Job Description

Responsible for overseeing assigned category of procurement such as: sourcing and supplying materials, utilities and outside services; timely, cost-effective procurement, inventory control; planning and quality control of materials; or purchasing operations. Administers policies, procedures, and control systems to reduce costs, streamline procedures, and implement solutions.

Essential Job Functions

Identifies and implements solutions to drive incremental cost reductions and cost-avoidance opportunities for assigned category through category knowledge that researches and understands leading industry trends at country, regional or global level
Identifies strategy and driving improvements to lower the total cost for services
Interacts with, acts as a liaison, and supports multiple businesses, internal and external Stakeholders, functions and Suppliers
Works to ensure team cost savings (reduction, and avoidance) goals are achieved or exceeded and ensures business control compliance
Ensures that procurement business practices are maintained within bank policies and regulatory requirements & guidance
Works to ensure team cost savings (reduction, and avoidance) goals are achieved or exceeded and ensures business control compliance
Supports and reinforces and escalates, as necessary, issues related to Sourcing Policies
Supports requests for information from Bank control functions, Auditors and Regulators

Other Job Duties

Performs other duties as assigned.

Required Experience

Requires advanced knowledge of job area typically obtained through advanced education combined with experience.
Evidenced experience with drafting and negotiating time and materials and fixed fee statements of work, license orders, and master agreement terms
Requires experience supporting internal customers to ensure that their needs are met, whilst protecting the company's interests
Requires experience in contract risk avoidance and experience coming to balanced risk between vendor and company
Requires 5 years minimum prior relevant experience.

Education

Bachelor's Degree accounting, business administration or related area or equivalent combination of education and experience

Skills

Knowledge or experience with various stages of procurement practices
Knowledge of contract law and contract processing
Ability to negotiate complex contracts
Ability to communicate effectively
Negotiation skills
PC skills, including knowledge of Excel and database development
Strong project management skills
Ability to work with others, in a team
Basic research and analytics
Ability to develop and execute basic negotiating strategies

Sourcing

Assists Sourcing Lead in reviewing, coordinating and processing complex purchase requests, including requests for quotes, bids, proposals and complex buy-direct programs for the bank
Supports ongoing facilitation of sourcing requests
Assists in all aspects of procurement solicitations (RFPs) for the bank
Collates bids and proposals to assist the procurement manager in RFP evaluation
Manages the RFP time line and templates
Conducts supplier research to address supplier spend, fit for engagements, strategy development, etc.
Assist or supports manager with complex contracts and proposal negotiations
Maintains communication with supporting procurement roles, i.e. front office, middle office, TPRM, etc.

Contract Management

Under minimal supervision, responsible for reviewing and coordinating low to medium complexity contract requests, including statements of work, order forms/ documents, master agreements, non-disclosure agreements, terminations and other agreement documents, as assigned
Negotiates cost savings with vendors on transactional engagements
Provides feedback and recommendations relative to process and procedural documents
Review's, negotiates and drafts low risk contracts for products and services, NDA's, Terminations and other agreements as assigned
Provides administrative oversight during contract negotiations

Purchasing Operations

Reviews, coordinates and processes complex purchase requests, including requests for quotes, bids, proposals and complex buy-direct programs for the bank
Negotiates basic contractual terms in alignment with Bank standards and documents gaps for approval presentation
Manages purchasing catalogs
May conduct first line of defense vendor management activities for categories managed by Strategic Sourcing, as defined by the Corporate Third Party Risk Management Program
Prepares all aspects of procurement solicitations (RFxs) for the bank
Works with Bank stakeholders to refine requirements
Evaluates bids and proposals and makes recommendations to stakeholders
Liaises, as necessary, with bank departments to adequately aggregate and incorporate bank requirements into applicable purchasing efforts
Assists manager with complex contracts and proposal negotiations
May manage Sourcing-owned spend categories and Sourcing-owned Third Party Providers in accordance with the Third Party Risk Management program
May engage Third Party Providers to evaluate products and service capabilities and make comparative analyses on Third Party Providers' ability to meet or exceed Sourcing's business and/or technical requirements