Procurement Sourcing Category Strategist

Job Description At Regions, the Procurement Sourcing Category Strategist provides day-to-day management of larger, more complex sourcing initiatives within a cross functional team. This position will generally have responsibility for leading certain expense reduction efforts and associated vendor related engagements for certain business units or strategic categories to effectively support the delivery and of business outcomes and demonstrate competencies to have responsibility for larger vendor engagements or more complex projects. Associates in this role interact daily with senior and executive level associates within business units to accomplish objectives. Primary Responsibilities Utilizes strategic sourcing approach to determine and prepare request for proposals (RFP)/competitive bid requirements, solicits responses, analyzes responses, prepares recommendation and negotiates contracts to enhance efficiencies and reduce costs Utilizes the ability to execute the bank’s competitive bidding process and leads strategic sourcing activities for assigned areas Utilizes the ability to develop cross-functional teams and business objectives; identifies bidding suppliers, sets up the RFP in the bank’s P2P system, executes the RFP/competitive bid with suppliers, and works with business stakeholders to develop recommendations Partners with key stakeholders and senior leaders in proactively identifying expense reduction opportunities as it relates to suppliers Analyzes market industry conditions and develops plans to procure goods not related to information technology vendors Communicates corporate procurement standards to vendors and business partners Completes and executes RFPs and/or contracts that meet the company’s business and legal requirements Offers advice and guidance to junior consultants, assisting in the development of necessary skills and the promotion of continuous improvement initiatives May serve as team lead or supervise entry level procurement consultants May partner with Procurement Strategic Sourcing Technology Consultant on projects This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay. This position is incentive eligible. Requirements Bachelor’s degree in Business, Supply Chain/Engineering, Procurement, or related field and seven (7) years of experience in procurement or related field Or High School Diploma or GED and eleven (11) years of experience in procurement or related field Preferences Professional certification in Supply Chain, Procurement, or related field Master of Business Administration (MBA) or related degree Skills and Competencies Ability to lead associates to desired outcomes through influence and buy-in Ability to learn additional systems as needed Ability to research, analyze data, and derive facts Ability to work in a team environment when applicable Ability to work under pressure and meet deadlines Demonstrated ability to execute RFPs and/or competitive bids Demonstrated ability to negotiate with suppliers and internal customers to maximize value, ensure standardization, successfully resolve disputes, and drive optimal outcomes Demonstrated negotiation skills Developed relationship-building skills Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.) Strong verbal, written communication, and organizational skills Strong work ethic and self-motivation Preferred Procurement Experience Corporate / Consumer Banking, Wealth Management, Treasury Management, Enterprise Payments, Wealth Management. Compensation Details Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job. Job Range Target: Minimum: $104,869.60 USD Median: $143,010.00 USD Incentive Pay Plans: This role is eligible to participate in the annual discretionary incentive plan. Employees are eligible to receive a discretionary award based on individual, business, and/or company performance. Opportunity to participate in the Long Term Incentive Plan. Benefits Information Paid Vacation/Sick Time 401K with Company Match Medical, Dental and Vision Benefits Disability Benefits Health Savings Account Flexible Spending Account Life Insurance Parental Leave Employee Assistance Program Associate Volunteer Program To learn more about Regions’ benefits, please use the following link: Location Details Regions Center Location Birmingham, Alabama Equal Opportunity Employer/including Disabled/Veterans #J-18808-Ljbffr Regions Bank