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Lead and direct the Corporate Sourcing Service and Delivery unit providing best-in-class technologies and processes in support of the procurement and contracts management process. Develop a team that is able to provide innovative and strategic sourcing strategies for indirect materials, travel and corporate meetings and events. Lead the vendor due diligence, risk assessment, management and supplier quality management process.
DIMENSIONS
Supplier-based spend of $xxx. Contract signing authority up to $xx million. Responsibility for the drafting, negotiation and execution of xxx agreements per year with an average term of 3 years.
COMPANY STRATEGIC ELEMENTS/OBJECTIVES:
Responsibilities associated with this expenditure spend categories include:
- Work with senior corporate and line of business management in making and executing decisions involving sourcing of goods and services to single or preferred suppliers, and act as the primary point of contact with senior management of supplier base spend.
- Develop strategic alliances among suppliers and business units, maximizing banking relationships and revenues from suppliers. Keep abreast of best practices and take steps to ensure that Company is implementing such practices where appropriate and develop guidelines, policies and standards for the procurement of goods and services within supplier-based expense responsibility.
- Possess in-depth knowledge of related business industries and a solid understanding of supplier and industry economics. Develop industry expertise in areas of expenditure responsibility and act as the point of contact with functional support units in determining current and future needs, providing advice and support regarding the best method for fulfilling those needs, and to monitoring the ongoing effectiveness of those methods.
- Support efforts in continuous improvement sourcing approach and identify and execute performance improvement initiatives aimed at achieving year-on-year reductions in Company’s procurement efficiency ratio. Develop/drive sourcing strategies for each of the items or services within a spend category through vendor negotiations, process improvements, and compliance.
- Evaluate and rate suppliers, ensuring integrity of the request for proposal process.
- Conduct negotiations and oversee administration of contracts within assigned spend categories ensuring appropriate contractual clauses are in place to minimize Company’s risk.
- Monitor and manage contract renewal and expiration to ensure sufficient time for renegotiation, termination and conversion to new supplier as desired by the business unit.
- Interface with principle owners/users within the pertinent Functional Authority or Line of Business and pull in additional staff support when needed, assuming the role of Functional Authority in those areas that cross Company with no natural line of business owner.
- Ensuring the success of Company’s minority and women owned business enterprise (MWBE)/Supplier Diversity program aspirations acting as the primary liaison between Community Development Banking (CDB) and Corporate Sourcing to develop tactics for Sourcing Strategists to increase MWBE spend within all categories of spend.
- Create and manage internal and external benchmarking process.
- Develop scorecard and performance measures that effectively evaluate sourcing strategy success and track against Company performance indicators of the Corporate Sourcing unit.
- Coordinate vendor relations and supplier quality assurance; tactical report cards, with line of business functional authorities, developing and driving the vendor due diligence, risk assessment, mitigation and supplier quality management process across the company.
- Assist asset management function by providing knowledge of lifecycles of products to maximize residual values in the market place.
- Develop strategies and processes to integrate corporate risk, revenue and expense control initiatives into procurement process
- Lead, direct, develop and evaluate Corporate Sourcing staff .
- Provide primary support to Corporate Sourcing for communications, driving behavioral changes and awareness throughout Company regarding procurement procedures, including management of the Corporate Sourcing presence on Company’s intranet and implementation of new and emerging Sourcing tools (e.g., eRFX, eSourcing and reverse auctions).
- Function as Company’s Authorized Signer in contract execution commitment process ensuring the appropriate stakeholders and level of senior executive involvement in the decision making process (e.g., information technology, privacy, risk management, etc.).
MARGINAL FUNCTIONS
General administrative duties. Other duties as assigned, including but not limited to:
- Conduct vendor and user workshops. Develop service level agreements with internal customers.
- Assist business units in the preparation of business case support for major initiatives.
- Implement changes resulting from changes in sourcing strategies successfully.
- Drive continuous improvement throughout the procure-to-pay process including automation of ordering, invoices and remittance.
- Support internal and external audit of vendor relationships
- Develop and lead the sourcing rotation of interns and finance analysts providing challenging and rewarding assignments that assist in furthering sourcing’s objectives.
REQUIRED SKILLS
BA in business or other quantitative field. MBA preferred. 6-10 years of experience in supply chain or equivalent industry-specific experience in spend responsibility. 5-7 years of management experience with proven ability to coach and develop teams, motivate top performance, set stretch objectives and evaluate performance against stated goals. Strong interpersonal skills with ability to relate well to all kinds of people up, down, and sideways, inside and outside the organization. Builds relationships; able to diffuse high-tension situations comfortably. Demonstrated managerial courage; lets people know where they stand; faces up to people problems on any person or situation quickly and directly and is not afraid to take negative action when necessary. Highly motivated self-starter. Drives for results. Deals well with ambiguity. Outstanding quantitative skills. Thinks strategically. Innovative. Strong negotiating skills. Excellent oral and written communication skills.
CUSTOMERS AND THEIR EXPECTATIONS
Strategically aligned with business unit critical priorities, providing counsel and guidance in the procure to pay process, including ensuring appropriate stakeholders are involved in the decision-making process. Able to respond quickly to shifting needs and market conditions. Proactive recommendations of savings opportunities and risk mitigation strategies.
MAJOR CHALLENGES OF THE JOB
Fast-paced, diverse workflow from internal clients with a broad range of subject matter and process expertise. Highly regulated industry.
DESIRED TECHNICAL/MANAGERIAL CAPABILITIES
Visionary. Develops oneself. Shows work commitment. Possess a high stress tolerance. Change agent. Demonstrates the ability to recognize, recruit and develop top talent. Organizational agility; knows how to get things done.
REPORTING RELATIONSHIP
Reporting to Chief Sourcing Officer.
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