Job DescriptionThe Senior Sourcing Lead will report to the Senior Sourcing Team Manager in Strategic Sourcing within Procurement. The Lead will drive cost savings initiatives for the assigned commodity and consider the total cost of ownership across the Bank.
The successful candidate will partner with business owners to identify market and economic trend opportunities and execute against them to continually improve the value derived from third party relationships. The primary focus is to align with the business lines in a way that generates a positive impact to them achieving their business goals, while optimizing value to the overall organization.
The Senior Sourcing Lead will be part of the Global Labor team, supporting subcategories related to Technology Labor, Management Consulting, Professional Services, HR Recruiting, and Temp Labor.
Primary responsibilities include- Develop commodity strategies to achieve cost savings and improve quality and service levels by identifying opportunities and sourcing strategies for strategic/complex negotiations.
- Oversee all spend activity for assigned commodity and determine proper action plan for all purchases that meet Procurement involve threshold.
- Lead cross-functional teams to execute sourcing initiatives including the competitive bidding process and contract negotiations.
- Ability to negotiate, including contract red lining for all types of corporate transactions using an Agile contracting framework.
- Provide Category Procurement subject matter expertise for the associated business/function.
- Effectively work with functional and business groups as a trusted advisor to determine desired product/service specifications and projected demand when making recommended action plans.
- Maintain close relations with the industry supply base and industry experts with the objective to develop innovative solutions to complex problems.
- Proactively identify improvement opportunities for assigned category areas and recommend key actions.
- Utilize analytical thinking and tools to identify new benefits generation; prioritize projects to ensure demonstrated impact to the business.
Required Qualifications- 4+ years of progressive experience in Contract negotiation, vendor management and strategic sourcing.
- Demonstrated experience leading complex negotiations and enterprise-wide sourcing initiatives.
- Strong commercial acumen and financial modeling capability.
- Advanced analytical skills with the ability to translate data into actionable insights.
- Experience working cross-functionally and driving consensus across stakeholders.
- Structured, organized, and methodical planning skills.
- Executive-level communication and presentation skills.
Preferred Qualifications- Experience in financial services or other regulated industries.
- Knowledge of third-party risk management frameworks and regulatory environments.
- Experience managing large, complex spend portfolios.
- MBA or professional certification (CPSM, CIPS, or similar).
Core Competencies- Strategic thinking and long-term planning
- Negotiation and influencing skills
- Financial and analytical rigor
- Risk-aware decision making
- Stakeholder management and executive presence
- Change leadership in matrixed environments
Hours & Work Schedule- 40 hours per week
- Monday - Friday
Pay Transparency The salary range for this position is $123,000- $161,000 per year, plus an opportunity to earn additional incentive earnings (if applicable). Actual pay is based on various factors including, but not limited to, the
budget, work location, and relevant skills and experience. No other portions of the posting are changing, including benefits language or incentive guidance (e.g., Teller roles should continue to remove incentive language as noted).
We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens' paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits .
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