Bank of Hope

Strategic Sourcing Manager

Bank of Hope • $195K — $215K *
Los Angeles, CA 90011In-Person
Business Services
8 - 10 years of experience
2 months ago
Job Overview by Ladders

Qualifications

  • Bachelor's degree or 8 years relevant work experience required.
  • A minimum of 8 years in procurement or strategic sourcing roles.
  • Proven expertise in category assessment and strategy development.
  • Strong ability to influence stakeholders through data-driven recommendations.
  • Experience ensuring compliance with policies and managing audits.
  • Proficient in presenting insights and updates to senior management.
  • Established skills in planning, resource management, and execution.
  • Knowledge of the RFx process and excellent communication skills.

Responsibilities

  • Lead cross-functional teams to create and implement sourcing strategies.
  • Develop and maintain policies for Strategic Sourcing Governance.
  • Streamline the process for managing purchase requests from initiation to delivery.
  • Prepare RFQs and RFPs for enterprise-wide procurement activities.
  • Report project expenditures and budget caps to senior leadership.
  • Maintain vendor relationships to ensure compliance with contractual obligations.
  • Prepare and manage purchase orders and contract documents.
  • Alert risk management of changes in vendor engagements that may require review.

Benefits

  • Comprehensive benefits package included with the position.
  • Bonus opportunities based on performance metrics.
Full Job Description
  • Lead cross functional teams to implement sourcing strategies, including timing and development of tools.
  • Responsible for Policy and Procedure development and maintenance of Strategic Sourcing Governance as a second line function within Vendor Risk Management.
  • Develop and improve process to manage purchase requests, from request to delivery.
  • Prepares bid specifications Requests for Quote or Requests for Proposal (RFQ/RFP) related to the purchase of goods and services for the enterprise; IT Hardware/Software, business process outsource, professional services related to bank products.
  • Reports projects spend to the SVP of TPRM with alerts regarding budget caps.
  • Interviews and corresponds with vendors to ensure ongoing relationships are well maintained and contractual obligations are being met.
  • Prepares purchase orders, change orders and other contract documents with the support of the Contracts Manager, ensuring all BU priorities are properly addressed.
  • Alerts the Vendor Risk Administrator of any engagement changes, which may require additional risk review.
  • Supports the management of multiple vendors to ensure all products, services and hardware purchases meet the goals of the internal client, (speed of delivery, quality of product/service and cost effectiveness).
  • Acts as Subject Matter Expert on procurement activities and strategic sourcing.


Job Qualifications/Requirements

Education/Credentials

  • Minimum Education Level: Bachelors and/or 8 years work experience
  • Minimum Job Experience: 8 years


Skills

  • Deep and demonstrated knowledge in category assessment, strategy development and implementation.
  • Ability to influence others through fact based, data driven recommendations.
  • Experience with managing compliance with Policies and Procedures and as well as significant experience working with Internal, External audit teams.
  • Ability to work cross-functionally with stakeholders and leadership.
  • Experience in presenting to senior management necessary.
  • Strong plan development, resource management and execution skills.
  • Ability to work through others to ensure execution of day-to-day tasks.
  • Ability to assume responsibility and ownership for successfully completing assignments and tasks.
  • Deep and demonstrated knowledge of the RFx process (RFI, RFQ, RFP) with strong written and verbal skills.


The salary range for this full-time position is $195,000.00 - $215,000.00 + bonus + benefits

Salary ranges are determined based on qualifications, level, and location.

Exact compensation may vary based on your skills and experience.

About Bank of Hope

Bank of Hope is a commercial bank headquartered in Los Angeles, California. It was founded in 1976 as BBCN Bank and changed its name to Bank of Hope in 2017. The bank provides a wide range of financial products and services to individuals, small businesses, and commercial clients, including deposit accounts, loans, credit cards, and wealth management services. Bank of Hope operates more than 50 branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia, and Alabama. The bank is committed to serving the needs of the Korean-American community and other diverse communities, and has been recognized for its efforts to promote diversity and inclusion in the workplace.
Learn more about Bank of Hope
Size
1,300 employees
Industry
Finance & Insurance
* Ladders Estimates

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