Senior Strategic Sourcing Manager

STRATEGIC SOURCING MANAGER SENIORWHAT IS THE OPPORTUNITY?

City National Bank is looking for a Strategic Sourcing Manager to join their centralized Procurement department supporting all business lines and offices in North America. This role will be responsible for leading complex negotiations and drafting contracts for commodities and services to be purchased by the bank. Interface with executive level management and make recommendations. Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them.

Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions. Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities. Contributes to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary. Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions.

Train and mentor other Procurement team members.

WHAT WILL YOU DO?

Knowledgeable of the Strategic Sourcing process, drafting of contracts, financial reviews and procurement practices

Lead negotiations and contract drafting for commodity/service to be purchased by the bank. Work with Legal, compliance, finance, the business and other department to minimize risk and obtain the favorable terms for the bank.

Proactively identifies and recommends category sourcing options and partners with stakeholders to implement them.

Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions.

Analyze business plans, spend data, supplier and market data, to determine optimal sourcing strategies across businesses and assigned suppliers and/or commodities.

Contributes y to the achievement of defined category performance targets and participates in or leads competitive RFPs as necessary.

Determine and recommend alternate supply strategies to create cost savings and/or supply support solutions.

Research and stay current on industry practices for product and services within the assigned category(s).Assist colleagues with interpreting contracts.

Lead RFx activity.

Builds and fosters relationships and effectively partners across varied functions with internal stakeholders, external suppliers, and colleagues to influence change,Manage assigned projects and communicate with the stakeholders.

Ensures compliance with Company policies, procedures, standards, use of Procurement systems in alignment with the stakeholder’s objectives.

Prepare reports for management as requested.

Manages supplier involvement and relationship with the Company.

Manage Supplier audit activities.

Governance of vendor sourcing agreements

Manage/mitigate vendor risk, business continuity and security

Acts as liaison with vendors to ensure organizational needs are met.

Prepare and present strategic sourcing strategies for assigned suppliers and/or commodities to senior management.

Develop / maintain market and technical expertise in assigned buy  recognized as subject matter experts (SME) of their commodity(s)
Evaluate existing processes and provide process improvement recommendations in line with best practices and practical experience.

Facilitate activities around supplier audits.

Mine spend data to identify cost savings opportunities.

Recommend to leadership supplier/vendor strategies for existing suppliers and alternatives.

Trains and mentors other Procurement team members.

Empowers others to achieve results through motivation, recognition and performance feedback.

Participates with management in development of procurement strategies and plans.

Strong analytical, critical thinking, negotiation and presentation skills.

Must be able to work at strategic level and if requested tactical (hands-on).Strong analytical, critical thinking, negotiation and presentation skills,Perform other duties as required.

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications
* Bachelor's Degree or equivalent

Minimum 7 years Procurement experience required

Minimum 5 years of experience working for a bank or financial services company required

Additional Qualifications Must have knowledge of negotiation principles & practices, and procurement practices.

Ideal candidate is continuously learning and stays current on industry practices for product and services within the assigned category(s).Must have skill in Negotiation & Drafting Acts…