Procurement Sourcing Manager

Regions Financial   •  

Hoover, AL

Industry: Accounting, Finance & Insurance


5 - 7 years

Posted 39 days ago

Job Description:

At Regions, the Procurement Strategic Sourcing Consultant provides day-to-day management and execution of Sourcing initiatives within a cross functional team. With minimal guidance, this position will generally have responsibility for leading certain expense reduction efforts and associated vendor related engagements and negotiations for certain business units or strategic categories to effectively support the delivery of business outcomes. Associates in this role interact daily with senior and executive level associates within business units to accomplish objectives. Contract negotiation skills, excellent verbal communication, and problem-solving skills are key for success in this role.

Primary Responsibilities

  • Negotiates contracts with service providers that deliver effective business outcomes to include negotiations of SLA’s, terms, risk components, and fee structure
  • Directs and oversees negotiations with good interpersonal and communication skills, to deliver a desired result
  • Communicates clearly and effectively within a working team to foster collaboration
  • Utilizes strategic sourcing approach to determine and prepare request for proposals (RFP)/competitive bid requirements, solicit responses, analyze responses, prepare recommendation and negotiate contracts to enhance efficiencies and reduce costs
  • Executes the bank’s competitive bidding process and lead strategic sourcing activities for assigned areas
  • Develops cross-functional teams, business objectives, identify bidding suppliers, set up the RFP in the bank’s P2P system, execute the RFP / competitive bid with suppliers, negotiate contracts and work 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
  • Complete and execute RFPs and/or contracts that meet the company’s legal and business requirements
  • 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.


  • Bachelor’s degree in Business, Supply Chain/ Industrial Engineering, or a related field AND five (5) years of procurement or related experience
  • OR high school diploma with nine (9) years of supply chain/ industrial engineering, or procurement experience


  • Professional certification in Supply Chain, Procurement or related field
  • MBA/Master’s degree in related field

Skills and Competencies

  • Strong business acumen with ability to understand key business issues, environment surrounding acquisitions and the organizations strategic direction
  • Ability to lead associates to desired outcomes through influence and gaining buy-in
  • Strong planning, analytical, and problem-solving skills, with the ability to make good judgements and make quick decisions
  • Project management skills – ability to manage multiple RFPs, business relationships and initiatives in parallel
  • Ability to develop executive level relationships and credibility with assigned business units
  • Excellent communication skills with the ability to present ideas effectively both orally and written
  • Skilled in establishing and maintaining working relationships with internal clients, vendors and associates and flexible approach to meeting business needs depending on circumstances
  • Demonstrated ability to execute RFPs and/or competitive bids
  • Demonstrated contract negotiation skills
  • Demonstrated ability to negotiate with suppliers and internal customers to maximize value, ensure standardization, successfully resolve disputes, and drive optimal outcomes