Strategic Sourcing Manager, Vice President

Job Summary:

The Strategic Sourcing Manager is responsible for several key areas focused on (1) the development and execution of comprehensive sourcing and category strategies and (2) the successful execution of those strategies to drive greater efficiency, value, and quality across the organization. In support of this work, this position is also responsible for building sustained value-based relationships with stakeholder and suppliers, providing subject matter expertise, strategic guidance, and leadership in contract negotiations to achieve defined business objectives. Develop, instill and demonstrate sustained performance with performance management/reporting, compliance, issue/escalation management, and continuous improvement routines are critical for success in this role. The primary objective of this position is to efficiently save the Bank money while maintaining an acceptable level of risk and sustaining value-based interdepartmental relationships.

Strategic Sourcing Strategy Development & Execution:

• Develop a comprehensive strategic sourcing strategy for various lines of business in alignment with defined business objectives and overall corporate objectives
• Lead the end-to-end sourcing process and facilitate analysis and collaboration of a cross-functional team, leveraging market/industry insights to make strategic recommendations
• Develop negotiation strategy and lead negotiations to maximize total value and minimize risk
• Achieve cost savings and customer satisfaction targets
• RFx/Contract management
• Lead and execute on commodity/category/supplier strategy to deliver maximum value
• Understand business partner’s objectives and business drivers and integrate into the commodity/category/supplier strategy with input from key stakeholders

Stakeholder / Supplier Relationship Management & Integration:

• Build and maintain value-measured relationships with key stakeholders to drive sustained results while ensuring strategies remain in alignment with business goals
• Conduct regular business reviews with key suppliers to ensure compliance with contract deliverables

Market Research & Analysis

• Provide full and accurate category “market intelligence” by leading and performing in-depth analysis, understanding market drivers, and cost structures across the category level
• Maintain industry and market awareness trends through research and networking
• Create commodity or supplier specific sourcing strategies to optimize the supply base, diversity spending and total cost of ownership

Education, Licensure, Year of Experience (and type of work experience):

• Bachelor’s Degree and typically 10 plus years of relevant experience
• MBA or advanced degree in related discipline preferred
• Strong leadership, management, planning, organizational, analytical, and continuous improvement skills
• Management and supervisory skills including team building, influencing, motivating, developing, and managing onsite and offsite staff
• Provide oversight, coaching and mentoring to other sourcing managers within the organization
• Interaction with Executive Committee members of the company
• Experience influencing cross-functional leaders in a large organization, some of whom may have different priorities and goals
• Proven ability to produce results that impact a broad portfolio of spend or change across the organization
• Ownership of delegated authority from sourcing leadership team for decision making and/or strategic planning
• Experience managing a budget, workload, headcount, and team
• Strong business acumen, ability to provide strategic vision, tactical planning, sound judgment, prudent recommendations, balance risks, solve complex issues, overcome obstacles and challenging circumstances, results oriented, negotiate win-win, and produce positive decisions and outcomes

The typical base pay range for this role is between $126K - $161K depending on job-related knowledge, skills, experience, and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays. For more information on our Total Rewards package, please click the link below.