JOB FUNCTION / SUMMARY:This role will lead the procurement team in strategic sourcing initiatives and supplier relationship management and will play a critical role in optimizing procurement processes, reducing costs, and ensuring the timely delivery of high-quality goods and services.
ESSENTIAL DUTIES & RESPONSIBILITIES:- Develop and implement category management strategies for key procurement categories, including but not limited to banking, IT, and professional services.
- Lead cross-functional teams to conduct market analysis, identify sourcing opportunities, and develop sourcing plans that align with business objectives and regulatory requirements.
- Manage the end-to-end sourcing process, including supplier identification, request for proposal (RFP) development, bid evaluation, negotiation, and contract award.
- Cultivate and maintain strategic relationships with suppliers, ensuring alignment with bank objectives, contractual compliance, and performance excellence.
- Collaborate with internal stakeholders to understand their procurement needs and requirements, providing guidance and support throughout the procurement lifecycle.
- Monitor supplier performance against key performance indicators (KPIs), identifying areas for improvement and implementing corrective actions as needed.
- Stay abreast of industry trends, regulatory changes, and best practices in procurement and sourcing, leveraging insights to enhance procurement strategies and processes.
- Develop and implement policies, procedures, and controls to ensure compliance with regulatory requirements and internal policies related to procurement and vendor management.
- Provide leadership and mentorship to procurement team members, fostering a culture of continuous improvement and professional development.
SUPERVISORY RESPONSIBILITIES:Responsible for the overall direction, coordination and evaluation of a team of associates, carries out supervisory responsibilities in accordance with the organization's policies and applicable laws; Responsibilities include interviewing, hiring, and training associates; planning, assigning, and directing work; appraising performance; rewarding associates and enforcing policy and procedure; addressing complaints and resolving problems.
MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE:- Bachelor's degree in business administration, finance, supply chain management, or a related field; Master's degree preferred.
- Minimum of 8 years of experience in procurement, strategic sourcing, or vendor management, including leading and managing people
- Strong understanding of procurement principles, practices, and regulations, particularly in the financial services industry.
- Proven track record of success in developing and executing category management strategies that drive cost savings and value creation.
- Excellent negotiation and contract management skills, with the ability to influence stakeholders and drive favorable outcomes.
- Strong analytical and problem-solving abilities, with the capacity to analyze data and make data-driven decisions.
- Excellent communication and interpersonal skills, with the ability to build effective relationships with internal and external stakeholders.
- Demonstrated leadership abilities, including the ability to lead cross-functional teams and drive results in a dynamic environment.
ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:- Ability to work under stress and meet deadlines
- Ability to lift/move/carry approximately 20 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.
