Sourcing Manager I : 1200002286 Job Details

• Develops and leverages specific category expertise to analyze industry and market trends, to proactively identify opportunities to drive expense reduction, risk mitigation and optimal value for business partners
• Develops a sourcing work plan in conjunction with business partners outlining contract work to be completed including forecasted savings.
• Partners with the LOB/GCF to create/reassess a purchasing/sourcing strategy for new/existing or changed products and services, inclusive of business performance, risk and compliance management
• Performs due diligence review with potential vendors according to the strategy and standards
• Develops and executes competitive due diligence to ensure optimal pricing and value (Execute RFx (I, P, Q) process (process doc., RFP docs, communication docs)
• Partners with the LOB/GCF to create a negotiation strategy and is responsible for leading contract negotiation process
• Assesses deal-level risk using risk assessment tool and negotiates contract terms, including performance and risk metrics
• Obtains necessary approvals to execute the contract
• Facilitates the renewal of relationships with suppliers using a consistent approach
• Executes the renewal or termination of vendor contracts
• Partners with Supplier Management and the LOB/GCF to remediate contractual issues with vendors over the lifecycle of the relationship
• Executes governance routines as required by the Vendor Management policy and Standard Operating Requirements

Qualifications

Required Skills:

• Proficient in understanding legal aspects of contract law including definition of a contract, formation of a contract, offer & acceptance, consideration; legal remedies for breach of contract, knowledge of contractual terms - express & Implied terms, representations, conditions, and warranties.
• Strong ability to profile and define a category of spend, complete a total cost of ownership analysis, analyze industry and market trends and to proactively identify opportunities to drive expense reduction, risk mitigation and optimal value for business partners.
• Strong ability to gather & evaluate information required to support sourcing activities, demonstrate critical thinking skills by applying rationale to decision making.
• Proven experience and capability developing & implementing a sourcing and commodity strategy.
• Deep understanding of the various types of sourcing events (RFI, RFP, eAuction, etc) and appropriate use, ability to create sourcing event content including business requirements and specifications and develop scorecards to assist with supplier selection.
• Strong negotiation skills needed to develop agreements diplomatically and comes to terms that are agreeable to all parties; skillfully using argument and persuasion to reach a favorable position without causing hostility or conflict.
• Deep focus on business partners, customers and clients, acts as a champion for the business partner/customer/client, ensuring decisions and actions help them achieve their goals.
• Proven ability to manage risk while ensuring optimal value and outcomes are achieved.
• Communicates with impact and influences decisions and outcomes through effective communications.
• Understands the company's overall strategy, how the LOB/GCF operates/generates revenue/manages risk and is competitively positioned in the marketplace.
• BS/BA degree or equivalent experience. MS Office proficiency, oral and written communication skills, strong analytical skills, demonstrated career path of increasing responsibility. Ability to multi-task and work in a heavily matrixed environment and build LOB partnerships.