEM awards

Job Description:

As a member of the Vendor Management organization, the Sourcing Specialist is responsible for managing end-to-end procurement activities and vendor contract negotiations across IT hardware, software, cloud services, and consulting services categories. The role leads sourcing events, negotiates favorable commercial terms, and ensures procurement activities align with business objectives through established practices. Working closely with vendors and internal stakeholders, the Sourcing Specialist helps ensure efficient procurement processes, effective supplier management, and cost-conscious purchasing decisions.

Essential Functions:

• Coordinates and executes assigned enterprise sourcing events and end-to-end RFx competitive bid processes in accordance with established procurement practices.
• Identifies, evaluates, and strengthens relationships with key vendors to build and maintain strong supplier partnerships.
• Collaborates with business stakeholders to understand requirements and applies established sourcing methodologies to support business requirements.
• Assists business stakeholders with developing meaningful sourcing requirements to ensure high-quality supplier responses through collaboration with cross-functional teams.
• Coordinates supplier selection processes, scoring evaluations, and cross-functional decision-making activities.
• Develops bid analyses and supports recommendations for leadership review and approval.
• Participates and supports contract negotiations, including pricing, commercial terms, and contractual provisions, to secure favorable agreements and achieve positive business outcomes.
• Evaluates market pricing data and cost models to find cost reduction and supplier consolidation opportunities.
• Coordinates with internal teamssuch as product, operations, finance, and legalto vet third-party vendors and align sourcing strategies with organizational needs and risk tolerances.
• Works closely with the legal group for all contract related legal matters, ensuring the timely review and execution of legal agreements.
• Supports cost reduction efforts through market analysis and strategic sourcing initiatives.
• Supports contract renewals, amendments, and ongoing supplier performance management activities.
• Manages select contract renewals to ensure timely and accurate execution, while strengthening negotiation leverage and supporting continuity of service.
• Acts as resource to others on the team, answers questions and provides training as needed.
• Performs additional duties as assigned, supporting the broader goals of the procurement function and contributing to organizational success.

Education:

• High school diploma or GED required
• Bachelor's Degree in Supply Chain, Business Administration, Finance, or other related fields preferred

Work Experience:

• 5 years in strategic sourcing, procurement, or vendor management, with a focus on IT categories required
• Experience within financial services, technology procurement, or regulated industries preferred
• Working knowledge of Source?to?Contract (S2C) processes and RFx execution.
• Strong knowledge of strategic sourcing methodologies and procurement systems.
• Experience managing competitive sourcing events and supplier negotiations.
• Experience reviewing commercial agreements and contract terms.
• Strong verbal and written communication skills for effective negotiation and relationship building.
• Intermediate understanding of contract language, terms, and risk considerations.
• Demonstrated negotiation skills with the ability to adapt approaches as needed.
• Familiarity with contract reviews and the legal aspects of procurement.
• Basic understanding of accounting principles and data analysis.
• Ability to work collaboratively with internal stakeholders and external vendors.
• Ability to prioritize and schedule work and projects with minimal supervision. Flexible working with multiple teams and balance ongoing projects and work.
• Ability to work independently with minimal guidance, as well as collaboratively in a team environment.
• Excellent interpersonal skills, with the ability to influence and build consensus, and build and maintain effective working relationships with management, associates, vendors, and other stakeholders at all levels.
• Strong judgment, initiative, and accountability in daily responsibilities.
• Strong analytical, decision making and problem-solving skills.
• Strong organizational and time management skills.
• Strong detail and customer service orientation.
• Experience in Microsoft Office and Excel. Oracle and ServiceNow preferred.

About CoBank:

The typical base pay range for this role is between $87,200 - $99,700. Compensation may vary based on individual job-related knowledge, skills, expertise, and experience. This position is eligible for a discretionary annual incentive program driven by organization and individual performance. The listed salary, other compensation and benefits information is accurate as of the date of this posting. CoBank reserves the right to adjust compensation for all positions and to modify or discontinue benefits programs at any time in its sole discretion, subject to applicable law.

CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 76,000 farmers, ranchers and other rural borrowers in 23 states around the country. CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.

REASONABLE ACCOMMODATION:

We are committed to ensuring that our online application process provides an equal employment opportunity to all applicants, including qualified individuals with disabilities. If you are an applicant with a disability, or are assisting an applicant with a disability, and require accessibility assistance or would like to request a reasonable accommodation for any aspect of the application process, including completing an application, interviewing, or otherwise participating in the employee selection process, please submit a request by emailing View email address on click.appcast.io. Include your contact information and specific details about your requested accommodation.

Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment visa at this time.

CoBank is an Equal Opportunity Employer.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.