Our continued success is driven by a high-performance culture. We’re looking for people who are collaborative, accountable, creative, agile and are driven by a passion for doing what’s right – across the company and in our local communities.
We offer a caring culture where you can make a real difference, every day.
Ready to reach your highest potential? Let’s work together.
The primary focus of this role is to own, build, and run strategic procurement initiatives as well as IT & Professional Services sourcing projects. This role requires the ability to engage, influence and manage multiple executive-level stakeholders, to drive sourcing plans and execution of those plans to satisfy the demanding needs of our high growth Financial Services industry. Responsible for developing highly complex Sourcing Strategies and clear action plans to drive the lowest total cost of ownership as we meet and exceed our customer demand.
This role will lead engagements across internal Business organizations while diving deep into the technologies and operations both from a product and Supply Chain perspective. This position will also analyze trends involving the industry players – third party providers, customers, and technology to develop strategies to reduce cost, minimize risk, protect continuity of supply, and exploit emerging opportunities allowing Standard Insurance to meet and exceed its goals.
Principal Duties & Responsibilities:
This role will flex-up and flex-down, across the three primary functions outlined below (strategic sourcing, strategic supplier relationship management, and procurement optimization), based on customer demand and volume. Approximate % of time spent on each activity, outlined below, is subject to change, based on demand.
- Strategic Sourcing Manager: Work effectively with executives, capturing business needs and requirements needed to create and execute sourcing strategies. Partner with cross-functional teams to define negotiation strategies that meet business objectives and priorities
- Key Functions: Ensure creation of robust negotiation strategies and cost targets through understanding of market dynamics, benchmarks and cost trends. Create forward looking cost projections and measure performance to actuals.
- Use data to present negotiation strategy, recommended negotiation positions and successfully negotiate with Third Party Providers to achieve desired positions.
- Build, communicate and execute on sourcing project plan and timeline; identify supporting efforts, dependencies or barriers. Identify and track any sourcing issues, track and report progress.
- Work independently to balance multiple tasks and competing priorities simultaneously
- Effectively lead cross-organizational meetings to lead teams to consensus and/or decisions to maintain project schedules
- Exhibit sound judgment in terms of balancing cost and risk
- Ability to effectively communicate with and present to all levels of Third-Party Providers and Standard Insurance management.
- Functional owner of the strategic sourcing process; inclusive of developing a review process to ensure that all related process documents and templates are reviewed and updated on a regular basis
- Strategic Supplier Relationship Manager: Implement and manage the contract and relationships with strategic suppliers. The emphasis will be on quality, performance, cost containment, and customer service. Responsible for managing supplier performance against contract. This position is responsible for measuring and managing the supplier’s Key Performance Indicators (KPI’s) and Service Level Agreements (SLAs) on a regular and ongoing basis. The position is responsible for ensuring all contractual obligations of the supplier are being successfully achieved.
- Key Functions:
- Facilitate support of contract delivery and governance for strategic suppliers
- Build and manage relationships with one strategic supplier
- Work to ensure that suppliers meet or exceed their contractual obligations by delivering quality products and services on time
- Ensure performance to the contract through consistent and transparent compliance monitoring and performance management against stated goals and measurements
- Own the quarterly business review process between Standard’s executives and the supplier’s executive team
- Facilitate issue resolution between suppliers and the business unit(s)
- Procurement Initiatives: Lead activities to optimize procedural processes and systems supporting supply management as appropriate. Develop and implement procurement quality control practices. Lead process improvement initiatives that provide for cheaper, better and faster procurement capabilities.
- Key Functions:
- Review current state procurement processes, identify and implement strategies to increase process optimization
- Implement new procurement processes in support of organizational transformational efforts and strategies
- Identify opportunities and initiate and/or lead projects focused on procurement optimization
- Bachelor's degree in Business or related field.
- 5-7 years of progressively responsible experience in supply management, or the equivalent combination of education and/or relevant experience.
- Advanced knowledge of: Strategic sourcing methods and procedures, products, support systems and marketplace conditions.
- Negotiate complex sourcing initiatives, with the ability to drive significant cost reductions through negotiations and process improvements
- Demonstrated ability to analyze and interpret spend and cost data, research market trends, identify best practices, and manage supporting contract development activities
- Strong analytical skills and the ability to derive 2nd level insights from unstructured data
- Ability to influence at an Executive Level both internally and externally. Ability to lead and influence peer groups both internally and externally.
- Strong experience with MS Office Suite, Business Intelligence (BI) Tools, charting programs and others
- Ability to structure bids, evaluate bids against a broad set of evaluation criteria and provide recommendations for third party provider selection.
- Vendor risk management experience.
- Knowledge of contracting trends, licensing models, and traditional and emerging contract and vendor performance models; expert negotiation tactics and strategies; proven track record of negotiations that result in cost savings and risk avoidance.
- Ability to deliver c-suite presentations
- Expert project and program management skills; plan, schedule, implement and manage multiple projects simultaneously.
- Analyze problems and evaluate solutions at both strategic and tactical levels.
- Act independently and make decisions; makes decisions in the absence of specific direction.
- Work effectively in collaboration with peers and team members; resolve conflicts; & builds relationships.
- Develop short and long-range plans to meet operational and strategic objectives.
- Consistently deliver on high quality customer service expectations.
Professional certification preferred: