Senior Sourcing Manager

Key Responsibilities

Category Strategy Execution

• Support continuous improvement of Category Strategy, adjusting to shifts in business objectives, changes in vendor capabilities and dynamic market / macro-economic conditions.
• Develop subject matter expertise of Corporate operations / business units and the suppliers contributing to the value chain. This includes an in-depth knowledge of existing operating model & processes, functional performance metrics and supplier service levels, and enabling technologies.
• Help to define the total cost of operations, identifying potential synergies across processes and suppliers, and mitigating potential performance and compliance risks.
• Execute category strategy tenets to maximize the value from suppliers’ goods and services, prevent leakage through adherence to contract and commercial terms, mitigate risks associated with supplier relationship, and actively manage / track cost savings.
• Develop financial business cases for strategic sourcing opportunities.
• Partner with existing and new suppliers to develop innovative solutions to solve business problems facing Corporate teams.
• Lead sourcing projects and supplier negotiations.
• Provide expertise to support all activities related to the Contract Lifecycle Management (negotiation tactics, insights regarding contractual/Legal matters of significance to the organization etc.).
• Develop and negotiate innovative contract terms and commercial structures that protect the interests of internal stakeholders while incentivizing the supplier performance.

Supplier Governance

• Help lead and execute supplier governance inclusive of:
  • Contract Management – adherence to terms and conditions, processing renewals, addition of new services, change requests
  • Financial Management – budget planning and forecasting, invoice reconciliation and payment management, reward / penalty calculation and enforcement
  • Performance Management – service level agreement monitoring & adherence, manage performance corrective action plans
  • Relationship Management – escalation / issue resolution, leverage supplier’s full set of capabilities / offerings to expand relationship
• Serve as supplier specific subject matter expert pertaining to supplier contract terms, commercial structures and performance expectations.
• Maintain knowledge of industry & regulatory trends and apply learnings / best-practices to supplier product management and service delivery.

Stakeholder/Relationship Management

• Effectively operate in complex, matrixed organization where partnership and collaboration with multiple stakeholders is required to ensure transparent flow of information, manage expectations around process capabilities / limitations, and to achieve desired outcomes.
• Establish relationships / partnerships with internal customers to ensure utilization of Procurement Services for all sourcing needs and supplier governance support.
• Orchestrate and facilitate governance meetings between internal stakeholders and suppliers to create meaningful and valuable engagement on both sides.
• Build and maintain excellent relationships with internal clients and colleagues at all levels.
• Mentor and coach internal stakeholders and suppliers on governance processes and risk management.

Other Responsibilities

• Partner with on-/off-shore resources from Procurement Managed Service Provider for various sourcing related activities (benchmarking, RFx, contracting, etc.).
• Utilize off-shore business and process analysis resources to performance various supplier governance related activities.
• Responsible for developing solutions to help meet operational budget targets.
• Forecasting supplier spend and tracking / validation of planned savings.
• Support reconciliation, validation against commercial terms, and ultimate payment of supplier invoices for goods and services delivered.
• Tracking of cost savings achieved through sourcing and operational efficiencies.

Qualification & Requirements

Basic Qualifications:

Education

• Minimum Bachelor’s degree from an accredited institution

Professional Experience:

• 5 years relevant experience in (a) sourcing / procurement/ vendor management at large multinational companies or (b) shared services and outsourcing advisory or operational consulting
• Financial acumen with 3 or more years of experience in roles developing business cases for sourcing programs and/or outsourcing services (client or provider)
• Hands-on experience in negotiating complex contracts

Knowledge And Skills

• Proven track record in outsourcing benchmarking, market analyses and contract negotiations
• Master knowledge of industry standard / best-in-class contract terms and conditions (T&C), especially around information securing and risk management
• Advanced problem solving and critical thinking skills in a team environment
• Excellent interpersonal, facilitation, communication and influencing skills especially with senior level executives
• Demonstrated ability to function in a team environment and highly matrixed, global environment
• Strong financial acumen; ability to understand outsourcing impact to P&L, ability to develop complex business cases & continually assess/determine total cost of ownership at both a functional level and supplier level
• Strong Excel modeling skills and PowerPoint presentation skills
• Evidence of successful management of large programs and projects

Preferred Qualifications:

Education:

• Bachelor’s degree in business, finance, economics, industrial engineering, supply chain or equivalent
• MBA/MS degree preferred

Knowledge And Skills

• Proven ability to multi-task
• Strong oral, written, and organizational skills
• Independent thinking, good judgment and creative problem-solving skills
• Strong business planning skills
• Strong knowledge of project management

Previous Experience

• Sourcing of 3rd party labor and IT services
• Management consulting experience or sourcing / procurement experience at large multinational firms
• Experience in process transformation, cost reduction and global delivery model strategy highly desirable

Industry Experience:

Strong background in working on enterprise wide projects for large complex organizations, preferably in financial services or insurance industry.

Certifications

• Outsourcing governance and strategy from leading industry associations e.g. IAOP, HFS, etc.
• Certifications in Project management desirable

Benefits

• Health insurance
• Retirement plan
• Dental insurance
• Paid time off
• Stock purchase plan
• Disability insurance
• Tuition reimbursement
• Life insurance
• Work from home
• Vision insurance
• Flexible schedule