Category/ Sourcing Advisor

General Description

The Category and Sourcing Advisor is responsible for planning and executing the strategic activities that support the procurement of goods and services defined within categories. These activities include monitoring the market for new or updated capabilities; working closely with the bank’s businesses to understand their procurement needs and requirements; working with vendors to prepare and respond to the needs of the business stakeholders; preparing and executing competitive sourcing processes (RFx’s); evaluating vendor proposals and offerings according to businesses needs and negotiating and executing vendor contracts.  Manage the categories on an on-going basis post contract execution, identify vendor or category performance goals, and monitor vendor performance and improvement metrics.

Essential Duties and Responsibilities

•    Strategically partner with the businesses to assess current/future business needs.  Lead sourcing projects in a timely manner, producing optimum results through market research, analysis, and strategic negotiations. 
•    Proactively analyze market trends and conditions, recommend sustainable cost reduction initiatives, service enhancements and supplier management strategies.   
•    Develop and manage bids or proposals incorporating business requirements, commercial requirements, company policies and risk criteria. 
•    Responsible for conducting a rigorous vendor selection process in each sourcing event to ensure future vendor compliance, including contractual requirements and KPI’s.
•    Identify continuous improvement opportunities to improve the sourcing process and supplier onboarding process. 
•    Resident expert in contract negotiation & contract development. Analyze contractual clauses, work closely with legal counselors to propose alternatives, and create negotiable language for a wide variety of service agreements.
•    Manage projects related to new suppliers and their services, including handling complex implementation related issues with vendors as needed.
•    Continuously work with cross functional teams and support technical procurement processes as advisor, when required. Resident expert in sourcing policy, procedures & processes.
•    Committed to become a trusted advisor to stakeholders across business units, influencing them to follow cost reduction initiatives, procurement policies and processes. 
•    Understands category spending patterns, to be able to work on projections, develop long term models, and create value adding supplier relations. 
•    Collaborate with stakeholders to identify and develop plans to solve supplier relationship conflicts.

Supervisory Responsibilities:

This Job has no supervisory responsibilities but in special circumstances may lead the work of others.

Education

Bachelor’s degree in business administration, Communications, Marketing, Accounting, industrial Engineering, or related field.

Experience

• At least 3 years of experience negotiating with vendors, managing supplier relationships, executing sourcing or procurement activies, working in the banking industry, performing financial analysis and/ or managing 3rd party contracts.
• Experience in project management strongly desired.
• Proven experience conducting data analysis, quantitative supplier ratings, bids, and formal RFPs in a regulated industry. 
• Experience building sourcing strategies across multiple categories to capture cost reduction opportunities, and understanding market trends. 
• Proven experience negotiating contracts for facility management and construction service is preferred.

Knowledge, Skills and Abilities (KSA's)

•    Strong negotiation and conflict resolution abilities
•    Proven strategic skills.
•    Understanding of facilities management services and professional services negotiations
•    Strong planning and analytical skills 
•    Ability to perform critical evaluation of proposals and contract clauses.
•    Extensive knowledge of all Supplier Management Lifecycle phases.
•    Excellent communication, presentations skills in English and Spanish. 
•    Ability to multitask and prioritize.
•    Able to lead with initiative, sense of urgency and by building excellent stakeholder relationships.
•    Willing to travel if required.
•    Contract Management experience and ability to resolve contract negotiations. 
•    Preferable Ariba or procurement platform experience 
•    Expert user of technology tools (Power Point, Word, Excel, Teams) 

Values