Senior Sourcing Specialist (Payments, Networks, Credit & Debit Processing)

Senior Sourcing Specialist

The Senior Sourcing Specialist is expected to manage complex sourcing activities. These include but not limited to, statement of work, work authorization, change orders, renewals, amendments, Non-Disclosure Agreements and Master Agreements. The Senior Sourcing Specialist coordinates with Risk team to ensure compliance with banking regulations. In addition, teammate builds relationships with business partners, suppliers, Contract Manager, Procurement Legal, Category Directors/Managers and Procurement Operations.

Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

• Manages all aspects of and drives request through the Truist procure to pay process.
• Coordinates with Truist stakeholders, including but not limited to contract management. Legal and other SMEs concerning supplier's contractual provisions related to business-as-usual requests (i.e. non-strategic requests).
• Negotiate contract spend which is reasonable and competitive within market, amount of goods and services procured, term of the agreement and business budgetary needs.
• Strives to achieve cost avoidance or cost out during negotiations, as well as, the bank's total enterprise spend with the supplier
• Ensures contract terms and conditions align with business needs and appropriate parent agreement.
• Develops relationships with business partners, suppliers, Contract Managers, Legal, Category Directors/Managers and Procurement Operations.
• Guarantees department procedures are followed including: managing business expectations and dates, weekly status updates, and legal/contract manager assignment.
• Reviews contract request for potential Purchase Order Procurement method.
• Ensures request meets Purchase Order requirements and obtains manager approval.
• Acts as a resource for business on Purchase Requisition process.
• Coordinates project kick-off and Third Party Risk Assessments calls with proper SME teammates and verifies risk ratings are correct in system of record prior to contract signature.
• Serves as a mentor to and assist with training of more junior teammates.
• Complies with company policies, procedures, and regulatory standards.

Required Qualifications:

• Bachelor's degree in a relevant business field of study or 4-6+ years of experience in organizational Sourcing/Procurement or equivalent experience.
• Expert in procurement and supply chain management.
• Skilled with contractual structure Identify legal and business issues and risks.
• Ability to interact tactfully with numerous stakeholders.
• Adept at prioritizing own workload to meet competing deadlines.
• Excellent verbal and written communication skills along with organization skills.
• Proficient in Microsoft Word, Excel, Outlook, and PowerPoint.
• Strong relationship management skills and the ability to quickly gain trust and confidence of senior leaders within Truist.

Preferred Qualifications:

• Experience with SAP - Ariba or other similar procurement software.
• Experience with Archer or other similar risk software.
• Specific knowledge of one or more of the following categories: Banking Services, General & Admin, Human Resources, Professional Services, Real Estate, Data, IT and Telecom, Sales and Marketing.
• Certified Professional in Supply Management (CPSM).
• Previous experience in financial services industry.

To comply with the Virginia, pay transparency statute and for work locations in Virginia only. The annual base salary for this position is $86,500 - $164,350 USD

Truist is an Equal Opportunity Employer that does not discriminate on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status, or other classification protected by law. Truist is a Drug Free Workplace.